Wave of FDI shifting: Opportunities for real estate development in Binh Duong
11:46 | 09/06/2020

VGP – The wave of foreign investors shifting their factories and expanding their production to Viet Nam has been becoming increasingly strong, including Binh Duong province, opening up great development opportunities for the real estate market in the locality.

Wave of FDI shifting: Opportunities for real estate development in Binh Duong

Over recent years, Viet Nam in general and Binh Duong in particular have always been the attractive destinations in the eyes of foreign investors, thanks to their younger and more mobile labor forces than in other Southeast Asian countries, alongside their low labor costs.

In addition, good infrastructure, such as seaports, road and waterway transport systems and warehousing systems, together with a stable political situation and the highest economic growth rate in the region, are also Viet Nam’s advantages. 

So far this year, the COVID-19 pandemic has being causing the economy of many countries around the world to suffer multifaceted damage. Despite the disease’s global impacts, Viet Nam still remains one of the promising destinations of the wave of investment shifting.

The country has being attracting many investors to expand and set up branches or production establishments. In order to leapfrog the wave of shifting global supply chains after the pandemic, it is necessary for Vietnamese localities, including Binh Duong province, to accelerate the establishment of industrial clusters and industrial parks (IPs).

Under a project to adjust the development plan for Binh Duong’s IPs until 2020, which has been approved by the Prime Minister, the province will have 33 IPs with a total area of 14,790 hectares. So far, Binh Duong has developed 29 IPs and 12 industrial clusters to attract domestic and foreign investment.

Thanks to its modern and basically complete IP infrastructure, Binh Duong has become a preferred destination for domestic and foreign investors. By the end of Q1 2020, 65 countries and territories had registered to invest in the province, with 3,816 foreign-invested projects.

On a national scale, Binh Duong is currently the second largest recipient of foreign direct investment (FDI) with a total registered capital of more than US$34.6 billion, only after Ho Chi Minh City.

Nguyen Van Tung, general director of the Danh Khoi Real Estate Company, attributed Binh Duong’s strong investment attraction to the fact that it is the most advantageous locality among the provinces bordering Ho Chi Minh City.

In particular, Binh Duong has well-connected and synchronous infrastructure and a high urbanization speed, and makes up a quarter of the IP area in the southern region. There are a large number of foreign engineers and experts working in the province, resulting in a high demand for purchase of apartments./.

By Vien Nhu

  Reader opinion
 
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address  
  Title
 
  Content