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Domestic investors outpace foreign peers in southeastern region
Domestic investors outperformed their foreign counterparts in the southeastern region, as many localities have paid heed to luring capital flows at home to ensure sustainable growth.
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| Domestic investors outpace foreign peers in southeastern region |
The Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) reported that in the first 10 months of this year, domestic investors poured 17.95 trillion VND (764 million USD) into industrial parks in the metropolis, while foreign direct investment (FDI) stood at only 184 million USD.
Binh Duong province, an industrial hub, attracted 71.44 trillion VND and 1.3 billion USD in the reviewed period. The trend was also seen in its neighbour Dong Nai province with 50.75 trillion VND and over 1 billion USD, respectively.
Over the past time, the localities have been selective in investment attraction, prioritising high-tech, less labour-intensive and environmentally friendly projects, experts explained.
Moreover, the industrial land fund in many cities and provinces in the region have narrowed, while new industrial parks have yet to be formed, making them unable to house FDI projects.
Investors have seen great opportunities in the region whose infrastructure is expected to be completed by 2026 with Belt Road No. 3 in HCM City, Bien Hoa-Vung Tau and Ben Luc-Long Thanh Expressways, and Long Thanh International Airport.
Therefore, those from the US and Japan, and domestic firms have continuously proposed urban area, industrial park and high-tech agriculture projects in Dong Nai and Binh Duong.
Many have suggested the localities further improve their investment environment, upgrade infrastructure, and pay more attention to personnel training.
In response, leaders from such provinces as Binh Duong and Dong Nai have regularly met domestic associations and businesses to seek ways to remove their obstacles given declining orders, and support small- and medium-sized enterprises in digital transformation./.
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