South Korea has become the third-largest investor in southern Binh Duong province, with total accumulated investment of over $2 billion in 515 projects.

From January to July this year many South Korean enterprises made new investments in the province, according to Director of the Binh Duong Department of Planning and Investment Phu Huu Minh. In the first seven months there were 25 South Korean projects, with capital of $134 million.

Significantly, investment by South Korean enterprises increased sharply in support industries, which the province has specifically been calling for. Major enterprises in the province include the Castec Binh Duong Vina Co., which manufactures electronic and automobile components with total investment of $14.4 million, the NPC Toda Co., which invested $30 million in producing plastics, and the Remote Solution Co., which invested $10 million in producing remote control devices.

In the first seven months of this year Binh Duong attracted a total of $1.257 billion in foreign direct investment (FDI). Newly-registered capital and additional capital were $772 million and $481 million, respectively.

Binh Duong now has a total of 2,508 FDI projects with total registered capital of $21.662 billion. Of these, 1,473 projects are in industrial zones, with total capital of $13.479 billion.

The Foreign Investment Agency under the Ministry of Planning and Investment said that South Korea now has 4,459 projects in Vietnam with total registered capital of $39.1 billion, making it the largest foreign investor in the country.