Nguyen Thanh Truc, director of Binh Duong’s Department of Planning and Investment, said that more foreign companies were investing in the province and looking for Vietnamese business partners.

The province’s road infrastructure and its 29 industrial parks have also developed strongly in recent years.

Last year, FDI companies contributed to 48.5 per cent of the province’s investments and over 82.8 per cent of its exports, according to Truc.

Binh Duong is the newest member of the World Technopolis Association which helps members apply advanced technologies in regional development.

The province was also chosen to host the 2018 World Technopolis Association Summit on October 10.

Tran Thanh Liem, chairman of the provincial People’s Committee, said that membership in the association would help Binh Duong improve its technology capability and become a smart city.

Nguyen Van Hung, chairman of the board of Becamex IDC Corp (Binh Duong-based conglomerate), said the province’s reputation as an attractive area for investment has lured many multinationals.

For instance, the industrial parks of a joint-venture between Singapore-based Sembcorp Development (which specialises in urban development) and Becamex IDC have attracted over $9 billion from 630 businesses in 60 countries and territories.