Local VSIPs continue absorbing investment capital

Update: 27-07-2017 | 11:11:16

Since early this year, province-based Vietnam-Singapore Industrial Parks (VSIPs) have continued being an ideal destination for investors. The production and business activities of enterprises herein have also maintained stable growth.

Investment capital on sharp increase

In terms of domestic investment, province-based VSIPs in the first half of 2017 lured more than VND516billion with 3 new investment projects. They have so far attracted 27 domestic investment projects with a total registered capital of more than VND4.01trillion.

This is a production line of TPR Vietnam Company at VSIP II-A

They also lured nearly US$652million in FDI capital, up 61.65% compared to the corresponding period last year or 186.25% of the year’s plan. Particularly, there were 21 newly-registered projects capitalized at US$555.1million and 22 extra-ones with nearly US$96.8million…Thus, as of June, 2017, they had a total of 500 valid FDI projects with a total registered capital of US$7.47billion.

Nguyen Thanh Trung, Deputy Head of provincial VSIPs Management Board said that since early this year, province-based VSIPs have further reached stable development, significantly contributing to the local investment attraction result…

Mr.Yokouchi, General Director of TPR Vietnam Company at VSIP II-A said that his company was established in June, 2016 and has just got involved in production expansion by inaugurating its 5^th factory specialized in producing gaskets, electric mattress pads and plastic products for daily use with a total investment capital of more than US$42million. The 35-squ.m factory can generate about 120,000 electric mattress pads and 30,000 plastic products each month, along with some other products…

Whilst, according to Ogino Isao, CEO of Omron Corporation which is specialized in manufacturing blood pressure monitors with the annual output of around 20 million products said that Omron Vietnam Company has worked at VSIP II for 10 years. With a desire of expanding production together with absolute faith in the local investment climate, right from the beginning of the year, the company decided to raise its investment capital to US$800.6million.

Businesses working effectively

Over the past six months, the total investment capital implemented by businesses at province-based VSIPs was estimated at US$155million or 103% against the same period last year and 51.66% of the year’s plan. Their total export value was estimated at US$2.83billion or 104% compared to the same period last year and 56.6% of the year’s plan. New investment projects at the VSIPs also generated jobs for 1,000 laborers.

Nguyen Van Luong, Deputy General Director of Esquel Vietnam Company at Thuan An town-based VSIP I said that since early this year, the company’s export value has surged 10% compared to the same period last year. From now till year-end, the amount of the company’s orders for export is likely to increase by 10%-15% compared to the same period last year, further contributing to promoting its export turnover.

Since its inception, Omron Vietnam Company has manufactured and provided more than 35 million products for 170 countries around the world. The company has also planned to begin developing new products in 2018 and its total revenue till 2020 will be US$200million, a two-fold increase compared to the current level.

The production and business activities of businesses at province-based VSIPs have continued gained high and stable growth, showing that the VSIPs are always attractive for investors. The above results are also the foundation for businesses at the VSIPs to fulfill their business and production activities earlier than planned in 2017, thereby contributing to the local common development.

Reported by Phuong Le-Translated by K.T

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Local VSIPs continue absorbing investment capital

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