Province-based VSIPs further absorb investment capital

Update: 16-07-2019 | 11:36:17

Over the past years, enterprises in the province-based Vietnam-Singapore Industrial Parks (VSIPs) worked effectively and stably. The VSIPs have so far absorbed many great corporations around the world.

Attracting US$8.36billion in FDI capital

Since early this year, province-based VSIPs have continued attracting many FDI projects. Noticeably, Tetra Pak, a Swedish-based food packaging and processing company has just inaugurated its first aseptic carton packaging material factory in the VSIP II with total investment of EUR 120 million.

This is a production line of province-based Tetra Pak factory

The factory has been designed to produce 12 billion aseptic cartons each year, and the figure is expected to increase to 20 billion aseptic cartons in the future. This is one of the first factories in Vietnam to apply the latest, most-demanding environmental standards in pursuit of the globally-recognized LEED Version 4 Gold certification.

Adolfo Orive, CEO of Tetra Pak said that the birth of the factory is seen as the company’s evidence on long-term commitment with the locality, contributing to the local industrial manufacture.

Over the past six months, province-based VSIPs continued absorbing more FDI capital. Particularly, they lured nearly US$228million in FDI capital from 10 newly-registered projects, 24 capital increasing projects and other 102 adjusted projects, up 2.35% compared to the corresponding period last year or 65.13% of the year’s plan.

Province-based VSIPs have so far attracted valid 549 FDI projects with total registered capital of US$8.36billion. In the remaining 6 months of the year, they will strive to lure additional US$120million in FDI.

In terms of domestic investment, province-based VSIPs over the past six months absorbed more than VND1.06trillion. They have till now drawn 42 domestic investment projects with total registered capital of more than VND9.84trillion.

Enterprises with effective operation

TATA Coffee Corporation of India held a ceremony to inaugurate its freeze dried coffee factory in the VSIP II in North Tan Uyen district’s Tan Binh commune.

Covering 80,000 square meters, the plan has total investment capital of more than VND1.43trillion with the annual capacity of 5,000 tons. The plant targets to supply the global market with new types of instant coffee.

Parawathani Harish, CEO of TATA Vietnam Company said that freeze dried coffee is one of TATA’s strategic products in the future. The birth of the factory aims to bring Vietnam’s market hi-quality coffee products, thereby contributing to promoting the domestic coffee industry.

Enterprises in the province-based VSIPs over the past six months continued reaching stable growth in terms of revenue, export import value. Particularly, they achieved more than US$176.1million in total capital or 108% compared to the same period last year and 58.72% of the year’s plan; US$4.95billion in revenue or 119% against the same period last year or 60.37% of the year’s plan; US$3.15billion in export value or 108% over the same period last year and 50.81% compared to the year’s plan while paying US$38.75million for State budget or 104% against the same period last year and 59.16% of the year’s plan.

According to leader of province-based VSIP Management Board, the unit over the past 20 years made efforts in implementing the “one-door” and “one-stop” policy, creating a breakthrough in terms of administrative reform. The unit also bent on building up a modern infrastructure system with international standards; paid more attention to human resource development at investors’ requirements; made a harmonious connection between industrial, trade-service and urban development. All have contributed to helping province-based VSIP develop their trademark, becoming an attractive destination for investors around the world.

At a recent meeting with Singapore’s Sembcorp that has coordinated with Becamex IDC to set up VSIP Joint Venture Company, Tran Van Nam, member of the Party Central Committee, Secretary of provincial Party Committee, Head of provincial National Assembly deputy delegation said that the province aims at sustainable development, so its FDI attraction is implemented selectively. That’s reason why the province wants that Sembcorp will continue mapping out strategies for sustainable development, creating new models at requirements of the province while affirming the VSIP trademark in the region and the world.

Reported by Phuong Le-Translated by K.T

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Province-based VSIPs further absorb investment capital

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