Province further makes efforts in hi-quality FDI attraction

Update: 15-07-2019 | 12:05:44

Binh Duong is always appreciated as one of the country’s top localities in FDI attraction. For better results, the province has actively prepared necessary conditions, constantly improved the local infrastructure system, aiming to absorb more FDI projects and meet the local requirements for development in the coming time.

Boosting hi-quality investment attraction

Binh Duong was one of the country’s top localities in FDI attraction over the past years. Since early this year, the province has absorbed more than US$1,317million from 106 newly-registered projects, 53 extra-ones…, up 81% compared to the same period last year or 94.1% of the year’s plan. Thus, the whole province has so far drawn 3,629 FDI projects with a total registered capital of US$33.63billion.

This is a production line of Tetra Pak Co.Ltd.’s aseptic carton packaging material factory in the VSIP II

Nguyen Van Hung, CEO of Becamex IDC said that Becamex IDC is building a hi-tech industrial park in Bau Bang district, aiming to attract investment projects in hi-tech services and ones that create products with great value, are less labor-intensive and environmentally friendly…

Thanks to the local investment climate always improved, Binh Duong is seen as the top destination for Japanese investors. Hideyuli Okada, Chairman of HCM city-based Japan Business Association said that Japanese enterprises operating in Binh Duong have always enjoyed the best conditions for development. Vietnam has so far absorbed 1,800 Japanese enterprises. They are divided into 13 groups across the country. Among them, the group in Binh Duong has the most members with 140.

Creating new absorption

According to Tran Thanh Liem, Chairman of provincial People’s Committee said that the province over the past time promulgated many major policies for investment attraction, contributing to promoting the local economy. Particularly, the province mobilized all resources to form up and develop industrial parks and compounds in order to call for foreign investors. The effort plus the local advantages has won enterprises’ faith for production expansion and investment. Province-based FDI enterprises have contributed to promoting the local industrialization and modernization process via sci-tech transfer in production. This is also a huge resource for the local civilized and modern development, contributing to improving the lives of the local people and creating the foundation for solutions on industrial development in association with smart city development.

According to experts, Binh Duong is the country’s top locality in the number of Japanese investors with more than 140 ones. Provincial Department of Planning and Investment (DoPI) said that each Japanese project in the province is worth more than US$24million. This is the highest average level of countries’ investment capital in the province. Some noticeable Japanese projects in the province include Tokyu Group’s Tokyu Binh Duong Garden city project capitalized at US$1.2billion; Wonderful Saigon Electrics Co.Ltd.’s factory project with total investment of US$450million; Aeon Mall Vietnam Co.Ltd’s Aeon Mall Binh Duong totaling US$95million... Phu Huu Minh, Deputy Director of provincial DoPI said that newly-licensed FDI projects are line with the province’s orientation on investment attraction at the local requirements of protecting the environment…

For better result, the province has actively prepared necessary conditions, constantly improved its infrastructure system, aiming to absorb new FDI projects at requirements of the local development in the coming time. The province has also attached special importance to the mutual relationship between industrial development and smart city construction. Currently, the province absorbs resources to develop infrastructure facilities, in which there is a focus on inter-provincial traffic facilities in order to promote regional connection, especially in terms of logistics…

According to JeffTetra Pak, Director of Tetra Park, a Swedish-based food packaging and processing company that has just inaugurated its first aseptic carton packaging material factory of 120 million euros in the Vietnam-Singapore Industrial Park II, his company decided to select Binh Duong for the above investment as the locality has many preferential policies in investment together with advantages in terms of position, logistics and workforce. The factory of 120 million euros is seen as the company’s demonstration on long-term commitment with the locality, contributing to the local industrial manufacture.

Reported by Tieu My-Translated by K.T

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Province further makes efforts in hi-quality FDI attraction

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