Binh Duong attracts large-scale FDI projects

Binh Duong has recently absorbed many large-scale foreign direct investment (FDI) projects. They are present at most fields, ranging from industrial manufacture to trade-services, real estate… 

The first project of the Tokyu Binh Duong Garden City is expected to be put into operation in 2014.

Sharp growth in industrial manufacture

So far, 24 industrial parks (Ips) under provincial Ips Management Board have lured a lot of FDI projects with total investment capital of more than US$50mln. They include Asendas-Protrade Co.Ltd. with total investment capital of US$50mln; Mapletree Vietnam Urban Trade Co.Ltd with US$80mln; Chanh Duong Paper Co.Ltd. with US$61.8mln; Asia Packaging Industries Co.Ltd. with US$58mln; Orion Vina Food Co.Ltd. with US$60.1mln; Sabmiller Vietnam Co.Ltd. with US$61mln…

FDI projects with total investment capital of more than US$100mln, comprising of Uni-President Vietnam Co.Ltd. with US$103.8mln; Procter & Gamble Dong Duong Co.Ltd. with US$157.26mln; Kumho Tires (Vietnam) Co.Ltd. with US$128.34mln; Kraft Vina Paper Co.Ltd. with US$190mln…, have also appeared a lot in province-based Ips. Maruzen Foods Vietnam Co.Ltd. has also just spent US$104mln on building its factory in My Phuoc 3 IP in Ben Cat district.

There are also many big FDI projects in VSIPs such as TBC Ball Beverage Can Vietnam Co.Ltd. capitalized at US$50mln; the Japan-invested Saigon Stec Co.Ltd. that has total investment capital of US$100mln and is specialized in manufacturing electronic circuit boards for use in mobile phone cameras…

In addition, many FDI projects outside province-based Ips have poured a large amount of investment capital into industrial manufacture. Maruichi Sun Steel Joint Stock Company is a typical example for this. The company was established in 1996 as the first 100% foreign capital invested steel company in Vietnam. Covering 30 hectares, the company’s factory has the annual average capacity of 2.25mln tons of various steel products. In 2012, the company decided to raise its investment capital by US$120mln for production expansion to meet consumption demand at home and abroad. This has lifted the company’s total investment capital so far up US$420mln.

According to provincial Ips Management Board, VSIPs and provincial Department of Planning and Investment, most big FDI projects in the province have worked very effectively. They focus on industrial manufacture and export, greatly contributing to the local industrial growth.

Breakthrough in trade-service and urban development

Binh Duong has recently absorbed many FDI projects with great FDI capital in the fields of trade-services and real estate.

SetiaBecamex Joint Stock Company - a joint venture between SP Setia Berhad, a top real estate developer in Malaysia, and Becamex IDC Corporation, a leading infrastructure and industrial park developer in Vietnam, has poured US$100mln into the My Phuoc ecological urban zone in Ben Cat district’s Thoi Hoa commune. The South Korean-invested DTC Partners Vietnam Co.Ltd. has also spent US$100mln on building hotels and apartment buildings in Di An town’s Di An ward.

Noticeably, Becamex Tokyu Co.Ltd., the joint venture between Tokyu Corporation and Becamex IDC Corporation has also spent US$1.2bln on the Tokyu Binh Duong Garden City project. The Taiwanese-invested International Mekong Co.Ltd. has invested US$45mln into the eco-tourism project in Tan Uyen district’s Bach Dang commune.

VSIP Joint Venture Company has also invested some US$199.6 mln in the VSIP Binh Hoa-Binh Duong Complex of 6.8 hectares in VSIP I. The project consisting of a residential area with offices for rent, apartments and accommodations for specialists will get off the ground late this year.

Together with great capital, the above FDI projects have been hastened their process of construction to be soon put into operation. The Tokyu Binh Duong Garden City project is a typical example. Although being started construction by the end of 2012, the project is expected to put its first part into operation in 2014. Or, the US$95mln modern plaza project of Aeon Vietnam Co.Ltd. under Japan’s Aeon Corporation is expected to be operational in 2014 in spite of being granted an investment license in early 2013.

Reported by Ve Giang-Translated by K.T

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