In the first two months of 2014, Japan continued taking the lead among FDI projects flowing into Binh Duong. With a faith on Binh Duong’s favorable investment climate, many Japanese investors have urgently implemented their investment projects in Binh Duong so that they could be put into operation soon. 

Hi-grade light bulbs being manufactured at a Japanese-invested company in Thuan An town-based Dong An Industrial Park 

Great investment

Since early 2014, Binh Duong has further seen a sharp increase in FDI capital, mainly from Japanese investors. Particularly, the province in the first two months of the year attracted more than US$720mln from 40 FDI projects.

Japan took the lead among the above FDI projects. Noticeably, there were some Japanese projects with great investment capital, including Naris Cosmetics Vietnam Co.Ltd. specialized in manufacturing cosmetic products with total investment capital of US$10mln; Tanaka Ai Vietnam Co.Ltd. with US$20mln poured into production of materials for the cosmetic industry; Yamazaki Vietnam Co.Ltd. with US$15mln for making household appliances; Kawasaki Heat Metal Vietnam Co.Ltd. specialized in manufacturing metal components related to heat treatment system with total investment capital of US$8mln…

In the face of Binh Duong’s favorable investment climate, many FDI enterprises with stable operation in the province have decided to raise their investment capital for production and business expansion. Since early this year, the Japan-invested Wonderful Saigon Electrics Co. Ltd. has increased its capital by US$210mln, bringing its total capital to US$280mln. The company specializes in manufacturing camera modules for cell phones, high-capacity integrated circuits, and printed circuit boards for use in next-generation network devices.

It is known that Binh Duong has so far attracted 2,255 FDI projects with total investment capital of nearly US$19.6bln. Among the above FDI projects, Japan has taken the lead in the amount of investment capital with more than US$4.3bln. On average, each project from Japan is valued at US$17.5mln, the highest figure among countries and territories pouring investment into Binh Duong at present.

Additional FDI projects to be put into operation

Possibly speaking, Japanese enterprises have quickly implemented their capital disbursement when making investment in Binh Duong. Many Japanese-invested projects have poured tens of millions of US$ into urban, trade and services development. The trade center of the Japanese Aeon Group is noticeable with total investment capital of US$95mln. Covering more than 6 hectares, the trade center is adjacent to Vietnam-Singapore Industrial Park 1 in Thuan An town. It is expected to be put into operation in Q4 2014, creating stable jobs for more than 2,000 laborers.

Other noticeable project is the Tokyu Binh Duong Garden City project in Binh Duong new city with total investment capital of US$1.2bln. Covering on an area of 714,524 sq.m, Tokyu Binh Duong Garden City will have a total of 7,500 apartments and houses, a trade centre and a large space for creation and entertainment. It is known that the project was granted license and commenced construction in 2012. This is the biggest FDI project in Binh Duong and has been implemented very quickly. In Q3 2014, Sora Gardens I, the first project of the Tokyu Binh Duong Garden City will be put into operation.

The Tokyu Binh Duong Garden City is not only Vietnam’s top urban area, creating a vital highlight for Binh Duong New City, but also contributes to absorbing FDI capital from investors, especially Japanese ones.

In early February, provincial People’s Committee offered the investment license to a public transport bus service of Becamex Tokyu Co.Ltd. with total investment capital of US$2mln. Accordingly, modern buses will be imported to Binh Duong in March. According to Koshimura Toshiaki, Chairman of the Japanese Tokyu Group, the company will officially open its bus route connecting TDM city with Binh Duong New City in May 2014.

Regarding FDI capital from Japanese investors, provincial People’s Committee Chairman Le Thanh Cung said that in addition to focusing on industries with high technology and great competitive ability, many Japanese corporations have recently paid more attention to fields in terms of urban infrastructure development, real estate, services…, which is suitable to the province’s orientation.

He has also spoke highly of many Japanese enterprises that have worked effectively and excelled at realizing Vietnam’s policies while emphasizing that Binh Duong has always created favorable conditions for enterprises to reach the best investment results.

Reported by T.Minh-Translated by K.T