In May 2014, Binh Duong further absorbed additional FDI projects. The result helped Binh Duong lead the country in FDI attraction in the first five months of the year. This also showed that Binh Duong’s investment climate has continued to be attractive to investors.

FDI capital on strong growth

According to provincial People’s Committee, Binh Duong drew additional 14 FDI projects with a total registered capital of US$33.4mln and 15 extra-ones with US$ 39mln in May 2014. Some newly-licensed FDI projects include the US$6.9mln project of Hong Kong’s C-Sicount Vietnam Co.Ltd.; the US$4mln project of Lam Gia Co.Ltd.; the US$2.5mln project of Freecode Vietnam Co.Ltd.; the US$4.3mln project of Meito Vietnam Co.Ltd…Industrial manufacture continued to attract more FDI projects, some of them were invested with great capital.

With the above result, Binh Duong lured additional 58 FDI projects and 53 extra-ones with a total investment capital of US$896mln in the first five months of 2014. As of now, the province has fulfilled 90% of the year’s plan in FDI attraction. Mai Hung Dung, Director of provincial Department of Planning and Investment said that among countries and territories investing in Binh Duong over the past five years, Japan topped the list. It was followed by South Korea, China, Singapore, Taiwan…

Many FDI projects in Binh Duong also raised their investment capital for production expansion during the period. For example, Kurabe Industrial Vietnam Co.Ltd. of Japan boosted its capita by US$15mln to a total of US$ 60mln in order to product plastic covers. Nissin Foods Vietnam Co.Ltd. injected additional US$5.7mln to increase its capacity for various instant noodles. With the additional sum, the total investment capital of the company is now more than US$66.8mln. Perstima Vietnam Co.Ltd. specializing in tinplate manufacture also increased its capital by US$4mln for expanding production.

According to the Ministry of Planning and Investment, the whole country absorbed more than US$5.5bln in FDI capital. Binh Duong took the whole country in FDI attraction with US$896mln, followed by HCM city with US$775.62mln, Dong Dai with US$579.74mln. Binh Duong has so far attracted nearly 2,300 FDI projects with a total investment capital of nearly US$20bln.

Faith consolidated

To create a favorable investment climate, Binh Duong has boosted investment in urban and technical infrastructure, attached special importance to training human resources, taken good care of laborers’ lives with incentive policies…Noticeably, the province has recently made preparations for the development of specialized industrial parks in order to help enterprises catch investment opportunities and enhance their competitiveness after Vietnam joins the Trans-Pacific Strategic Economic Partnership Agreement (TPP).

In fact, enterprises’ faith about Binh Duong’s attractive investment climate has continued to be consolidated. Despite the recent incidents, Binh Duong has still continued to lure more investors. Since May 14, there have been additional enterprises from Japan, South Korea, China, Taiwan… investing in Binh Duong. Particularly, the Japan-invested Dream Infinity Vietnam Co.Ltd., the China-invested LiHua Co.Ltd., the Hongkong-invested Busch Inber Vietnam Co.Ltd., the South Korea-invested Daeha Cable Vietnam Co.Ltd. were granted licences on May 19, 22, 2 and 29, respectively.

Han Vay Chi, CEO of Viet Huong Joint Stock Co., the investor of Viet Huong 1, 2 Industrial Parks (Ips) said that enterprises have still felt secure about Binh Duong’s investment climate and wanted to further make investment in the province. Viet Huong 1,2 Ips now have 80% of enterprises from Taiwan and China. In the first half of the year, they have continued to welcome investors from Taiwan and some other countries for investment research.

According to provincial People’s Committee Chairman Le Thanh Cung, Binh Duong always sees FDI capital as an important element for the province’s socio-economic development. Enterprises’ success is also the province’s success and their difficulty is also the province’s difficulty. Thus, the province will create the best favorable conditions for investors’ development and ensure absolute safety for them.

Reported by Trong Minh-Translated by K.T