Binh Duong to attract many high-tech projects

In the first 9 months, Binh Duong province continued to enhance effectively foreign investments, better administrative procedure reform in order to create open business environment for both domestic and foreign investors.  Projects invested mainly in the supporting industry and high technology that are less labor-intensive.

FDI to reach nearly 50% year-target

According to provincial Department of Planning - Investment, in the first 9 months, the province attracted nearly $1.5 billion of FDI capital, increasing 27% year-on-year and surpassing 47.7% year-target. Meanwhile, domestic investment was also very high and reached VND14,000 billion, increasing VND6,000 billion year-on-year.

To achieve these results, Binh Duong has kept doing well trade promotion, investment attraction. In addition, business environment and administrative procedure reform have been increasingly improved; transport infrastructure was developed comprehensively; infrastructure of industrial zones was invested intensively to facilitate investors. The province has saved thousands of clean land hectare, adjusted many policies to facilitate investors. These have helped in heightening provincial reputation in investor’s eyes.

Production activities at Kwang Yang Vietnam Co. in Dai Dang industrial park, TDM City

Among new projects in the province, 92% of investments were in industrial zones; new investment capital reached $817 million for 141 projects. Notably, there were 89 projects adding new capital worth totally $660 million. This proved that Binh Duong is reliable and profitable land to investors.

Since early this year, Binh Duong has also enhanced trade promotion, signed cooperative agreements with foreign developing regions, such as: Yamaguchi province of  Japan, Emilia Romagna of Republic of Italy, Windsor City of Canada…

In 9 months, the province granted held investment certificates to 28 projects with a total capital of $304 million. Binh Duong has now 2,525 FDI projects  overseas with a total registered capital of nearly $22 billion from more than 39 countries and territories; including Japanese firms as the biggest investor with a total registered capital of $4.87 billion, followed by Taiwanese, South Korean businesses.

Attracting many projects with modern technologies

Binh Duong has made strong impressions on not only investor number and registered capital but also business size and technological level. For example, in June, the province granted investment certificate to Far Eastern Polytex Company, which was a noticeable project with their speciality of support industries for textiles, like: polysester synthetic fiber products. Total registered capital of the first phase was $300 million and will be added $700 million in the second phase. The project’s investor wanted to satisfy auxiliary demands for textiles industry of Binh Duong and the whole country.

In addition, Binh Duong also granted investment certificates to many large projects having high levels of intelligence, modern technologies, namely, NPC Toda Company invested $30 million in VSIP II A to produce plastic products of all kinds with capacity of 16,889 tones / year; Great JD International Company invested $40 million in Song Than 3 industrial park to produce various kinds of motorcycle, bicycles and components; Vietnam Nippon Chemiphar Company invested $25 million in VSIP I to produce pharmaceuticals with capacity of 550 million pills/year ...

Due to good reputation of the province, many businesses decided to increase their investment. Namely, Anheuser – Busch InBev Vietnam Company poured more $26 million into the project in VSIP II A to produce brewery and fermented malt beverage with capacity of 100 million liters/year; Srithai Vietnam Company added $30 million to manufacture industrial plastic products in Song Than I industrial park; Sharp Mind Technology Vietnam Company added more than $7.8 million to produce components of machinery and equipment at Dai Dang industrial park…

Tran Thanh Liem, Vice Chairman of PPC said, in recent years, Binh Duong province had implemented many accommodative policies to attract investments, develop industrial park’s infrastructure. In addition, trade promotion, administrative procedure reform... had been also performed effectively and gained many important goals. It can be said that accelerated investment attraction has brought many advantages to develop industry, services, urban, modern technologies in accordance with development orientations of the province.

Reported by Khanh Vinh – Translated by Ngoc Huynh