Efficiency of Japanese investment in Binh Duong

 Over 11 years after its establishment, Becamex Tokyu has become an example of cooperation between Becamex IDC Corporation and Tokyu Corporation (Japan). On the other hand, with more than $5.9 billion invested in projects in the province, it shows that Binh Duong is trusted by Japanese enterprises as develop business.

Sora Garden 1 and 2 projects in Binh Duong new city have been put into operation.

 Japanese investors’ trust

Fujiwara Hirohisa, Board of Directors, Executive Director of Tokyu Group's international business division, has visited and worked with Binh Duong provincial leaders as assuming his new duties. At the meeting with Mr. Fujiwara Hirohisa, Nguyen Van Loi, Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Provincial National Assembly Delegation, shared that Japan currently ranks second out of 65 countries and territories investing in Binh Duong with 346 projects, total registered capital of more than $5.9 billion, accounting for 14.8% of total FDI capital in the province.

Japanese enterprises mainly invest in infrastructure, urban development, trade and service, manufacture of electronic components, electronic circuits and chips, manufacture and assemble automobiles, iron and steel, pharmaceuticals and other supporting industries. Notable projects include: Becamex Tokyu, Wonderful Saigon Electrics Co., Ltd., Maruchi Sun Steel Co., Ltd., Saigon Stec Co., Ltd., Aeon...

Becamex Tokyu Co., Ltd. is one of the successful case of Japanese enterprises in Vietnam. Becamex Tokyu was established in March 2012, as a joint venture between Tokyu Corporation and Becamex IDC Corporation. Notably, Becamex Tokyu urban area project has a total registered capital of $1.2 billion. The project's objective is to invest, develop, and trade in real estate including commercial centers, services, houses, entertainment services in Binh Duong new city. Up to now, the construction of Sora Garden 1, 2, The View apartment buildings, Hakura residential area, Hikari commercial area phase 1, Vietnam Hoa International School... has been completed. Recently, Sora Garden Shopping Center was opened and put into operation with the presence of big brands from Japan such as AEON supermarket, Kohnan household goods supermarket, Uniqlo fashion... This is the first commercial center in Binh Duong new city, contributing to improving the convenience and living standards for people. Currently, Becamex Tokyu is building Hikari commercial area phase 2, H9BC apartment...

Following the success of phase 1 is Sora Gardens 1 and 2, Sora Gardens 3 luxury apartment project, located at the gateway of Binh Duong new city with an expected height of 39 floors, will be an iconic project with unprecedented facilities and utilities in Binh Duong. In addition, the F2 luxury apartment project with many high-class facilities is in the basic design developing process.

Expand cooperation

At the meeting with Mr. Fujiwara Hirohisa, Mr. Nguyen Van Loi hoped that with the successful cooperation and development of Becamex Tokyu in Binh Duong, the Tokyu Group would expand this to other localities in the country in the future; he believed that with the experience and capacity of Tokyu Group, there would be many projects contributing to the development of the province.

Provincial leaders also said that they are asking the Japan International Cooperation Agency (JICA) to continue paying attention and sponsoring the Trans-Asian railway project passing through Binh Duong province, the metro line connecting Ho Chi Minh City - Binh Duong. The province is continuing to call for investment in the development of transport infrastructure, urban areas and service sectors according to green, clean ecosystems and smart urban development.

Mr. Loi believes that with his assigned position and duties, Mr. Fujiwara Hirohisa will continue to pay attention and propose more projects prioritized by the province as calling for investment, especially projects of transport and urban infrastructure development. Namely, in housing development plan of Binh Duong province until 2030, from 700,000 to 1 million social housing will be developed. The Secretary of Provincial Party Committee wishes that businesses, including Tokyu Group, will take more interest in housing construction to meet the housing demands of people and workers in the province. The province will create all favorable conditions for Japanese enterprises in general and Tokyu Group in particular to develop projects in the near future. Mr. Fujiwara Hirohisa agreed with the province’s proposals, and said that with his assigned position, in the coming time, there will be proposals for new projects, and at the same time expand the cooperation between Tokyu Group and Becamex IDC to many other provinces and cities.

Mr. Fujiwara Hirohisa said that Binh Duong has quality industrial parks, which are expected to grow further in the future. “I think that in the near future, Binh Duong will continue to play the role of a "base" for industrial production, and at the same time will be a large gathering point for the distribution of goods, because this is an important area for the development of the southern key economic region. In the future, when the population of Binh Duong reaches 5 million people, I believe that this will be one of the most developed localities in Vietnam and it is certain that Tokyu Group will continue to cooperate with Binh Duong for a long time.”

 Mr. Fujiwara Hirohisa, Standing Board of Directors, Executive Director of International Business Division Tokyu Corporation: Regarding smart city, I would like to share about Shibuya. This city gathers many leading IT development corporations such as Google, Rakuten… It can be said that this city itself is a place where people are conscious of urban development with a very high digitalization orientation.  In addition, we can introduce and share with Vietnam in general and Binh Duong province in particular about Japanese technologies and practices, including the exchange between different business sectors.

 Reported by Minh Duy - Translated by Ngoc Huynh