FDI capital continue strongly flowing into Binh Duong

Provincial People’s Committee yesterday held a ceremony of granting investment certificates to 33 FDI and domestic projects at Lucky Square Convention Center in Binh Duong New City. Attending the event were Tran Van Nam, Member of the Party Central Committee, Secretary of provincial Party Committee; Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee together with leaders of relevant agencies in the province.

Successes

2015 was a very successful year of Binh Duong in FDI attraction. Particularly, the province absorbed nearly US$3.3bln in FDI capital, mostly in large-scale projects with high technology…Of the total figure, US$2.4bln came from 216 newly-registered FDI projects and more than US$900 from added capital ones. Many focused on auxiliary industry. Other highlight in the province’s FDI attraction last year was to absorb the US$1bln-project of Cheng Long Vietnam Co. at Ben Cat town-based Acendas Protrade Industrial Park (IP).

Tran Van Nam, Member of the Party Central Committee, Secretary of provincial Party Committee (second right) talking with FDI enterprises in the province

From Dec.2015 to Feb.2016, the province attracted more than US$1.2bln in FDI capital, including US$952mln from 91 newly-registered projects and US$294mln from added capital ones. The province has so far lured 2,623 valid FDI projects with total registered capital of more than US$24bln, becoming one of the countries’ five localities with FDI capital surpassing US$20bln.

Noticeably, the province has attracted many FDI projects that are consistent with the local industrial development orientations. The province last year lured a large-scale FDI project in the garment-textile auxiliary sector. This was the US$274 project of Far Eastern Vietnam Co.Ltd. at Bau Bang district-based Bang Bang IP. In the first two months of 2016, the province also drew some FDI projects with great capital, including the US$88mln-project of HCM Coffee Co.Ltd., the US$65.8mln-project of UR Coffee Co.Ltd., the US$30mln-project of Lumens Vina Co.Ltd…

It is obvious that the province’s discriminating and methodical investment attraction was implemented patiently and seriously during the past time, thereby helping obtain considerable results in building and developing Ips. Upon this, the majority of province-based FDI projects were arranged at Ips.

Sustainable development

At the investment certificate granting ceremony, Ngo Kien Hoanh, Head of province-based Taiwan Business Association said: “We felt very secure when investing in Binh Duong. The local government and people’s flexibility and hospitality brought the faith to investors from Taiwan in particular and ones in general. That’s reason why the FDI inflow from Taiwan into Binh Duong constantly increased over the past time”.

Whilst, Nguyen Van Tuan, Director of Hoa Phat Binh Duong One-Member Co.Ltd. said that the province’s infrastructure, consistent policies plus incentives for investors made a strong impression on him. After investing in the province for a long time, the company realized that the province always created favorable conditions for investors to work. Therefore, the company decided to increase its capital by VND155bln (equivalent to US$7mln) for production expansion.

Possibly affirming, the province’s investment climate has got better and better towards sustainable development. There has been an increase in the number of foreign investors coming to the province for seeking investment opportunities in comparison with previous years. Especially, many investors are now very interested in the province’s strong fields like electricity, electronics, mechanism, pharmaceuticals, chemical, trade-services…

In this phase, provincial People’s Committee handed over investment certificates to 21 newly-registered projects capitalized at US$554mln and 12 added capital ones with US$141mln. Among them, projects from Taiwan took the lead in the amount of capital with US$204mln, followed by Singapore with US$188mln, South Korea with US$65mln, Japan with US$54.5mln…

Making the best of existing advantages as well as opportunities from free trade agreements, especially the Trans-Pacific Strategic Economic Partnership Agreement (TPP), Binh Duong this year will continue reforming administrative procedures while taking measures in a synchronous way to help enterprises remove their difficulties…in order to strengthen investment attraction. Provincial leaders also emphasize that the province will focus on absorbing large-scale, hi-tech projects and ones in auxiliary industry, thereby contributing to promoting the local development.

Addressing the ceremony, Mr.Liem stressed that the province thanked investors for their investment selection here. The province will always create advantageous conditions for enterprises to reap success while receiving their contributive ideas for timely solutions to improve the local investment climate. The province will also effectively realize policies for socio-economic development, enhance competitive capacity for international integration. Such these apart, the province will flexibly take measures to remove enterprises’ difficulties; create the best conditions for them to develop, contributing to helping it continue being an attractive destination for investors in the coming time.

Reported by Khanh Vinh-Translated by K.T