Since early 2013, Binh Duong province’s FDI attraction has continued to reap positive changes with many new FDI projects licensed. Many Japanese investors have recently made investment in the province.

In Q1 2013, Binh Duong absorbed many new investment projects from Japan, namely Panasonic Ecosolutions Vietnam Co.Ltd. specialized in manufacturing electronic and electrical components with total registered capital of US$38mln in the Vietnam-Singapore Industrial Park; Toin Vietnam Co.Ltd. specialized in manufacturing various packaging products with US$12mln in the My Phuoc Industrial Park… 

Provincial People’s Committee Chairman Le Thanh Cung (right) handing over an investment certificate to Yasufumi Kasuga, General Director of Maruzen Foods Corporation

The project of the Japanese Maruzen Foods Corporation was most notable, worth US$104mln. After being granted an investment license from provincial People’s Committee, Maruzen Foods Corporation will build a US$104mln-factory in the My Phuoc 3 Industrial Park.

Covering an area of nearly 13 hectares, the factory, the fifth built by the Japanese corporation globally, plans a trial run in January, 2014 before officially operating in April. Once operating, the factory is capable of producing 150 tons of beverage materials, 2.5 mln packages of bottled beverages like coffee, tea, and fruit juice, and 100 tons of canned foods, annually.

Many Japanese projects in Binh Duong also applied for increasing their capital. Specifically, Starwood Woodwork Co.Ltd. increased its capital by US$5mln for production expansion while EB Binh Duong Co.Ltd. applied for increasing its capital by US$8.9mln…

Toshiyuki Hayashi, CEO of Maruzen Foods Corporation cum General Director of Maruzen Foods Vietnam Corporation said that his corporation decided to make investment in Binh Duong, due to its favorable investment climate with well-built infrastructure, leaders’ attention…

According to source from provincial Department of Planning and Investment (DoPI), many big-sized Japanese projects have been interested in Binh Duong’s investment climate. Some corporations from Japan in the fields of urban infrastructure, real estate, services…have also begun pouring capital into Binh Duong. This has contributed to brighten an economic picture of the province.

Provincial DoPT also said that the province’s above results in FDI attraction was very considerable amid current difficulties. They will contribute to promoting the local socio-economic development.

The whole province has so far absorbed more than 170 Japanese-invested projects with total investment capital of more than US$3.2bln. The province saw a sharp increase in investment capital from Japan over the past three years. Particularly, FDI capital from Japan accounted for 26% and 75% of the province’s total FDI capital in 2011 and 2012, respectively. Japan continued being among countries with great investment capital in the province in the first three months of 2013.

Reported by Phuoc Giang-Translated by K.T