Foreign Development Investment (FDI) in Binh Duong is still in good position to promote Binh Duong in a bid of achieving over USD 1 billion of FDI in 2011.

High technology uses increase

TBC Ball Beverage Can Vietnam Co. Ltd., which is awarded with investment certificate at the beginning of March, has invested USD 500 million in a two-company project covering 8 hectares in VSIP 2 with capacity of 850 million cans a year for domestic market and exporting to Laos and Cambodia. In the meantime, Yong Ho Vina (South Korea) Construction Co. Ltd. has inaugurated and put into operation its Yong Ho Vina Steel factory in Bau Bang Industrial Park, Ben Cat District. USD 5 million is invested into this project covering 5 hectares of which 1.5 hectares are for construction. The factory is specialized in twisted steel pipes under advanced Korean line.

Provincial People’s Committee has recorded that in 3 months of 2011, Binh Duong Province has attracted USD 256 million of FDI with 15 new projects approved at USD 138 million and other 19 projects requesting for increase of USD 117 million. Totally, 40 nations and territorities have invested into Binh Duong Province at approximately USD 14 billion through FDI to 2,021 projects.

The continual flow of FDI is a good signal for economic development by churning out high industrial value. It is noticeable that investments to high-tech fields have strongly increased with over 80% of new investments to industrial parks. This is in line with policies and guidelines of sustainable orientation and development of industry in Binh Duong.

Attractive to enterprises

Beside operating and approved projects, many enterprises from Europe, Japan, Singapore, and Thailand are seeking for investment in Binh Duong. Recently, General Director Susilo Tandjung to Red River Real Management Co. Ltd. (Singapore) has had a working session with province’s leaders to request for construction of worker’s hostels covering 2.14 hectares for 7 5-floor apparment blocks in environment-friendly structures for 6,500 workers.

Eurocham in Vietnam is also preparing for a visit to investigate investment environment in the province to boost up investments of European enterprises to Binh Duong Province. By April 2011, about 37 Thai enterprises of banking, voltage transformers, power saving products, live stock feed, biotechnology, furniture, etc. are seeking investment opportunities in Binh Duong.

It is deemed to be a good signals for several projects being approved with investment certificates and enterprises investigating investment opportunities in Binh Duong; this also is an expressively care of Binh Duong for investment environment as Deputy Director Hiroshi Tsuchiya to Office of Industry and Services under Japanese Ministry of Economics, Trade and Industry put it that Binh Duong Province is an ideal destination for investment in a good environment and infrastructure of industrial parks.

Reported by Trong Minh – Translated by Vi Bao