Investment capital from Japan facilitates high-tech industries

As a thriving industrial province, one of the leading localities in the country in attracting domestic and foreign investment capital, Binh Duong has become an attractive destination for investors, including Japanese investors in high-tech industries - the field is determined to create a driving force to promote the province's socio-economic development to be more and more sustainably.

Manufacturing activities at Takako Vietnam Company.

 High growth expectations

During a visit to Takako Vietnam Co., Ltd., (100% Japanese investment capital), which specializes in manufacturing hydraulic piston pumps and motors, supplying to the worldwide market, Nguyen Van Loi, Member of the Party Central Committee, Secretary of Binh Duong Provincial Party Committee, Head of Provincial National Assembly Delegation, highly appreciated the pioneering of the company's in applying modern techniques into production and business, promoting digital transformation and connecting data, creating new values according to the trend of industry 4.0. Nguyen Van Loi wished Takako Company to create favorable conditions for the company's engineers to connect with universities in the province to receive training support, and at the same time share experience with other businesses in the province.

According to Le Duy Nhat Luan, Technical Director of Takakao Company, in order to catch up with the trend of the industrial revolution 4.0, the company has invested in modern technological equipment for production to increase labor productivity.  Before it used to take 4 workers to operate the production line, from 2016 up to now, thanks to the application of modern technology, only 1 operation engineer is needed to increase productivity, product quality, and improve product price.

With advantages, such as political stability, favorable business and investment environment, guaranteed quality of human resources, infrastructure investment, etc., the investment attraction from FDI enterprises, including Japanese enterprises in Binh Duong, has been developing in recent years. According to the socio-economic development orientation, Binh Duong defines Japan as a strategic investment partner. The province's efforts are recognized and appreciated by investors from the rising-sun country.

Mai Hung Dung, Permanent Vice Chairman of Provincial People's Committee, said that with the advantage of being a province with strong industrial growth, Binh Duong is the best choice of foreign investors, including Japan. For fast and sustainable development, the province not only receives the attention and support from the Japanese Government and JICA in projects to build connection transport infrastructure, but also Japanese enterprises always support the innovative direction to attract investment into high-tech industries of Binh Duong.

Good potential, many advantages

During a meeting with leaders of Provincial People's Committee on the plan to expand investment and build one more large-scale factory of high-tech electronic products in the province, Hashimoto, Chairman of Sharp Corporation (Japan), said the group is exploring investment opportunities in the southern provinces of Vietnam, including Binh Duong to move the supply chain away from the Chinese market. He assessed Binh Duong as a locality with an attractive investment environment, in line with Sharp's criteria. This group has 2 manufacturing factories located in VSIP 1 and VSIP 2.

It is known that Sharp Corporation expanded investment and built one more large-scale factory to develop high-tech and advanced products, such as electronic products and high-tech components, smart phones, electrical appliances, household electronics, healthcare products... With this development orientation, Sharp Group hopes Binh Duong would support to meet their demand for land fund for construction, and supply human resources, complete connected transport infrastructure, as well as tax incentives...

Nagato Takahiko, Chairman of Binh Duong Provincial Association of Japanese Enterprises, said that Binh Duong is the locality chosen by Japanese enterprises to invest in industrial sectors. Namely, supporting industries for machinery manufacturing, electronics, deep processing... Japanese enterprises investing in Binh Duong always receive support and all favorable conditions by local leaders for development. Currently, the Japanese business community in Vietnam has over 1,800 members, of which Binh Duong is the largest with more than 140 members.

Currently, on average, each project of Japanese enterprises investing in Binh Duong has a capital of over 20 million USD. This is the highest average number among countries investing in Binh Duong. This shows that the province's efforts in improving the investment environment, improving infrastructure, promoting reform of administrative procedures, etc. have brought goof results.

 Japan is currently ranked second out of 65 countries and territories investing in Binh Duong province with 341 projects, with a total capital of nearly 6 billion USD. Japanese FDI projects in Binh Duong mainly focus on areas, such as: electronic components, circuits and electronic chips; automobile production and assembly; iron and steel production; supporting industries, commerce - services... Some large corporations investing in the province are Panasonic, Toshiba, Foster, Tokyu, Aeon Mall... In which, the province has promoted cooperation with Tokyu in infrastructure, urban and transportation development; with Aeon on commercial development; with Mitsubishi on the development of automobile industry; with Toshiba and Foster on the production of electronic components… All these projects have been contributing strongly to the socio-economic development of the province.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh