Japanese businesses strongly invest in Binh Duong

Japanese businesses have so far led foreign investment in Binh Duong. There has been an increase in both quantity and quality for Japanese-invested projects in the province. They mainly focus on services, urban development, auxiliary industries…

Leading FDI capital flow

Binh Duong has ranked the second in attracting FDI capital from Japan after Thanh Hoa. Among the 2,713 FDI projects in the province with a total registered capital of more than US$24.8billion, there are 262 Japanese-invested projects capitalized more than U$5.2billion, accounting for more than 9.2% in the number of FDI projects and nearly 23% in the amount of FDI capital flowing into the province.

 Not only making investment in industrial manufacture, Japanese businesses have recently also got involved in trade-services in Binh Duong. In picture: Customers at Aeon Mall Binh Duong Canary invested by Japan’s Aeon Group

Noticeably, there is a diversification of Japanese enterprises’ investment scopes, ranging from electronics, steel production, food processing to auxiliary industry…Many Japanese-invested projects with great capital include Maruchi Sun Steel Co.Ltd. capitalized at US$420million, Wonderful Saigon Electrics Co.Ltd. with US$240million, Maruzen Foods Vietnam Co.Ltd. with over US$100million, Tomoku Vietnam Co.Ltd with US$48million…

Since early this year, Binh Duong has continued being an attractive destination for Japanese investors. Of the US$1.5billion in FDI capital flowing in the province over the past 7 years, Japanese businesses ranked third only after South Korea and Taiwan. There were many Japanese-invested projects with total investment capital amounting to US$50million.

Each project from Japan is valued at more than US$21mln, the highest figure among countries and territories pouring investment into Binh Duong at present. Thus, Japanese investors now rank first in the total amount of capital as well as capital of each project among foreign investors in Binh Duong. All showed that the efforts by Binh Duong in investment attraction have brought the locality positive results.

Business scopes expanded

In recent years, Binh Duong has had good preparation in calling for foreign investors in general and Japanese ones in particular. This effort plus the local advantages in terms of infrastructure, human resources, administrative reform…has made Japanese investors feel satisfactory and secure to raise investment capital for production expansion in the province. For example, Sun Steel Joint Stock Co. and Sakata Inx Vietnam Co.Ltd increased their total investment capital to US$420 million and US$21.5million, respectively.

After surveying Binh Duong’s investment climate, CLK Co. has also just poured VND18million into development of cold storage services at Di An town-based Tan Dong Hiep B industrial park.

Not only making investment in industrial manufacture, Japanese businesses have recently also concentrated on developing urban infrastructure, trade and services. The Japanese-invested Aeon Mall Binh Duong Canary with a total investment capital of US$95million was put into operation in 2014. This is one of projects absorbing great attention in the domain of trade.  Besides, Sora Garderns I in Binh Duong new city, which is the first project of Tokyu Binh Duong Garden City with a total investment capital of US$1.2billion, has opened up a new cooperation trend in the domain of urban development, contributing to stepping up traffic infrastructure systems in Binh Duong and neighboring localities.

Mitsuhiro Mori, Chairman of HCM city-based Japan Business Association affirmed that with well-built infrastructure plus open policies in attracting human resources, Binh Duong’s great attention to infrastructure is a necessary pace at foreign investors’expections. Upon this, Binh Duong will continue being an attractive destination for investors in hi-tech, urban and service fields…

Reported by Khanh Vinh-Translated by K.T