In 2014, My Phuoc Industrial Parks (Ips) invested by Investment and Industrial Development Corporation (Becamex IDC) have continued reaching positive results in investment attraction with many projects granted investment licenses and factories put into operation.

Great investment attraction

According to Becamex IDC, My Phuoc 1, 2 and 3 Ips have absorbed additional investment projects in the first months of 2014. They have so far lured nearly US$2.8bln with 352 enterprises from many countries and territories such as Japan, South Korea, Taiwan, Thailand, U.S, Holland, Italy…

There have also been a lot of factories in My Phuoc Ips put into operation since early this year. For example, the Japan-invested Toin Vietnam Co.Ltd. inaugurated its packaging-paper factory in My Phuoc 3 IP with a total investment capital of US$12mln. The Japan-invested Meiwa Co.Ltd. put its factory making industrial robots, medical equipment and other industrial products with a total investment capital of US$5.5mln. The metal making factory of Chod Vietnam Co.Ltd. was also inaugurated in My Phuoc 2 IP… 

Electronic circuits being manufactured at a Japan-invested company in My Phuoc 1 IP

After 12-year development, My Phuoc Ips have seen as a place with breakthrough in terms of investment attraction for the industrial development of the province. Noticeably, they have lured many FDI projects with great investment capital such as the tyre production factory of South Korea’s Kumho Asiana Corp. with a total investment capital of US$360mln; the paper-making factory of Vina Kraft Paper Co. of Thailand capitalized at US$180mln; the U.S-invested Colgate-Palmolive Vietnam Co. totaling US$41mln; the US$60mln-beverage factory of the Japan-invested Kirin Vietnam Co.; the US$35mln-factory of Japan’s Dai Nippon Printing Corp. with US$3mln; the US$104mln-factory of Maruzen Foods Corp.; the US$47.6mln-factory of Tomoku Vietnam Co.Ltd…They have recently lured a lot of investment projects in hi-tech and auxiliary industries.

According to many enterprises, My Phuoc Ips are located in the center of the Southern key economic zone with well-built infrastructure and support from the local authorities at all levels. All are favorable conditions for them to effectively work. Sangchai Wiriyaumpaiwong, General Director of Vina Kraft Paper Co.Ltd. said that the company has decided to increase its investment capital by US$150mln for production expansion. Prior to that, the company effectively worked when putting its US$180mln-factory into operation in 2010.

Competitive advantages

Since early 2014, tens of business delegations from Japan, South Korea, Europe…have visited My Phuoc Ips and learnt about their investment climate.

For example, My Phuoc Ips welcomed a business delegation from Japan’s Saitama province with 22 members representing 22 large-scale companies in the fields of electronics, telecommunication equipment, office equipment…On behalf of the delegation, Suzuki Tsutomo, Director of Saitama Agata Bank said that Saitama province’s top enterprises would map out concrete plans for investment in the Ips after the visit.

Along with well-built infrastructure and abundance of clean land fund, My Phuoc Ips have cooperated with schools to train highly skilled workforce at investors’ requirements. Becamex IDC, the investor of My Phuoc Ips has attached special importance to building public works and taking good care of the spiritual and material lives of laborers via many incentive policies. All have helped laborers feel secure when working in My Phuoc Ips. They are also an important workforce, helping enterprises reap success when making investment herein.

Possibly speaking, the success of My Phuoc Ips has greatly contributed to the comprehensive development of Ben Cat, helping become a locality with industrial manufacture holding a decisive role in the local economic structure. This shows that Becamex IDC has always reached success when carrying out key works to promote the socio-economic development of Binh Duong.

Reported by Ve Giang-Translated by K.T