Part 2: A place of ASEAN project attraction

Part 1: Model industrial park

As a model industrially developed province of the nation, Binh Duong Province, through years, has become a place of investment attraction for enterprises from ASEAN nations. Those projects have played major roles in development of Binh Duong Province.

Large investment attraction

ASEAN is currently setting up a favorable environment for investments locally. The members have committed to investment environment of transparency to improve investment flow and attraction of more investors.

As ASEAN Economic Community has been officially set up since December 31, 2015, the nation has put in the verge of opportunities and challenges of FDI attraction. Together with exportation, FDI has promoted economic growth of Vietnam. As the matter of fact, the investment increment within ASEAN and from ASEAN nations to Vietnam hold the major role in attracting investment, servicing economic growth of the nation. Thanks to the signed FTAs and competitiveness in terms of workmanship price and port proximity, various FDI enterprises have transited their factories to Vietnam for export production.

As a province of developed industry nation wide, Binh Duong Province has always been a place of attraction for enterprises from ASEAN nations whose projects have been mainly in processing, creating, and infrastructure industries. Major projects such as VSIP I, II, and III of VSIP Joint Venture Limited have been accounted for US$ 835 million in the field of industrial infrastructure. Tetra Pak Binh Duong (Singapore) JSC has established project at registered investment capital of US$ 125 million in VSIP II-A; paper production project of Kraft Vina (Thailand) Co. Ltd. at US$ 215 million in My Phuoc Industrial Park 3, among others. From the beginning of 2017, total registered, additional, and share transaction capital from ASEAN nations to Binh Duong Province has reached US$ 521 million, accounting for 29% of total FDI pouring into Binh Duong in the last 7 months.

Paper production line of Kraft Vina (Thailand) Co. Ltd. is operating in Ben Cat Town. Photo: P. Le

Leaders of Kraft Vina Co. Ltd. informed of its 2-stage investment of US$ 330 million to production area of 38 hectares. In April, the company inaugurated its second factory in My Phuoc Industrial Park 3 in Ben Cat Town. To optimize operations, the Company has expanded its second factory in accordance with global technologies to enable medium sized paper production line of capacity of up to 500,000 tons a year.

Best conditions offered to investors

In the past few years, Binh Duong has been a dynamic place of non-stop investing activities in synchronous development of technical and social infrastructure; gradual improvement of the competitiveness of the economy in the domestic market and abroad. In the coming time, the province will continue to implement the plan, allocate land fund to attract investment and welcome wave of investment in the country and abroad, including investors from ASEAN to Binh Duong qhen free trade agreements enter into force; at the same time, calling for and attracting investment in line with local development orientations and plannings; restrictions on granting investment licenses for production outside industrial zones.

In addition, the province continues to mobilize investors to convert some of the area of ​​the industrial zone south of the province to develop services. At the same time, Binh Duong will implement effective cultural diplomacy, contributing to trade promotion, investment and promotion of tourism and culture of Vietnam to international friends. ASEAN countries through improved operation of Binh Duong Foreign Service Center; to continue well implementing friendly cooperation agreements between Binh Duong and localities of countries in the world.

Tran Thanh Liem, Chairman of the provincial People's Committee said that in 2017 and the following years, Binh Duong province would continue to implement concrete solutions with important orientations for further social interest in developing the business community. It would focus on a number of key tasks such as efforts to overcome all difficulties and challenges, continue to bring into play the potential strengths of the province; creative application of mechanisms and policies of the central government; together with that, new models would be developed as a driving force for the province's economic development. Binh Duong would also accelerate administrative reform and development comprehensively to suit the market mechanism; At the same time, priority should be given to promoting the province's key socio-economic infrastructure, creating a motive force to attract investment and stabilize production and business for enterprises, contributing to the achievement of the objectives. Binh Duong province has also been promoting investment and enhancement of the province's competitiveness; to focus on solving difficulties and shortcomings, creating favorable conditions for enterprises, including those from ASEAN in production and business. Liem also stressed that the province will implement synchronous solutions to prevent pollution and protect the environment, thereby contributing to the development of comprehensive and sustainable community; together with that, we continue to create favorable conditions for the business community - entrepreneurs to develop sustainably.

Tran Thanh Liem, Chairman of the provincial People's Committee also affirmed that in the development and participation in free trade agreements that Vietnam has signed as well as in the process of industrialization and modernization of the province, Provincial leaders at all levels and sectors will continue to show responsibility and companionship with businesses; constant attention to and solution of problems in order to create the most favorable conditions for enterprises in the process of production, business and implementation of investment projects. Provincial leaders always listen to the sincere comments and responsibilities of the business community and business people in the province in order to have appropriate solutions to create an investment environment of the province more open, attractive and effective.

Reported by Phuong Le – Translated by Vi Bao

Part 3: Binh Duong enterprises outreach to the region

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