Province-based FDI enterprises actively increase investment capital

Binh Duong province has taken the lead in FDI attraction in 2012. Noticeably, many FDI enterprises herein have continued increasing their investment capital for production expansion. This shows that Binh Duong has a favorable investment climate and the global economy is being recovered…

Actively increasing investment capital

Sun Steel Joint Stock Company now operates in Di An town with the annual capacity of 2.25 mln tons of iron corrugated sheets and other steel products. In 2012, the company has decided to raise its investment capital by US$120mln to build two color and zinc-plated steel lines at the demand of clients at home and abroad.  

Thanks to enjoying a favorable investment climate, many FDI enterprises in Binh Duong have decided to raise their investment capital for production expansion

Sai Gon Stec Co.Ltd. has also increased its investment capital by US$175mln for production expansion in the Vietnam-Singapore 2 Industrial Park. Prior to that, the company had a stable operation in the field of electronic components with total investment capital of US$340mln. The above capital increase will help the company raise its annual capacity to 225 mln of products.

In the Vietnam-Singapore 1 Industrial Park, Wonderful Sai Gon Electrics Co.Ltd. has added US$150mln to its investment capital for expansion production with the annual capacity to be raised to 245 mln products.

Many other companies in the province have also decided to increase their investment capital for production expansion this year. Particularly, Glatz Vietnam Paper Co.Ltd. has raised its investment capital by US$11mln; Kirin Acecook Vietnam Beverage Co.Ltd. by US$15.8mln; United International Pharma Co.Ltd by US$6mln; Liwayway Food Industry Co.Ltd. by US$14.5mln; VinaShowa Co.Ltd. by US$6mln; Nitto Denko Vietnam Co.Ltd. by US$24.5mln; II-VI Vietnam Co.Ltd. by nearly US$16mln; Seebest Co.Ltd. by US$14.7mln; Uchihashi Co.Ltd. by US$4.1mln, Aiphone Communications Co.Ltd. by US$3.8mln…

Satisfactory on investment climate

Wada Yuji, General Director of Sun Steel Joint Stock Company said: “We have a great trust in the investment climate of Vietnam in general and of Binh Duong in particular. The world’s economy now still faces difficulties, but with a good business strategy plus positive support from provincial leaders, we has decided to raise our investment capital to US$120mln for production expansion this year”.

Hidetake Senoo, General Director of Sai Gon Stec Co.Ltd. also had the same thought with Mr.Wada Yuji when deciding to raise his company’s investment capital for production expansion.

Whilst, reprehensive of Liwayway Food Industry Co.Ltd said that the company has wanted to become a part of Binh Duong in the future when making mention of Binh Duong’s favorable investment climate to raise its investment capital.

Mitsuyoshi, General Director of Wonderful Sai Gon Electrics Co.Ltd. said that the company has decided to increase its investment capital because along with enjoying a favorable investment climate, the company has also received positive support from the local concerned agencies. Currently, the company has a total investment capital of US$240mln, 120 times higher than that of the initial period in 2006. The company is also home to 2,340 laborers, up 2,200 compared to 2006…

As of mid-Nov., 2012, the province granted investment licenses to 105 new FDI projects capitalized at nearly US$1.58bln while allowing 114 FDI projects to raise their investment capital to more than US$1bln. The figure has brought the total number of FDI projects in the province so far to 2,117 with total investment capital of more than US$17.3bln.

Reported by Trong Minh-Translated by K.T

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