Early June 4, provincial People’s Committee held a ceremony to grant investment licenses to 33 new FDI foreign direct investment (FDI) projects and 8 extra-ones. Attending the event were Mai The Trung, Member of the Party Central Committee, Secretary of provincial Party Committee together with leaders of provincial Party Committee, People’s Council, People’s Committee and sectors.

At the ceremony, provincial Party Committee Secretary Mai The Trung and provincial People’s Committee Le Thanh Cung granted investment licenses to 41 FDI projects from Japan, South Korea, China, Taiwan, Hongkong…After receiving the licenses, many foreign investors showed their absolute trust on Binh Duong’s investment climate and would like to have a long investment herein. 

Mai The Trung, Member of the Party Central Committee, Secretary of provincial Party Committee (first right) handing over investment licenses to foreign enterprises

According to provincial People’s Committee, the province in the first five months of 2014 absorbed additional US$978.4mln or 97.8% of the year’s plan, up 14.9% compared to last year’s corresponding period. Of these, there were 6 new FDI projects with total registered capital of US$370.4mln and 56 extra-ones with US$608mln. The province has so far attracted 2,295 valid FDI projects with total investment capital of US$19.74bln.

Among the newly-licensed projects, several projects with large investment capital include a steel cable making plant of Japan’s Chrysanthemum Vietnam Co.Ltd. valued at US$12mln, the Japan-invested Daiyu Steel Vietnam Co.Ltd.’s US$10mln investment for a steel factory, the US$8mln furniture-making factory of China’s Hao Hao Co.Ltd…

Regarding FDI attraction, Mai Hung Dung, Director of provincial Department of Planning and Investment said that there were 10 FDI projects licensed after May 13. Particularly, the Branch of Dream Infinity Vietnam Co.Ltd., Anheuser-Busch Inber Vietnam Co.Ltd, Daeha Cable Vietnam Co.Ltd. were granted investment licenses on May 19, 23 and 19, respectively…This showed that foreign enterprises have continued to have confidence on Binh Duong’s investment climate.

Choi Jae Ho, Director of Panko Co.Ltd. said that his company has made investment in Binh Duong since 2002 and so far developed 3 factories with effective operation at My Phuoc 1 Industrial Park. According to him, Binh Duong has a good investment climate with well-built infrastructure and favorable traffic system. With a great trust on Binh Duong’s investment climate, his company decided to pour US$15mln into hotel business in Ben Cat town.

Similarly, XieZu Hong, General Director of ZHU RUI Vietnam Co.Ltd. said that after learning about Binh Duong, his company poured US$10mln into construction of a sole making factory at Viet Huong 2 Industrial Park.

Hyakkoku Hiroto, Chairman of Japan Business Association in HCM city said: “The association now has 730 members, including 100 with projects in Binh Duong. We have spoken highly Binh Duong’s investment climate, especially the province’s active support for foreign enterprises over the past time. In the coming time, Japanese investors will continue to make investment in Binh Duong…”.

According to Mr.Cung, province-based FDI enterprises have contributed to promoting the local socio-economic development and the province has also always created favorable conditions for investors’ development. The province now focuses on perfecting the zoning of the local auxiliary industry development. This will help the province boost production and further absorb investment after Vietnam officially joins the Trans-Pacific Strategic Economic Partnership Agreement (TPP). Provincial leaders and authorities at all levels will also always listen to investors’ contributive ideas for proper measurers to create a more favorable investment climate.

To effectively absorb foreign investment, Mr.Cung said that the province has concentrated on calling for high technology and highly competitive industrial production projects. The province has also attached special importance to drawing trade-service sectors relating to supporting industrial development and promoting urban and tourist development; been resolute in reforming administrative procedures; effectively taken the Government’s measures to stabilize political security, actively support enterprises…

Reported by T.Binh-H.Van-Translated by K.T