In 2010, Binh Duong province’s FDI attraction has continued to reach positive results. This also affirms that Binh Duong continues to be an attractive destination for foreign investors.

 

Target fulfilled earlier than scheduled

 

As of late Oct. 2010, Binh Duong province absorbed 104 new FDI projects with a total registered capital of US$413mln and 135 extra-ones with US$536mln. Possibly speaking, with the result, the province’s targets of luring more than US$1bln in FDI capital this year has been fulfilled earlier than planned. The whole province has so far lured 2,006 FDI projects with a total registered capital of nearly VND13.7bln.

 

 

Noticeably, the province’s FDI attraction for 2010 has seen rapid growth on quality and diversification in investment fields like real estate trading, trade-services, manufacture of health tools, electronic products, car components…Another thing is that up to 70% of FDI capital this year have been poured into province-based IPs.

 

Huynh Van Trai, Director of provincial Department of Planning and Investment said that the province’s result in FDI attraction this year is a good sign as the sector has greatly contributed to the economic growth of the province as well as creating high industrial production value…

 

Province’s investment climate highly appreciated by foreign investors

 

At a recent meeting with provincial leaders, Noboru Matsuda, CEO of Japanese Finecs Group has spoke highly of Binh Duong’s investment climate and said that the project of Finecs Group in the VSIP 1 has been going smoothly. In 2011, Finecs Group expects to start construction of its factory with total investment capital of nearly US$3mln and annual capacity of 5bln of products. Currently, 32 Vietnamese engineers who are the cadres of the factory have been sent to Japan for training to prepare for the operation of the factory.

 

Prior to that, Lotte Group, one of the five top groups in South Korea sought investment opportunities in Binh Duong. Hong Pyong Gyu, General Director of Lotte Vietnam Co.Ltd. said that Lotte has highly appreciated the position of Binh Duong and this will be also a locality that Lotte will give priority to making investment in its strategy of developing a network of 50 marts in Vietnam. Lotte will quickly select the place for investing and building Lotte Mart Binh Duong in TDM town, which is expected to put into operation in the next year.

 

In addition to investors from Asian countries such as Japan, South Korea, those from Europe have spoken highly of Binh Duong’investment climate. According to The Thiam Heng, CEO of Sukmono Vietnam under Padifood Group of Holland, Binh Duong has an open investment climate with well-built infrastructure and friendly residents….Thus, he believes that his company’s US$5mln-processing food factory in the Bau Bang industrial park will be successful.

 

Permanent vice-chairman of provincial People’s Committee Le Thanh Cung said that thanks to having advantages about infrastructure, hi-tech workforce…, Binh Duong has become an ideal destination for FDI investors. Besides, the province has always made favorable conditions for FDI businesses’ development and quickly solved their queries for better development…

 

Reported by Trong Minh-Translated by K.T