Binh Duong has set its target of absorbing more than US$1bln in FDI capital in 2014. But as of February 20, the province drew more than US$700mln in FDI capital from foreign investors. With such impressive result, it is believed that Binh Duong’s FDI attraction in 2014 will surpass the set target. The above foreign investors were honorably granted investment certificates from provincial People’s Committee at the commence ceremony of the building and development of Binh Duong New City and the opening ceremony of the provincial Integrated Administration Center on February 20. 

Provincial People’s Committee Chairman Le Thanh Cung (middle) handing over investment certificates to FDI enterprises

As of February 20, Binh Duong attracted additional 40 new FDI projects and extra ones with total registered capital of US$720.4mln, up 206% compared to the corresponding period of last year. The impressive result has brought the total number of FDI projects in the province so far to 2,255 with total registered capital of US$19.6bln.

Provincial People’s Committee also granted investment certificates to 24 new FDI projects and extra-ones with total registered capital of nearly US$700mln at the commence ceremony of the building and development of Binh Duong New City and the opening ceremony of the provincial Integrated Administration Center on February 20.

Among the newly-licensed FDI projects, some with great capital include Brussels’s Molenbergnatie Vietnam Co.Ltd capitalized at US$17mln, Luxembourg’s Camplast Solideal Vietnam Co.Ltd. with US$12mln, Japan’s Tanaka Ai Vietnam Co.Ltd. totaling US$15mln, South Korea’s Nexfil Co. valued at US$50mln, the Republic of Cyprus’s Medochemie Pharmaceutical Co.Ltd. with more than US$16mln…

Like many other newly-licensed FDI enterprises, Sachin Somaiah, Director of Molenbergnatie Vietnam Co.Ltd. said that after surveying, the company spoke highly of Binh Duong’s investment climate and decided to sort out Vietnam-Singapore Industrial Park to realize its investment project.

Along with new FDI projects, many operational ones in the province have decided to raise their investment capital for production expansion. For example, Holland’s Nedspice Vietnam Co.Ltd. poured additional US$10mln into processing of various farm products. Hongkong’s Midea Consumer Electric Vietnam Co.Ltd. also raised its investment capital by US$41mln for manufacturing and installing household electrical appliances...Noticeably, Japan’s Wonderful Saigon Electrics Co.Ltd. increased its investment capital by US$210 while U.S’s Kimberly-Clark Vietnam Co.Ltd. decided to pour additional US$113mln for production expansion.

In terms of raising investment capital, Takumi Sato, CEO of Wonderful Saigon Electrics Co.Ltd. said that his company decided to increase its capital for production expansion as Binh Duong’s investment climate was very favorable with well-built infrastructure at investors’ requirements.

A series of FDI projects has sharply flowed into Binh Duong is a good sign of the province’s FDI attraction. This also shows that Binh Duong is always attractive to investors. Mai Hung Dung, Director of provincial Department of Planning and Investment said that with the above result, Binh Duong, as of February 20, fulfilled 70% of the whole year’s set target on FDI attraction.

Possibly speaking, the above positive results in FDI attraction,  the commence ceremony of the building and development of Binh Duong New City and the opening ceremony of the provincial Integrated Administration Center were seen significant events, helping opening opportunities for investors. And It is sure that Binh Duong will fulfill and surpass the 2014 target of FDI attraction.

Reported by Q.Chien-Translated by K.T