Binh Duong has made a breakthrough in FDI attraction and become one of the countries’ localities with the most efficient FDI attraction. With many efforts in perfecting industrial parks, training human resources, expanding traffic systems…, the province has fulfilled its target of absorbing US$5bln in FDI capital in the 2011 and 2015 earlier than planned.  

Province-based FDI enterprises have worked effectively. In picture: Skin care products being manufactured at Rohto-Memtholatum Vietnam Co.Ltd. in VSIP I

Successes

In the 2005 and 2010 period, Binh Duong lured additional 846 FDI projects with total investment capital of US$7.3bln. The figure brought the total number of FDI projects in the province as of late 2010 to 1,966 with total registered capital of nearly US$13.5bln from investors in more than 40 countries and territories in the world.

With the above result, Binh Duong has set its target of drawing additional US$5bln in FDI capital in the 2011 and 2015 period. Since early 2011, Binh Duong has lured additional 326 FDI projects, lifting total FDI capital flowing into the province so far up US$19.7bln, up US$6.2bln compared to that of late 2010.

Binh Duong has seen a rapid increase in both quality and quantity for FDI projects. In the 2005 and 2010 period, province-based FDI projects focused on industrial manufacture. They included the US$360mln tyre manufacturing factory of Kumho Asian Group; the US$60.1mln confectionary processing factory of Orion Food Vina Co.Ltd.; the over US$190mln paper making factory of Kraft Vina Co.Ltd….

Since 2011, Binh Duong has drawn many large-scale FDI projects in trade-services and urban fields, including the US$1.bln Tokyu Binh Duong Garden City project invested by Becamex Tokyu Co., a join venture between Becamex ID and Japan’s Tokyu Group; the US$95mln Aeon Binh Duong trade center project…

Improving infrastructure for better service

Binh Duong’s positive results in FDI attraction over the past time made great contributions to the local socio-economic development and created a high value for industrial manufacture and services. To further absorb more FDI projects, Binh Duong has bent on infrastructure development, vocational training…to better serve investors’ demand.

For industrial infrastructure, Binh Duong has attached special importance to fostering industrial parks (Ips), which is seen as a lever to attract investors. The province has so far built 28 Ips with 9,095 hectares in total. Of these, 26 are operational with the rate of land tenancy reaching 65%. In investors’ point of view, province-based Ips have well-built infrastructure, helping them uphold their business efficiency. Binh Duong has also paid attention to training hi-quality human resources. Currently, the whole province has 8 universities, 10 vocational colleges and junior colleges, well serving investors’ labor demand.

In addition, Binh Duong has focused on traffic infrastructure development with many key projects, comprising of the My Phuoc-Tan Van expressway, the belt road No.3…In 2014, the My Phuoc-Tan Van expressway will be officially put into operation. This will be strategic transportation route of Binh Duong, opening new opportunities for the local sustainable economic development.

Such these apart, Binh Duong has taken good care of laborers’ lives. The province has attached special importance to building social welfare works such as social houses, recreational areas, hospitals, schools…The province has also implemented many incentive policies for laborers, contributing to taking care of their spiritual and material lives. All have helped laborers keep their mind on work. They are also a decisive workforce to the province’s success in FDI attraction.

Binh Duong’s FDI attraction in the 2011 and 2015 period has surpassed the set plan by US$1.2bln. With good preparation at present plus enterprises’ faith to the locality, Binh Duong’s FDI attraction till the end of 2015 is likely to be 50% higher than planned.

Reported by T.Minh-Translated by K.T