Rebound from FDI capital

Update: 01-09-2017 | 14:39:05

After 20 years of constant innovation and creativeness in socio-economic development, Binh Duong is among the country’s top five localities in FDI attraction. Noticeably, many FDI businesses have continued expanding their production and business activities…, significantly contributing to the local common development.

Impressive figures

Binh Duong has so far absorbed 2,939 FDI projects with a total registered capital of US$27.43billion, ranking second nationwide in FDI attraction only after HCM city. As of 2017’s quarter III, the whole province lured more than US$1.67billion in FDI capital or 119.4% of the year’s plan.

Production of Punch Industry Manufacturing Vietnam Co.Ltd. at Ben Cat town-based My Phuoc industrial park 3

Some typical FDI projects during the period included the expanded Vietnam-Singapore Industrial Park (VSIP) 2 project of VSIP Joint Venture Co.Ltd. with investment capital of nearly US$285million; South Korean-invested Kolon Industries Group’s factory manufacturing industrial fabric for automobile tires; Tetra Pak Binh Duong Joint Stock Company’s factory producing packages for liquid foods capitalized at US$124million…

There were also some FDI projects increasing their capital for production-business expansion. Particularly, Taiwanese-invested Polytex Far Eastern Co.Ltd. raised its capital by nearly VND486million. Or, Singaporean-invested Alliance Print Technology Co. Ltd. poured additional US$14million into its production-business…

Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that the province’s FDI attraction has always obtained good results thanks to combined elements, in which concentrated industrial parks have met requirements of investors. Therefore, the majority of FDI projects make investment into the local industrial parks. This is in line with the province’s sustainable investment attraction orientations and meets requirements on environmental protection. The province has also attached special importance to reforming administrative procedures, contributing to drawing more FDI projects.

A flexiable Binh Duong

Mr.Otoica, Director of Singapore’s Tetra Pak Joint Stock Company said that Binh Duong now possesses well-built industrial parks together with “clean” land fund that is ready for investors and provincial leaders’ close attention…All are attractive to investors, including Tetra Pak.

According to Yamamoto, Chairman of province-based Japan Business Association said that the province has made efforts in administrative reform. Provincial Customs Department over the past time organized dialogues with businesses, opportunely helping remove their queries pertaining to the law. It is hoped that the province will further try harder for the local common development.

In terms of the local investment attraction strategy from now till 2020, Tran Thanh Liem, Chairman of provincial People’s Committee said that Binh Duong will concentrate on vigorously absorbing FDI capital to create a breakthrough in industrial, service and hi-tech agricultural development, contributing to increasing the local State budget collection and economic structure shift. Accordingly, the province will give priority to calling for investors to make investment in industries that generate environmentally friendly products with great value…

To successfully realize the goals of the strategy, Mr.Liem affirmed that Binh Duong will further research and supplement policies on investment attraction; well carry out solutions to support businesses…Apart from improving the quality of human resources, the province will boost administrative reform, enhance the effectiveness of State administration …

Reported by Duy Chi-Translated by K.T

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Rebound from FDI capital

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