VSIPs always attractive to investors

Update: 22-01-2016 | 17:16:20

In 2015, province-based Vietnam-Singapore Industrial Parks (VSIPs) continued being an attractive destination for investors. The total amount of FDI capital flowing into the VSIPs last year was US$538.8mln or 179.6% of the year’s plan.

This is a production line of Sakata Inx Vietnam Co.Ltd. in Thuan An town-based VSIP I

Absorbing big investors

Ly Hung, Deputy Head of provincial VSIPs Management Board said that province-based VSIPs last year saw a 61.9% and 73.8% increase in the number of newly-licensed FDI projects and the amount of the newly-registered FDI capital. The result showed that province-based VSIPs continued being attractive to investors last year, due to well-built infrastructure. In addition, the VSIPs Management Board boosted marketing work, especially for big investors like Samsung, LG; facilitated investors’development; opportunely removed their obstacles in the process of realizing projects…

In 2015, many big investors in the world selected province-based VSIPs to make investment. Particularly, Procter & Gamble (P&G) Viet Nam started construction of its US$100mln-Gillette razor plant of more than 8 hectares in VSIP II. Anheuser-Busch InBev Vietnam Brewery Co. Ltd. (AB InBev) also commissioned its brewery in VSIP II. The brewery can turn out 50 mln liters of beer a year in the first phase and will double the capacity in the next phase. With an initial investment of over US$24mln, Amway Vietnam Co.Ltd.’s factory with the state-of-the-art equipment and technologies was built on an area of nearly 55,000 square meters in VSIP II …

According to Leo Boo Wang, General Director of Amway Vietnam Co.Ltd., VSIP II has a modern and perfect infrastructure system in line with needs of the company. The birth of the company’s second factory in Binh Duong has also expressed the company’s long-term investment commitment to the locality. The second factory is expected to bring the company more economic benefits.

Effective operation

In 2015, businesses in province-based VSIPs worked stably and effectively.

Nguyen Van Luong, Deputy General Director of Esquel Garment Manufacturing Vietnam in VSIP I said that thanks to innovating production machines, equipment to raise labor productivity and product quality, especially applying modern management thought, the company basically fulfilled the set targets on output, export turnover and profit last year. The company’s labor productivity increased by around 5%; output by 10% compared to 2014.

Last year, Sakata Inx Vietnam Co.Ltd. commissioned its factory in VSIP I. The factory is specialized in manufacturing various printing ink products with the best advanced technology. As of now, the company’s production has reached stability on schedule.

All the above results continued affirming the attraction of province-based VSIPs to investors. Along with opportunities from Vietnam’s free trade agreements to partners, they will also create favorable conditions for the VSIPs to continue being an attractive destination for investors, especially big ones in the world.

In the coming time, Sembcorp Development and VSIP Joint Venture Co. will expand province-based VSIPs with a total area of 2,000 hectares. They will focus on absorbing hi-tech projects that do not cause environmental pollution.

In 2016, province-based VSIPs will strive to absorb additional US$350mln in FDI capital. Businesses in the VSIPs are expected to reach US$6.5bln in total revenue, pay US$60mln to State budget, generate jobs for 5,000 laborers.

Reported by Phuong Le-Translated by K.T

Share

VSIPs always attractive to investors

HIGHLIGHTS

MOST READ