Year-end investment projects rushed up

Year-end investment projects rushed up

In recent years, Binh Duong province continues with many efforts for business investing environment of equality and clearance for investors. Thus, foreign capital is strongly flowing into the province.

Many large projects attracted

According to the latest report from the Binh Duong provincial Department of Planning and Investment, in the first 10 months, the province has attracted over US$ 1.6 billion of foreign direct investment (FDI), reaching 163% of the yearly plan, higher than 40% of the same period of the previous year. In which, 165 new investment projects with total capital of over USD 910 million and 107 projects with a total adjusted capital by over  USD 721 million have been notably noted. Thus, the cumulative sum through October 2015 of Binh Duong has been for 2,548 FDI projects with total registered capital of over USD 22 billion.

FDI attraction in the last period increased not only in total investment capital, but also in scale of each project. In the recent years, large investment projects in the field of textile supporting deserved recognition. This was investment of Vietnam Far Eastern Polytex Co.Ltd. with total capital of phase 1 of up to USD 275 million. After completing investment periods, the project’s capital will be USD 1 billion with area of 400ha for a complex chain of chemical fiber industry, large-scale textile dyeing at Bau Bang Industrial Park.

The open investment environment and duly attention of provincial leaders attracted great investments into Binh Duong Province. In this photo: A leader of provincial People’s Committee is granting investment certificate to an enterprise. Photo: Xuan Thi

On October 29, Binh Duong province granted phase 3 investment certificates to 38 FDI enterprises with a total investment capital of up to USD 531 million. Among these are 23 new investment projects totaling USD 203 million. Notably, among these are investment projects of furniture factory in Thanh An Industrial Cluster by Samoa investor with a capital of USD 50 million for the scale of production of about 100,000 tables, 200,000 sofas, and 150,000 beds and wardrobes. And, it can be stated for factory building of SJF Vina Co. Ltd., the investor of car parts at USD 10 million of investments; Vistarr  Sports Co.Ltd., a manufacturer of hard and soft baseball with 1.5 million tons a year at total investment of USD 12 million.

Also at the ceremony, DDK Corporation of Taiwan made an important agreement with Becamex IDC for leasing of 80ha at Bau Bang Industrial Park.

 “We will establish a joint venture to invest into a project specializing in manufacturing bike parts and plastic components in Vietnam with a capital of about USD 250 million for developing infrastructure, attracting investment of about 60 enterprises in the same industry. The project may create job for about 8,000 laborers,” said Richard Tsai as the Chairman cum General Director of DDK Corporation.

Confidence to be improved

Beside new investment projects, foreign enterprise community also put their confidence in increasing capital of their investment projects. Thus, on the occasion of investment certificate granting, 15 projects were adjusted with investment capital up to USD 328 million. This showed that the enterprises have not only seen large advantages of Binh Duong province, but also trusted in the provincial open investment environment as well as close commanding of local leaders.

After an investment period into Binh Duong province and on thorough grasping of provincial policies and guidelines, Kraff Vina Paper Co.Ltd. (a joint venture of Thailand and Nhat Ban and manufacturer of wrapping paper) decided to increase its capital up to USD 130 million, increasing total investment capital in Binh Duong Province up to over USD 453 million. Chai Wiriyaumpaiwong, General Director of the Company said that the Company decided to increase its capital not only to serve business but also to undertake clean project and modern technology implementation.

In December 2014, Indochina Procter & Gamble (USA) Co.Ltd. was granted investment certificate for the project of Shaver factory with total registered capital of USD 15 million by provincial People’s Committee. However, after a time of implementation, on knowing Binh Duong provincial advantages, the Company decided to add up USD 48.5 million to its capital resources in order to aim for increasing productivity up to over 108 million products per year. 

Additionally, there were many other projects of investment capital increment in this phase including Vietnam GS Battery Co.Ltd. (adding up USD 9 million), Vietnam Liwayway Joint Stock Company (adding up USD 8 million), etc.

Apparently, by good infrastructure preparation and efforts of administrative reforms, Binh Duong is becoming more attractive for new investors and business community investing into the province. Therefore, the expansion of new investment projects and investment capital adjustment in recent years have also with positive signs to attract investments in the future.

Reported by Khanh Vinh – Translated by T.H

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