A clear and open business environment in addition to well-built
infrastructure in industrial parks have drawn more foreign investors,
especially Japanese ones, to fund new projects or add extra capital to
existing ones in southern Binh Duong province.
In addition to the Tokyu Group’s 1.2 billion USD real estate project,
Japanese investors have injected over 3 billion USD into over 170
projects in the southern province, which is known as the largest magnet
of investment in the country, in recent years.
On August 14, 12 Japanese investors received licences for their new and additional investments in the locality.
Many of Japanese investors have in these days arranged meetings with
the provincial authorities to talk investment opportunities.
On August 15, Vice Chairman of Japan’s Sun-S Group, Mashahiro Mizuno,
met with Chairman of the provincial People’s Committee Le Thanh Cung to
discuss the launch of the 240 million USD Wonderful Saigon Electrics
project, which will produce camera module used in mobile phone for
Apple, Nokia, and Sharp, at the Vietnam-Singapore Industrial Park
As one of the first investors landing on Binh Duong, Sun-S Group delivered a wish to expand operation in the locality.
Other Japanese-invested company, Saigon Stec, also spent 175 million
USD expanding its operations at VSIP II. Previously, it built a 340
million USD factory in the province to produce electronic circuit boards
Hidetake Senoo, the company’s
General Director, said that Saigon Stec had decided to increase its
capital funding to ensure that its long-term operations in Binh Duong
come to fruition.
According to financial analysts,
the strong inflows of FDI to Binh Duong, despite the global economic
difficulties, shows that the province has responded to demands from
investors for a safe and secure investment environment.
Binh Duong’s high quality infrastructure in industrial parks as well
as its provision of available amount of land is attractive to overseas
investors, they said.
To date the province has
developed 28 industrial parks, covering a total area of over 9,000 ha,
many of which have become well-known in international business circles,
including VSIP, My Phuoc and Song Than.
President of the Japanese Businesses’ Association in HCM City ,
investors are almost queuing up to invest in Binh Duong given its clear
and open business environment.
its existing strong points, local authorities have realised that they
need to pay more attention to improving local services and the quality
of its human resources as well as simplifying administrative procedures
to make it easier for investors.-VNA