As a newly-established district, Bau Bang has made efforts to surmount difficulties and reached robust growth. Noticeably, the district’s industrial production over the past time developed vigorously, absorbing FDI projects with great capital.
Attracting nearly US$1.3billion in FDI
Over the past time, Bau Dang district coordinated with Investment and Industrial Development Corporation (Becamex IDC), the investor of Bau Bang industrial-urban park to set up programs, plans to absorb investors. The district, from April 2014 to 2015, absorbed 12 FDI projects capitalized at US$537.53million. In 2016 alone, there were additional 11 FDI projects totaling more than US$55.7million…
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Tran Thanh Liem (middle), Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee handing over licenses to enterprises making investment in the Bau Bang urban-industrial park
Nguyen Huu Chi, Secretary of Bau Bang district’s Party Committee said that over the past time, the district worked with sectors, departments and enterprises to boost activities calling for investment. The district has to date lured 73 FDI projects with total registered capital of more than US$1.29billion. Among them, some with great capital include Taiwan’s Polytex Far Eastern Co.Ltd. with more than US$274millin, Seychelles’Yue Change Vietnam Co.Ltd. with US$10million…The signing of memoranda of understanding (MoU) with investors also proved the local potential in investment attraction. For example, Becamex IDC signed a MoU with TPP Investment LLC on the establishment of a Vietnam-US industrial zone at the Bau Bang urban and industrial park. It also signed a MoU with Taiwan’s Active International Co.Ltd. and other FDI enterprises to develop a specialized zone on bike and bike components with initial capital of nearly US$250million…
The district’s success in investment attraction also came from the flexibility of the local leaders in administrative reform and infrastructure development. Other advantage was that the local order and security was ensured well, making investors feel secure to work…
Effective investment climate
Bau Bang district has so far built up an open investment climate with administrative reform effectively realized, absorbing more investors.
Tsai Wen Jui, General Director of Active International Co.Ltd. said that Taiwanese enterprises have spoken highly of Binh Duong’s investment climate. For that reason, Taiwan’s Active International Co.Ltd. decided to select the Bau Bang urban-industrial park with well-built infrastructure to realize its project. After surveying 27 industrial parks in Vietnam, Park Dong Moon, CEO of South Korea’s Kolon Industries also sorted out the park to make investment.
Mr.Chi affirmed that the investment project of Kolon Industries in Bau Bang district was considered as a highlight to promote the local economic development. This also showed the local potential in investment attraction. Once completion, the project will contribute to absorbing others to serve its production activities.
Kolon Industries also announced a land lease contract with Becamex IDC. Accordingly, it will rent a 42-hectare area in the Bau Bang urban-industrial park to construct a US$1-billion factory manufacturing airbags and industrial fabric for automobile tires. It is expected for completion in mid 2018 and this is the third factory of Kolon Industries after two others in South Korea and China.
Reported by Hoang Pham-Translated by K.T
