Despite general shortcomings of global and domestic economy, the timely, creative and synchronous measures of foreign investment attraction in Binh Duong Province have yielded good results. Binh Duong Province maintains its position of investment attraction.
FDI gains by 182% of year’s planning in 11 months
In 2015, Binh Duong Province continues to gain achievements in foreign investment luring. According to Department of Planning and Investment, from the beginning of the year to the end of November 2015, Binh Duong Province has attracted US$ 1.823 billion of FDI, gaining 182% of the year’s planning and 19% higher than in 2014. For the result, Binh Duong Province maintains its 4th position of the top provinces of highest FDI attraction in the nation. Accordingly, the province keeps on affirming its important role and position in investment attraction in the nation and the major economic zone of the South.
The production is on-going at Dong Hung Industry JSC in Di An Town. Photo: Xuan Thi
Not capital alone, quantity of investors and projects has been noticeably mushroomed. In the spotlight, Far Eastern Polytex Vietnam Co. Ltd. in Bau Bang Industrial Park has invested US$ 275 million in the first stage to fiber factory servicing textile industry. Binh Duong Province has just issued investment registration certificates to 38 FDI enterprises accounting for up to US$ 531 million of investment capital. Of the figures, 23 projects are newly implemented with to total capital of US$ 203 million. Particularly, the project of furniture factory in Thanh An Industrial Cluster of Dau Tieng District by Samoa investors, accounting for US$ 50 million. Besides, the factory project of SJF Vina Co. Ltd. for car spare parts is accounted for US$ 10 million of capital; the project of Vistarr Sports Co. Ltd. to produce cricket balls is accounted for US$ 12 million. At the latest, on December 5, Binh Duong Provincial People’s Committee issued investment registration certificates to Cheng Loong Group of Taiwan accounting for up to US$ 1 billion in civil and industrial paper production.
To promote investment marketing
Mr. Thai Dong Hoa, the General Director of Cheng Loong Group informed that Binh Duong Province has very high annual GDP growth, exceeding average growth of Vietnam as a locality in the major economic zone of the South of Vietnam. By investigation, he realized that Binh Duong Province is potential for development by the active support of provincial leaders regarding investment procedures. Thus, the group has decided to invest into Binh Duong Province and expand the same in the future.
During the industrialization process, Binh Duong Province is considered as a province of progress and the leader in investment attraction. However, Binh Duong Province is promoting the preliminary results through marketing the investment attraction to potential markets in Japan and South Korea. Japanese investors, especially, are occupying the majority of projects in Binh Duong Province and nationwide. This is the major success, helping Binh Duong Province to meet the targets of investment luring quantitatively and qualitatively in the province.
Currently, Binh Duong Province, aside from industry, is developing services and urban areas which are the two factors of foreign investment luring. Besides, Binh Duong Province has rationally built up promoting programs and investment invitations, keeping up the contact and listening to timely resolve the obstacles during the projects. Thus, they have won the trust of investors. The province has also promoted infrastructure construction and improved foreign investment environment and administrative reforms to enhance provincial competitiveness.
Mr. Mitsuhiro Mori, the President of Japanese Enterprise Association in Ho Chi Minh City, affirmed that foreign investors expect to see the focus and investment of Binh Duong Province into infrastructure. Thus, for the time to come, Binh Duong Province will still be the location of foreign investment attraction.
By the end of November 2015, Binh Duong Province has attracted 2,567 FDI projects of registered investment capital of US$ 22 billion, of which, 1,523 projects of investments of US$ 13.972 billion, accounting for 62.8% of FDI capital into the province. The capital resources are rich from 40 nations and territories. This showed that investment environment and preferential policies of the province have been in place.
Reported by Khanh Vinh – Translated by Vi Bao
