With elements of improved investment environment, strong investment attraction, Binh Duong has created echo and good impression for investors. The provincial result of investment attraction has always led the whole country over the past years. Especially, in the first two months of this year Binh Duong has indicated a persuasive proof on effective investment environment.
The provincial People's Committee chairman Le Thanh Cung (right) receives entrepreneurs.
A persuasive proof In the first two months of this year, Binh Duong attracted more than US$720mil in FDI capital from 40 new and added-capital projects. This result has increased FDI capital source poured into the province up to 2,255 projects with the total capital of US$19.6bil. Besides, there were additional 258 domestic enterprises with the total registered capital of more than VND927bil and 29 added-capital companies with the total capital of more than VND695bil. Earlier, Binh Duong led the country in FDI attraction with US$2.6bil in 2012 and over US$1.4bil in 2013 and accounted for over 60% of total FDI capital in Vietnam in the first two months of this year. The mentioned figures show that Binh Duong’s investment environment has attracted investors strongly. Reaching success in steel production in Binh Duong over the past 20 years, Wada Yuji, general director of Maruichi Sun Steel JSC said that investing in Binh Duong is a luckiness and honor for the company, especially the provincial leaders’ attention and assistance have helped the company reach high results. The very advantage has created a great motivation for the company to invest additional US$120mil in building the second factory in the end of 2013, contributing to increase the company’s investment capital up to US$420mil. Aside from the mentioned factors, local authority’s attention and assistance for laborers have left good impression on investors, helping enterprises win a stable and effective investment. Therefore, Sun Steel has decided to cement long to Binh Duong. In terms of administration procedure, Binh Duong has always solved administration procedures rapidly, transparently and effectively. Mai Hung Dung, director of the provincial department of Investment and Planning said that the department grants business registration certificates to investors within 3-5 days. The quickness is thanks to local authority’s great attention. As an investor newly granted business certificate in 2014, Mr.Pittas Konstantinos, director of Medochemie Pharmaceutical product Co.Ltd. (The Republic of Cyprus), said “Through a survey on investment environment, our company has chosen Binh Duong. I advise you to invest in Vietnam, especially in Binh Duong. Binh Duong's infrastructure and material facilities are very good and modern plus administration procedures are solved rapidly while local leaders always facilitate investors' effective investment". Similarly, Le Jong Hee, chairman of the Korean Chamber of Commerce and Industry (KoCham) in HCMC said that the provincial leaders and departments, agencies have facilitated foreign investors' investment. Solid trust Improving quality of administration procedure reform, rapid granting of investment certificates, methodical planning of industrial parks, solving difficulties for businesses, paying much attention to education and healthcare and so on have created belief for enterprises. Moreover, enterprises are pleased to invest into Binh Duong because they local leaders are always friendly and help businesses solve difficulties. In addition, local leaders pay much attention to businesses' petitions and make the efforts to solve their problems quickly. Mr. Saeki Koichi, general director of Finecs Vietnam Co.Ltd. Under Japan's Finecs Group said that operation in Binh Duong since 2012, the company has enjoyed assistance from functional agencies and local leaders. Additionally, he highly appreciated straight answers of local leaders for businesses' problems. This creates trust for companies to invest into Binh Duong. Reported by T.Minh - Translated by A.C
