Since early this year, businesses at Binh Duong-based VSIPs have continued operating very effectively with a stable growth.
Stable production
Ly Hung, Deputy Head of Vietnam-Singapore Industrial Parks (VSIPs) Management Board said that since early this year, businesses at province-based VSIPs have continued operating stably. Their total revenue in the first half of the year was estimated at US$3.5bln, up 29% against last year’s same period or 68% of the yearly plan. They also secured US$2.7bln in export turnover, up 35% over last year’s same period or 67% of the yearly plan and paid US$30mln for State budget or 50% of the yearly plan.
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A production line of Sansho Vietnam Co.Ltd. at VSIP 2
According to Nguyen Nhat Anh Thu, General Director of Takako Vietnam Co. at VSIP, capitalized at US$40mln, her company has so far worked very stably with the annual income of US$40mln. The company now aims at coordinating with domestic businesses to manufacture various machines for irrigation in Vietnam in general and in Binh Duong in particular.
Businesses at province-based VSIPs in the first half of the year reached US$2.7bln in export turnover while their import value was estimated at US$2.27bln. Thus, their trade surplus was US$430mln. This showed that they have reached stability in export market and taken full advantage of domestic supply chains to gradually decrease their import value.
Investment attraction promoted
As of July 15, province-based VSIPs absorbed more than US$330.72mln in FDI capital. Particularly, there were 27 newly-licensed FDI projects with total registered capital of more than US$147mln and 25 extra-ones with nearly US$183.66mln.
Some newly-licensed FDI projects include SNP Co.Ltd., which is specialized in manufacturing apparel products and making computer embroidery on them, with total investment of US$6mln at VSIP 2.; Tambour Vietnam Co.Ltd. producing various paints with total investment of US$6mln at VSIP 2; Unicoh-Tech Vina Co.Ltd. making electronic components with total investment of VND300,000 at VSIP 1…
Realizing that Binh Duong’s investment climate is very good, Japan’s Sansho Group decided to set up Sansho Vietnam Co.Ltd. at VSIP 2. In April 2015, the company was granted a license to build its factory, specialized in manufacturing various plastic products for automobiles, with total investment of more than VND295.89bln. Imaie, CEO of Japan’s Sansho Group said: “Binh Duong has a good investment climate with VSIPs having modern infrastructure plus provincial leaders’ attention to investors. All are advantageous conditions for our company to work effectively”.
Businesses’ effective operation and investment attraction on rise are favorable conditions for province-based VSIPs to promote the local industrial manufacture in particular and the local economic development in general.
Reported by Phuong Le-Translated by K.T
