Japan ranks second in foreign investment in Vietnam. In Binh Duong province alone, there are 249 Japanese-funded projects with a total registered capital of more than US$5.21billion, ranking second among countries and territories making investment in the province and accounting for 18.7% of the province’s total FDI capital.
Projects with modern technologies
According to the latest figure released by Japanese Consulate General in HCM city, Binh Duong now rank second nationwide in investment attraction from Japan. The province has so far absorbed 295 Japanese-funded projects with a total registered capital of more than US$5.21billion, accounting for more than 9.8% of total number in FDI projects and nearly 15.5% in total amount of FDI capital. Most Japanese-funded projects herein have been developed with modern technologies, contributing to generating jobs for tens of thousands of laborers.
Customers at Aeon Mall Binh Duong Canary complex in Thuan An town
Some noticeable Japanese-funded projects in the province include Tokyu Group’s Tokyu Binh Duong city project with a total registered capital of US$1.2billion; Aeon Mall Vietnam Co.Ltd.’s Aeon Mall Binh Duong project capitalized at US$95million; Sun-S Corporation’s Wonderful Saigon Electrics Co.Ltd. project totaling US$450million. Takashi Yasue, Head of province-based Japan Business Group said that members of the group have had good feedbacks on the efforts by the local administration in creating favorable conditions for them to work. And with the local investment climate always improved, Binh Duong is seen as the top option of Japanese enterprises when seeking investment opportunities in Vietnam.
Facilitating Japanese enterprises’ development
Hideyuki Okada, Chairman of HCM city-based Japan Business Association made the statement during his recent working visit to Binh Duong.
At the working visit, he said that the number of Japanese enterprises in Vietnam has amounted to 1,800. They are divided into 13 groups nationwide. Among them, the Japanese group in Binh Duong is the most members with 140. Over the past time, province-based Japanese enterprises enjoyed favorable conditions for the best development.
Mr.Takashi Yasue, Head of province-based Japanese business group also said that members of the group have had good feedbacks on the efforts by the local government in supporting them to work. With the investment climate always improved, Binh Duong is seen as the top selection of Japanese enterprises when seeking investment opportunities in Vietnam.
Obviously, with advantageous conditions, Binh Duong has become an attractive destination for Japanese investors. FDI capital flow into the province will continue strongly increasing in the coming time, greatly contributing to the local development, according to experts.
Also according to the latest analysis of provincial Department of Planning and Investment, each Japanese-funded project is worth more than VND24million on average. This is the highest figure among countries and territories making investment in the province.
Dang Minh Hung, Vice-Chairman of provincial People’s Committee said that province-based Japanese enterprises made contributions to the local socio-economic development over the past time. Along with business activities, they actively got involved in social charity activities…He also wants that they will continue growing up and accompanying the local development in the coming time.
Reported by Khanh Vinh-Translated by K.T
