Amid the world and nation’s economy facing difficulties, Binh Duong has still achieved a stable economic growth. Since early this year, the province’s investment climate has continued being improved with FDI attraction getting 101% of the yearly plan.
Yearly plan fulfilled
In the first half of 2015, Binh Duong has absorbed US$1.013bln in FDI capital or 101% of the yearly plan. Of these, US$657.2mln came from 74 newly-registered projects and US$287.1mln from 55 extra-ones at province-based industrial parks. The province as of late June 2015 absorbed 2,490 FDI projects with a total registered capital of US$21.427bln.
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Binh Duong continues being an attractive destination for investors. In picture: Auxiliary products being manufactured at My Phuoc 2 industrial park-based KBK Vietnam Company
Wu Chien Hung, Chairman of province-based Taiwan Business Association said that Binh Duong was a locality with good investment climate and the locality would continue attracting more Taiwanese investors. Whilst, Nguyen Nhat Anh Thu, representative of Takako Vietnam Company at Vietnam-Singapore industrial park (VSIP) said: “We have invested US$40mln in Binh Duong. Leaders of the company have always affirmed their decision making investment in the province is very proper”.
Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that Binh Duong in the first half of the year absorbed many great FDI projects in line with the province’s investment attraction orientation. Noticeably, the province lured a large-scale project in auxiliary industry for garment and textile. This was Far Eastern Polytex Co.Ltd.’s project to build a factory making synthetic fibers at Bau Bang Industrial Park with an investment of over US$274 mln in the first phase.
He added that the province’s investment climate has got better and better. Industries with advantages like electronics, mechanics, chemical, trade-services…have received more attention from investors. Over the past 6 months, there was also an increase in the number of business delegations visiting Binh Duong to seek investment opportunities
FDI capital sharply flowing into auxiliary industries
Noticeably, Binh Duong in the first half of the year drew many FDI projects in auxiliary industries like mechanics, plastic, electronics, garment-textile…
NPC Today Co.Ltd. poured US$30mln into production of plastic products with the annual capacity of 16,889 tons at expanded VSIP II. Nippon Chemiphar Vietnam Joint Venture Company spent US$25mln on manufacturing pharmaceutical products with the annual capacity of 550 mln tablets at VSIP I. Ojitex Vietnam Co.Ltd.’s branch also decided to spend US$30mln on making carton boxes with the annual capacity of 67.56mln square meters at expanded VSIP II...
With effective investment, many FDI projects in auxiliary industries in the province also raised their investment capital to expand production. Some with a large amount of added capital include Anheuser-Busch Inbev Vietnam Co.Ltd. with US$26mln; Srithai Vietnam Co.Ltd. with US$30mln; Sharp Min Technology Vietnam Co.Ltd. with over US$7.8mln...
Tran Van Nam, Chairman of provincial People’s Committee said that Binh Duong has focused on boosting infrastructure development and vocational training to further absorb more FDI capital. Especially, the province has bent on developing its traffic system and new rural areas, in which Binh Duong new city is seen as a highlight to better serve investors. Regarding investment attraction, the province has given priority to promoting high-tech and environmental friendly industries with high economic value; concentrated on well realizing issues relating to the environment and saving energy.
Reported by Phuong Le-Translated by K.T
