In recent years, to implement the restructuring of industrial production according to the 10th provincial Party resolution, Binh Duong province has carried out many solutions to effectively attract foreign direct investment projects (FDI).More importantly, FDI projects were increasing in terms of both quantity and quality, in accordance with the orientation towards sustainable socio-economic development of the province.
Manufacturing activities at Takako Vietnam Company (100% Japanese invested).
Increase in both quantity and quality
In addition to the forming and bettering of mechanisms, policies on investment attraction, the province continued to invest in the construction of infrastructure to be increasingly uniform, modern; enhance administrative reform; heighten the effectiveness of promotion activities, calling for investment... Thus, the province's FDI attraction achieved impressive results.
Only in 2019, the province continued to make a strong breakthrough in FDI attraction. According to PPC, up to 27 Nov 2019, the province attracted $3 billion 067 million, exceeding 119% of the annual target, up 49% over the same period last year. At present, the province has 3,753 FDI projects in effect with the total registered capital of $34.23 billion. As of Nov 2019, Binh Duong was ranked 2nd in the country in terms of FDI attraction, only after Ho Chi Minh City.
Notably, in the year 2019, besides investment projects in production fields as previous years, more large-scale investors appeared in fields of technology, factories for lease, real estate. The province attracted many projects with large investment capital, such as the project of Sharp Manufacturing (Vietnam-Singapore IP II-A) with capital $135 million; project of Nitto Denko Company (Japan), with investment capital of over $186 million.
At the beginning of Jul 2019, Tetra Pak-A multinational corporation specializing in food processing and packaging solutions-has inaugurated a factory in VSIP 2.With an investment of up to €120 million (100% of Swedish capital), this is the first factory of Tetra Pak Group in Vietnam to produce carton packaging for beverages, is able to expand its capacity up to 20 billion carton packages/year, supply to domestic market and export...
Selective investment attraction
The fact that many businesses choosing to invest in Binh Duong is not accidental, but rather as a result of a whole process with many efforts to create favorable environment for investors. According to Bùi Minh Trí, Head of Provincial Industrial Parks Management Board, Binh Duong has many advantages to attract investment. First of all, the province has a favorable position in the Southern key economic zone, socio-economic infrastructure in general and technical infrastructure of industrial zones, clusters in particular are invested synchronously and modern meeting the requirements of production and business.
In addition, the province drastically implemented the reform of administrative procedures, made every effort to create the most favorable conditions for people and businesses. At the same time, to assist the business, provincial leaders regularly hold dialogues with investors, industry associations to listen to their opinions, recommendations, thereby timely address, solve difficulties for enterprises to invest and develop.
Modern and synchronized technical infrastructures, internal and interregional transportation systems facilitate industrial growth as well as other socio-economic sectors. At present, Binh Duong has attracted FDI inflow from 64 countries and territories around the world. Besides continuous efforts to improve the investment environment, the province prioritizes investment in high-quality industries and services, support services for industry development, industries that create high values, environmentally friendly industries, save natural resources, land, reduce labor-intensive sectors...
Talking with foreign investors in a discussion session at Horasis Asia Meeting 2019 held in Binh Duong recently, Trần Thanh Liêm, Deputy secretary of Provincial Party Committee, Chairman of PPC , said after the introduction of local potential and investment opportunities, Binh Duong urged investors to cooperate in specific areas, such high-tech industries, auxiliary industry, information technology, electricity, electronics, precise mechanics, as well as investment in trade-service development, construction , infrastructure development and human resource training...
Mr. Liêm affirmed that as the strengths of technology, finance, international market network and business management skills of investors are combined with the advantages of this province, it would bring great and practical benefits for both sides. The provincial leaders are committed to working closely with businesses, ready to create the most favorable conditions for production and business activities of foreign investors.
Reported by Tri Dung - Translated by Ngoc Huynh
