Trust is number one
Despite economic downturn, Japanese investment projects being poured into the province increase highly. This is an important impetus, contributing to spur local socio-economic development and showing Binh Duong as an attractive destination for investors.
Explaining why Japanese businesses have strongly invested in Binh Duong, Yamaguchi Kimio, chairman of Japanese Business Society in HCMC said that the provincial leaders have won trust of Japanese entrepreneurs. He highly valued Binh Duong’s dynamic development over years, especially modern development of infrastructure facility. “Many businesses have chosen Binh Duong to invest in. And, the locality will attract Japanese companies in particular and other businesses in general in the years to come”, he added.
Assessing operation of Japanese businesses, Le Thanh Cung, chairman of the provincial People’s Committee said that most of Japanese businesses operating in the province are under efficient operation and excellent completion of Vietnamese legal policies.
To welcome more investors from Japan in particular and cater better for all investors in general, Binh Duong has accelerated investment in technical and urban infrastructure as well as focused on manpower training and housing construction, etc. Implementing those goals, Binh Duong hopes to create more advantages to help businesses reap fruits in the locality as well as to reinforce trust of local businesses.
Japanese capital raises
Since the start of this year, many Japanese projects with huge values have been continued investing in Binh Duong. Specifically, they include a US$38mil project invested by Panasonic Ecosolutions Vietnam Ltd., Toin Vietnam Co.Ltd’s $12mil project, especially Maruzen Foods Corporation’s $104mil project and many more.
Aside from new projects, many Japanese businesses have increased their capital sources to expand production. They consist of Starwood Vietnam Co.Ltd., EB Binh Duong Co.Ltd. and so on.
Talking about his investment decision in the province, Toshiyuki Hayashi, director of Maruzen Foods Corporation, said “After research and survey on investment environment in Vietnam, we realize that Binh Duong meets all our requirements. With a transparent investment environment plus available infrastructure facility as well as local leaders’ assistance, we decide to choose Binh Duong for our investment”. Similarly, Takahashi Ogasawara, director of Panasonic Ecosolutions Vietnam, said “We choose Binh Duong for our investment because the locality has good and synchronous infrastructure facilities”.
Local leaders make a tour to a Japanese business.
Abundance of investment areas
According to the provincial department of Planning and Investment, aside from hi-tech fields, many corporations from Japan have paid much attention to areas of urban infrastructure development, real estate, trade-service, etc.
Among investment projects in urban development, trade-service, there are many projects with huge capital source including Aeon Corporation’s trade center project, capitalized at $95mil built in Thuan An town. Once put into operation, the project will place jobs for more than 1,500 laborers.
Notably, Tokyu Corporation’s Binh Duong Tokyu urban area project has a total investment capital of over $1.2bil to be built in Binh Duong new city. This is the biggest project in Binh Duong so far. Toshiaki Koshimura, chairman of Tokyu Corporation said that the project would help Binh Duong lure more FDI capital sources.
Reported by T.Minh – Translated by A.C
