Many large-scaled urban and service projects
In 2012, among Japanese investors investing in the province, there were many investors specially paying attention to urban, trade and service fields. Specifically, Tokyu Corporation invested in Tokyu Binh Duong urban area at the hub of Binh Duong New City. The 71.5ha project will include about 7,500 apartments, entertainment facilities, offices with the total investment capital of over US$1.2bil. The projects are considered as the provincial biggest urban area and have the largest FDI capital source in the locality so far.
According to economists, Tokyu Binh Duong Urban Area will impact positively on many issues. Toshiaki Koshimura, chairman of Tokyu Corporation affirmed that this is a top modern urban area in Vietnam, making a highlighted character for the hub of Binh Duong city in the future and creating a driving force to lure FDI, especially groups from Japan.
Another big project of Japan in Binh Duong is the shopping mall of Aeon Group – the famous retailer of Japan. The 6ha project has been built at Thuan An town with the total investment capital of US$95mil. According to Nagahashi, deputy president of Aeon Group, the project will place stable jobs for over 1,500 laborers.
Increasing high tech projects
Aside from projects invested in urban and service fields, in the past year many Japanese enterprises also boosted investment in hi-tech projects.
Accordingly, Dai Nippon Printing Group invested in film production plant worth US$35mil; Meiwa Co.Ltd. invested in chip and robot production and auto component production with the total investment capital of US$6mil.
Along with the new investors, many Japanese companies in 2012 increased their capital sources to expand production and business. They included Nitto Denko Co.Ltd. increasing US$24.5mil to manufacture accurate electric materials; II-VI Vietnam Co.Ltd. spending nearly US$16mil to expand infrared glass production; Uchihashi Co.Ltd. increasing US$4.1mil to make induction equipments…
Notably, Sai Gon Stec Co.Ltd. increased more $175mil to expand its production and business whilst Wonderful Sai Gon Electrics Co.Ltd. added more $150mil to raise its production capacity.
In the recent meeting, the provincial People’s Committee chairman Le Thanh Cung highly valued Japanese enterprises and said that Japanese companies have been in good operation and excelled Vietnam’s policies, contributing to accelerate local socio-economic development.
To welcome the wave of new investments and serve for investors, especially Japanese enterprises, Binh Duong has spurred technical infrastructure investment, manpower training and so on.
Regarding Japanese companies’ capital increase, Mitsuhiro Mori, chairman of Japanese Business Association in the HCMC, said Binh Duong’s investment climate is very attractive and Japanese investors trust in Binh Duong’s potentials. Therefore, many Japanese companies operating in the province have increased their capital sources for the sake of production and business.
Assessing Binh Duong’s policies, Mitsuhiro Mori highly valued the provincial leaders’ attention to investors.
Once businesses operating effectively, they will contribute to local economic growth and cement friendship and cooperation ties.
Until now, the entire province has had 167 Japanese projects with the total investment capital of more than US$3.1bil, accounting for over 18% of total foreign investment capital in Binh Duong. Most of the Japanese projects have focused on hi-tech fields such as auto, spare part, processing food, beverage production and so on.
During the process of operation in Binh Duong, most of the Japanese companies have excelled the State’s policies and paid much attention to laborers’ living as well as focused on the community’s profits.
Specifically, Rohto-Mentholatum Vietnam Company has held significant activities such as free eye check-up program at high schools, scholarship granting to poor students…; Acecook Vietnam JSC, Showa Gloves Vietnam Co.Ltd. has paid much attention to laborers; Kubota Company has granted plough machine for cooperatives; Tsuchiya Tsco Company has donated charity houses to victims of Agent Orange/dioxin…
Reported by T.Minh – Translated by A.C
