Since early this year, Japan has continued leading foreign investment in Binh Duong. Many Japanese groups have recently visited and explored investment opportunities in the province. With this plus current advantages, it is believed that the province will absorb more investors from Japan in the coming time.
Increase in both quantity and quality
According to provincial People’s Committee, Binh Duong absorbed US$1.48bln in FDI capital in the first 10 months of 2014. The whole province has so far attracted 2,359 FDI projects capitalized at nearly US$20.3bln from 39 countries and territories.
Japan now leads foreign investment in Binh Duong with 225 projects worth approximately US$4.7bln, accounting for 9.5% in number of FDI projects and 23% in amount of FDI capital in the province. On average, each project from Japan is valued at US$17.5mln, the highest figure among countries and territories pouring investment into Binh Duong at present. There is a diversification of Japanese enterprises’ investment scopes, ranging from urban infrastructure development, trade-services to electronics, food processing to auxiliary industries…
Provincial leaders visiting the Aeon-Binh Duong Canary mall in Thuan An town
Noticeably, two large-scale projects invested by Japanese firms in urban infrastructure and trade-services have been put into operation in 2014. The first project is Japanese Aeon Group’s Aeon-Binh Duong Canary shopping center just inaugurated with total investment capital of US$95mln. As of now, this is the biggest project in trade infrastructure development and retailing in Binh Duong.
The second one is the SoraGarden I project. This is the first project of the Tokyu Binh Duong garden city complex capitalized at US$1.2bln. Once operational, it will contribute to creating a highlight for the center of Binh Duong city in the future while contributing to attracting more FDI capital, especially from Japanese groups.
Creating the most favorable conditions for investors
With the current advantages, it is believed that Japan will make strong investment in Binh Duong. Many Japanese groups are now very invested in Binh Duong. Noticeably, new investment fields will be invested by them.
During his recent visit to Binh Duong, Takahashi, CEO of Kandenko Power Co. under Japan’s Power Corporation said that his company wanted to coordinate with Becamex IDC to invest in power development projects and others in the province. Accordingly, the company will make a survey on some relevant issues for investment in Binh Duong, which is implemented from November, 2014 to till March 2015.
Lately, a business delegation from Hiroshima city’s Chogoku region in Japan has also visited Binh Duong to explore investment opportunities, especially in the automatic machinery industry.
Tomoyuki Eguchi, Head of Hiroshima city’s Chugoku Bureau of Economy, Industry and Trade said that the delegation was impressed by the economic development of Binh Duong with a favorable investment climate. After the visit, the delegation will collect all relevant information and send them to Chugoku region’s enterprises in the automatic machinery industry for concrete investment plans in the coming time.
Speaking at the working sessions with Kandenko Power Co. and businesses from Hiroshima city’s Chogoku region in Japan,Tran Van Nam, Permanent Vice-Secretary of provincial Party Committee spoke highly of Japanese companies’ effective operations in the locality. He added: “ Province-based Japanese projects now focus on urban infrastructure development and industries with high technology, great competitive ability…, which is suitable to the local sustainable industrial development orientation. The province will also continue effectively carrying out administrative reforms, improving quality of human resources and developing its infrastructure, creating the most favorable conditions for foreign investors…”.
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