In Q1 1012, Binh Duong province has continued reaping positive results in the field of attracting FDI projects, remarkably those from Japanese investors. This has showed that the province’s investment climate is still very attractive for foreign investors, especially Japanese ones…
Toshiaki Koshimura, chairman of Japanese Tokyu Corporation said that he decided to make investment in Binh Duong after his visit to the locality in July 2011. Provincial People’s Committee Chairman Le Thanh Cung handing over a certification of investment capital increase to Sun Steel JSC’s General Director Wada Yuji
Construction of the US$1.2 billion Tokyun Binh Duong urban area started in Binh Duong New City in early March 2012.
The project covers an area of 71.5 ha and is being built by Becamex Tokyu Company Limited, a joint venture between Becamex Investment and Industrial Development Corporation (Becamex IDC) and the Japanese Tokyu Corporation.
It will include shopping malls, amusement parks and 7,500 apartment buildings. Once completed, it will contribute to the sustainable development of Binh Duong New City.
Currently, this is the largest urban area project in Binh Duong and is also the project with the biggest foreign investment capital here.
Meanwhile, province-based Japanese enterprises have also decided to increase their capital for production expansion.
Sun Steel Joint Stock Co., which is specialized in manufacture of structural steel, metal plated corrugated iron, coated color corrugated iron, steel pipe…, has got the highest level in capital amount increased.
The company has operated stably in Di An town’s Tan Dong Hiep ward with a factory covering 30 hectares and reaching the annual capacity of 2.25 mln tons. To expand production, the company has decided to raise its capital to US$420mln from US$300mln.
Many other Japanese enterprises said that they will also increase their investment capital this year.
Tokyo Rope Vietnam Co.Ltd. expects to spend additional US$45mln on expanding its factory in the Vietnam-Singapore II Industrial Park (VSIP II).
This will help lift the company’s total capital in VSIP II to nearly US$69mln and the company’s month output to 1,000 tons, three times higher than the current level.
Similarly, Showa Gloves Vietnam Co.Ltd. will raise its investment capital to US$100mln.
The province has so far drawn nearly 160 Japanese-invested projects with a total investment capital of US$2.6bln and is now among three countries with the biggest investment capital in the province.
In a recent working visit to Binh Duong, Wada Kisaburo, chairman of the Trade Promotion Association of Japan’s Sakai city said: “We have spoke highly of Binh Duong’s fast development and investment climate. In the coming time, we will promote cooperation between association’s enterprises and Binh Duong…”.
