The FDI capital flow from Japan to Binh Duong has created strong impressions, thanks to having efficiency and professionalization in investment projects and practical contributions to the local development.
Impressions from Japan’s capital flow
Thanks to great efforts in investment attraction, Binh Duong luckily has “good friends” like Singapore, Japan, South Korea…Among them, Japan is very impressive with methodical and professional working manner.
Binh Duong has so far absorbed 2,775 FDI projects totaling US$25.18billion. According to the latest statistics by provincial Department of Planning and Investment (DoPI), Japan has poured US$5.13billion into the province with a total of 241 projects, ranking second among 39 countries and territories making investment in the province.
Over the past years, Binh Duong constantly improved the local investment climate towards a sustainable development goal. The province’s strong industries like electricity, electronics, mechanism, chemical, trade-services…that are prioritized in calling for investment also received great attention of the business community, especially Japanese investors.
Nguyen Thanh Truc, Director of provincial DoPI said that Binh Duong is one of attractive destinations for Japanese investors. Many Japanese groups have continued selecting Binh Duong for their investment, which is also seen as a good sign for the local investment attraction. This shows that the local investment climate is always attractive to Japanese enterprises in particular and foreign ones in general.
Noticeably, there is a diversification of Japanese enterprises’ investment scopes, ranging from electronics, steel production, food processing to auxiliary industry…Many Japanese-invested projects with great capital include Maruchi Sun Steel Co.Ltd. capitalized at US$420mln, Wonderful Saigon Electrics Co.Ltd. with US$240mln, Maruzen Foods Vietnam Co.Ltd. with over US$100mln…Each project from Japan is valued at more than US$21mln. This is an impressive figure as Japanese enterprises always have methodical investment and place their prestige on the top.
Accompanying local development
According to a report just released by provincial DoPI, the province lured additional US$1.53billion in FDI capital over the past nine months or 109.4% of the year’s plan. Of the total figure, US$116.3million came from 4 new projects and 9 existing ones from Japan.
FDI capital is seen as a very important resource for the local economic development. Over the past years, this amount of capital occupied more than 52.7% of the province’s total capital for social development. The FDI sector also accounted for more than 70% and 79% of the province’s industrial production value and export turnover, respectively.
Over the past time, province-based Japanese enterprises not only focused on hi-tech industries, but also accompanied the local urban, trade-service development with great projects. For example, the US$95mln-Aeon Mall Binh Duong Canary was inaugurated and put into operation in 2014. Sora Gardens I, the first project of Tokyu Binh Duong Garden City with a total investment capital of US$1.2billion also opened up a new trend for cooperation in terms of urban development, promoting traffic infrastructure systems in Binh Duong and neighboring localities
Binh Duong has also just given approval to a Bus Rapid Transit (BRT) project with the Japan International Cooperation Agency (JICA). The bus route is designed to begin at Binh Duong New City and end at Suoi Tien metro station. It facilitates the increased use of high-quality public transportation and promises a different urban image to Binh Duong in the future.
Mitsuhiro Mori, Chairman of the HCM city-based Japanese Business Association asserted that together with well-built infrastructure and open policies in FDI attraction, Binh Duong has opportunely helped enterprises remove their difficulties in production and business. Upon these things, Binh Duong will further be an attractive destination for Japanese investors, especially ones in hi-tech industries, services, urban development…
As planned, provincial People’s Committee organizes the 2016 dialogue with Japanese enterprises at Lucky Square Convention and Event Center in TDM city today, September 23. This will be a good chance for provincial leaders to opportunely help Japanese enterprises remove their difficulties in production and business for better development.
Reported by Khanh Vinh-Translated by K.T
