Province-based VSIPs aims at higher targets

Despites difficulties in 2013, Binh Duong-based Vietnam Singapore Industrial Parks (VSIPs) well completed its set targets in terms of FDI attraction, revenue, job creation…In 2014, they have continued setting higher targets. 

A glance of VSIP 2

According to province-based VSIPs Management Board, province-based VSIPs continued reaching good results in investment attraction in 2013. They in the first ten months of 2013 absorbed more than US$313mln in FDI capital. With the result, they have so far lured 385 valid investment projects, including 365 FDI projects with a total registered investment capital of US$4.77bln and 20 domestic ones with a total registered investment capital of VND3.834trillion.

The perfection of infrastructure continues being a decisive element for investment attraction. Many investors have also spoken highly of province-based VSIPs in many aspects. In 2013, Panasonic Ecosolutions Vietnam Co.Ltd. spent US$38mln on building its factory manufacturing electrical and electronic components in VSIP. Company director Takahashi Ogasawara said: “VSIP’s infrastructure facilities are built very modern and synchronous, which is suitable to investors. That’s reason why we decided to select the VSIP for investment”.

Till now, province-based VSIPs have absorbed 350 investment projects in operation and more than 10 others are now under construction. Most of them have worked very effectively and stably.

According to province-based VSIPs Management Board, the total revenue, export turnover and State budget payment of enterprises in province-based VSIPs in 2013 also got more stable compared to 2012. Particularly, their total revenue in 2013 reached US$4.8bln, up 6.67% compared to 2012. They paid US$65mln for State budget, up 1.56% against 2012; secured US$3.5bln in export turnover and US$3.3bln in import value. Noticeably, VSIPs’ trade surplus reached US$200mln.

Ly Hung, Head of province-based VSIPs Management Board said that VSIPs got most of the set targets in terms of total revenue, export turnover, State budget payment…This result came from the efforts by the VSIP Joint Venture Company in perfecting infrastructure together with a professional marketing staff. Province-based VSIP Management Board also helped enterprises to quickly deal with their difficulties in production and business.

Moreover, enterprises in province-based VSIPs overcame difficulties from the global economic crisis to recover their production and business activities while raising their investment capital for production expansion. The active support of authorities at all levels also greatly contributed to the VSIPs’ investment attraction.

Also in 2013, province-based VSIPs lured and offered jobs to 8,000 laborers, bringing the total number of laborers herein so far to 119,000.

Possibly speaking, achievements done by enterprises in province-based VSIPs in 2013, especially in FDI attraction was one of admirable things amidst common difficulties. This shows that province-based VSIPs are always attractive to investors.

For 2014’s plan, province-based VSIPs Management Board will strive to absorb US$300mln in FDI capital. Enterprises in the VSIPs will secure US$5bln; pay US$70mln for State budget; create new jobs for 5,000 laborers... Reportedly, there have been positive changes in all aspects after one-month implementation of this plan. With the result, it is believed that province-based VSIPs will further fulfill their set targets in 2014.