Since early this year, province-based Vietnam-Singapore Industrial Parks (VSIPs) have further drawn more FDI capital. This showed that they have continued being an ideal destination for investors.
FDI attraction on strong growth
The VSIP Management
Board said that since early this year, province-based VSIPs have further
reached a positive result in FDI attraction. They in the first half of the year
absorbed more than US$506.5mln in FDI capital, up 235% compared to the corresponding
period of last year and up 68% compared to the year’s plan. Particularly, there
were 13 new FDI projects with a total registered capital of more than US$66mln
and 18 extra-ones with more than US$440.4mln. 
Household electrical appliances being manufactured at Midea Consumer Electric Co.Ltd. that has just raised capital in 2014
Some newly-licensed FDI projects with great capital include the pharmaceutical products-making factory of Cyprus’s Medochemie Pharmaceutical Co.Ltd. with a total investment capital of more than US$16mln; the Japan-invested SANSHO Vietnam Co.Ltd.’s US$10mln factory specialized in manufacturing various car components and electrical equipment; the US$17mln-bonded warehouse of Belgium’s Melenbergnatie Vietnam Co.Ltd…
Thanks to enjoying a favorable investment climate plus effective business, many FDI projects also decided to raise their investment capital for production expansion. The Hongkong-invested Midea Consumer Electric Co.Ltd. increased its capital investment by US$41mln; the US-invested Kimberly Clark Vietnam Co.Ltd. by US$113mln; the Japan-invested Wonderful Saigon Electrics Co. by US$210mln…
According to the VSIP Management Board, the above result came from the Government’s preferential policies for newly-licensed FDI projects and extra-ones. Another thing was that province-based VSIPs were always ready for welcoming investors with a well-built infrastructure system. The inauguration of provincial Integrated Administration Center in Binh Duong New City on February 20, 2014 also showed the determination of Binh Duong’s government and people in building up a transparent and modern administration, contributing to absorbing more FDI capital over the past six months.
Pittas Konstantinos, Director of Medochemie Pharmaceutical Co.Ltd. said that after making a survey on Binh Duong’s investment climate, his company decided to sort out province-based VSIPs for investment because of having a good and modern infrastructure system plus the province’s high esteem with administrative reforms well done…
FDI capital flowing into hi-tech fields
Marjorie Yang, Chairwoman of the Japan-invested Esquel Corporation said that the corporation highly appreciated Binh Duong’s investment climate after its 14 year-operation herein. In the coming time, the corporation will continue selecting province-based VSIP I to develop its biggest factory with state-of-the-art technology to raise the value of garment and textile sector, bringing high income to laborers. With the central and local attention for investors, the corporation has felt secure and decided to make a long-term investment herein.
Ly Hung, Deputy Head of the VSIP Management Board said that the first half of 2014 was the period province-based VSIPs has reached the highest figure in investment attraction so far, thereby greatly contributing to helping the province take the lead in FDI attraction. Noticeably, the majority of the above FDI capital amount came from projects with production expansion from the world’s great corporations specialized in manufacturing hi-tech electronic components, household electrical appliances, pharmaceutical products and luxury consumer goods. This showed that Binh Duong has still continued being attractive to investors.
So far, province-based VSIPs have attracted more than 400 investment projects, including 380 FDI projects with a total registered capital of nearly US$5.3bln. As many as 348 investment projects in VSIPs are now operational with a total revenue in the first half of 2014 reaching US$2.7bln, up 8% compared to 2013’s same period or 54% of 2014’s plan.
Reported by Ve Giang-Translated by K.T
