Provincial People’s Committee, on August 27, held a ceremony to grant investment licenses to 25 foreign direct investment (FDI) and domestic projects with total investment capital of more than US$219mln. Of these, there are 10 newly-licensed projects with total registered capital of more than US$105.7mln and 15 extra-ones with more than US$113.3mln.
FDI attraction plan fulfilled
Among the above projects, there are 3 domestic projects and 22 FDI ones with total newly-registered and increased capital of more than US$211mln. With the figures, the province since early this year has absorbed 88 new FDI projects and 88 extra-ones with aggregate capital of more than US$1bln. This has brought the total number of FDI projects flowing into the province so far to 2,174 capitalized at nearly US$18.5bln. Regarding the province’s investment attraction in August 2013, provincial People’s Committee Chairman Le Thanh Cung said that with more than US$1bln in FDI capital, the province has fulfilled its 2013 plan on FDI attraction.
Car components being produced at a foreign-invested
enterprise in the Bau
Bang Industrial
Park At the investment incense-granting stage, most FDI projects
focus on production and business scopes. There are 12 Japanese-invested
projects with total investment capital of US$117.4mln; 2 U.S-invested projects
capitalized at nearly US$40mln; 2 Taiwanese-invested projects with US$21mln; 2
South Korean-invested projects totalling more than US$14mln and 4 projects from
British West, Samoa, Singapore
and Holland.
Apart from the Japanese-invested projects, the project of the US-invested Amway Vietnam Co.Ltd. has been ranked second among the newly-incensed projects in the capital amount. Being built in the VSIP II A, the project is specialized in manufacture of consumption goods (including functional food) with total investment capital of US$21.4mln. How Kam Choing, General Director of Amway Vietnam Co.Ltd. has spoken highly of Binh Duong’s investment climate and saying that Vietnam’s market was very potential and effective for his company’s investment field.
FDI capital from Japanese businesses on sharp rise
Among the newly-licensed projects, 12 projects are invested by Japanese businesses or 50% of total, showing that FDI capital from Japanese businesses has continued sharply flowing into Binh Duong. Of these, there are 4 newly-licensed projects, including those of Vietnam Nagashima Co.Ltd. in the An Tay Industrial Park; Washin Aluminum Vietnam Co.Ltd. and Nanshin Seiki Co.Ltd. in the My Phuoc 3 Industrial Park.
The largest project licensed from Japan is the paper packaging plant of Japan’s Tomuku company valued at US$47.6 mln to be built on an area of 6 hectares in the My Phuoc 3 Industrial Park with the annual capacity of 60mln sq.m. According to company General Director, the company commenced construction of its factory and is expected for completion in October 2014. This is also the company’s first ever overseas factory.
There are also 8 capital-increased projects from Japan with additional capital of nearly US$51mln. For example, Takigawa Co.Ltd. has increased its capital by US$7.8mln for producing plastic bags and films. GS Battery Vietnam Co.Ltd. has decided to spend an additional US$8mln on improving its capacity of hi-quality batteries in the VSIP I while Uchiyama Vietnam Co.Ltd. has poured additional US$5mln into production of electronic circuits and equipment for communications in the VSIP I…
Noticeably, the Japanese-invested project with the largest additional capital is Forte Grow Medical Vietnam Co.Ltd. with US$12mln. The capital increase aims to help the company raise its capacity of manufacturing medical equipment at clients’ demand. Prior to that, the company spent US$9.5mln on its production and business activities in the VSIP I.
The FDI capital flow into the province has continued sharply rise, which is seen as a positive sign. This also shows that Binh Duong is still an attractive destination for foreign investors. Katsumi Kobayashi, General Director of Forte Grow Medical Vietnam Co.Ltd. said: “We have spoken highly of Binh Duong’s investment climate that is very favorable for businesses to effectively work. In addition to well-built infrastructure, provincial leaders’ attention has created faith more with businesses for investment”.
Reported by T.Minh-Translated by K.T
