In the current of FDI capital pouring into Binh Duong, Singapore is one of nations with the biggest investment capital in the province. Singaporean businesses’ investment fields are very plentiful from industrial infrastructure to service, industrial production, real estate and many more.
The provincial People’s Committee chairman Le Thanh Cung (right) grants
investment certificate to a rep of Bionmin Vietnam Company of Singapore.
Focusing on infrastructure and service development
VSIP is the very start of an investment wave of Singaporean enterprises into Binh Duong and Vietnam. Afterwards, many Singaporean businesses have paid attention to investment environment in Binh Duong and given priorities in developing big projects in the locality. The hi-tech industrial park invested by Singapore’s Mapletree Group is a typical example. Mapletree have invested in the US$400mil VSIP II on an area of 75ha.
Realizing Binh Duong’s great potentials in developing industrial infrastructure facility, Ascendas Group of Singapore in cooperation with Binh Duong Production – Import&Export Company (Protrade) has developed an AP Singapore Tech Park at An Tay commune, Ben Cat district. The 500ha, $150mil project will specialize in areas of food industry and beverage, energy, electronics, healthcare and pharmaceuticals. At present, the project has been basically completed and begun luring some investors from many nations.
After SembCorp, Mapletree and Ascendas, YCH Group in cooperation with Protrade aimed at building an YCH-Protrade logistics centre by late 2010. The 7ha, $14mil project has been under operation stably at Binh Hoa ward, Thuan An town.
Strengthening production and making breakthroughs of real estate
Singaporean businesses in Binh Duong have involved in many areas. Aside from industrial infrastructure and service projects, many projects of industrial production have been paid attention by Singaporean enterprises. They include Biomin Group spending $8mil in animal food production, United International Pharma Co.Ltd. investing $32mil in pharmaceuticals production, Glatz Vietnam Co.Ltd. involving in paper production and so on.
In terms of real estate field, GoucoLand real estate Company has invested $200mil in building The Canary urban area at Thuan An town on an area of 17.5ha. In addition, Kinderworld Group has invested in education in Binh Duong.
In 2013, enterprises from Singapore have kept choosing Binh Duong for their investments. Specifically, Rheem Vietnam Co.Ltd. has invested $10mil in producing household electric products, NTPM Vietnam Co.Ltd. has spent $19.7mil in manufacturing and outsourcing paper products. Apart from these new projects, numerous projects under stable and effective operation at Binh Duong have increased their capital sources to expand production and business.
Good will
Singaporean businesses’ strong investments in Binh Duong show that the province’s investment environment is highly valued by enterprises. Impressing on Binh Duong’s investment environment, Mrs. Low Sin Leng, chairwoman of Vietnam-Singapore IP Co.Ltd. said “I enjoy the provincial leaders’ solemn welcome and assistance during my working process in Vietnam. This helps VSIP develop gigantically. This is also SembCorp Industries Group’s most successful investment abroad project”.
The Canary urban area is invested by GuocoLand.
Most of Singaporean businesses desire a long investment in Binh Duong. Mapletree Group’s leaders said that Mapletree hi-tech project is to transfer technology and business process and modern management to Vietnamese people, contributing to socio-economic development of Vietnam in general and Binh Duong in particular. Once completed, the project will cater for companies involving in hi-tech software field and many more.
Binh Duong’s dynamic and advantaged investment environment is an attractive destination for Singaporean businesses in particular and foreign investors in general. The provincial People’s Committee chairman Le Thanh Cung affirmed “Binh Duong administration highly values Singaporean businesses’ investment into the province. Overall, Singaporean businesses have reached good operation and excelled Vietnam’s policies as well as paid much attention to social welfare for laborers and community. With responsible spirit, the provincial leaders have facilitated foreign investors’ production and business”.
Reported by V.Giang – Translated by A.C
