In 2017, Vietnam-Singapore Industrial Parks (VSIPs) continued being a bright spot of Binh Duong in FDI attraction. Many big investors further poured their capital into VSIP for long-term development.
Absorbing great corporations
In 2017, province-based VSIPs continued luring more FDI projects, namely Japan’s TPR Corporation, Sweden’s Tetra Park Corporation, India’s Tata Coffee Limited…with more than US$928.4million, or 132.6% compared to 2016 and 265.24% against 2017’s plan. They have so far drawn 517 FDI projects with total registered capital of US$7.73billion.
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The groundbreaking ceremony of Tetra Park Binh Duong factory
Noticeably, in October 2017, Tetra Pak, the world's leading food processing and packaging solutions company broke ground on its new, state-of-the-art regional packaging material factory at VSIP II-A.
Built with an investment of US$110 million, the 100,000-squ.m facility will have an expandable capacity of 20 billion packs per annum and is expected to begin commercial operations by early 2019. The factory will produce a variety of packaging formats, including the popular Tetra Brik Aseptic and Tetra Fino Aseptic packages.
With a sustainable development strategy, the new factory is envisioned to be one of the greenest in the Tetra Pak system and will be one of the first factories in the country to apply the latest, most-demanding environmental standards.
Chris Kenneclly, President of Tetra Pak South Asia, East Asia & Oceania said that Vietnam is now attractive to the corporation and province-based VSIP is an ideal destination for it to pour investment capital into.
Creating favorable conditions for investors
In 2017, FDI capital implemented at province-based VSIPs was estimated at more than US$350.54million or 116.84% compared to 2016 and 116.84% against 2017’s plan. The total revenue of businesses at the VSIPs was estimated at US$7.59billion.
Representative of Nippon Chemiphar Vietnam Co.Ltd. said that Nihon Pharmaceutical Industry Corporation has spent nearly 60 years on manufacturing and trading pharmaceutical products in Japan. Nippon Chemiphar Vietnam Co.Ltd. is the corporation’s biggest foreign project with total investment capital of US$50million. Covering 10,522 square meters, the company can generate 550 million tablets per year; supply services on pharmaceutical research and development worth US$100,000 per year…
Nguyen Thanh Trung, Deputy Head of the VSIPs Management Board said that province-based VSIPs continued working stably last year, significantly contributing to the local common development.
With achievements done in 2017, the Management Board has set 2018’s major tasks, including further instructing companies to develop infrastructure of Ips; boosting investment marketing with focus on calling for projects from multinational corporations, hi-tech and auxiliary ones. The Management Board will also continue rechecking and grasping the capital increasing demand of projects being working, facilitating their production and business expansion.
Tran Thanh Liem, Chairman of provincial People’s Committee assessed that VSIPs are the important foundation for Binh Duong to absorb investment projects, helping it become one of the country’s localities with vigorous breakthrough steps and important achievements on the way of industrialization and industrialization. In the coming time, Binh Duong will further focus on improving the local investment climate, competitiveness and promoting administrative reform while promoting hi-quality services and strengthening human resources in order to perfect socio-economic infrastructure facilities. The province will also opportunely supply human resources for businesses, contributing to reinforcing the position of Vietnam in general and develop Binh Duong in particular into a prosperous and sustainable investment center in the region.
In addition, the province will continue supporting and creating favorable conditions for VSIP Joint Venture Co.Ltd. to work effectively and become a nice symbol for friendship and solidarity between Vietnam and Singapore. Mr.Liem stressed that over the past time, projects at province-based VSIPs were in line with the province’s investment orientation. Provincial leaders also created advantageous conditions for them to work effectively…
Reported by Phuong Le-Translated by K.T
