As of April 15, 2016, province-based Vietnam-Singapore Industrial Parks (VSIPs) absorbed 21 domestic projects with a total registered capital of more than VND3.88trillion and 450 foreign ones with a total registered capital of more than US$6.37billion.
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Employees working at VSIP 1-based Esquel Vietnam Co. in Thuan An town
FDI capital on rise
In Q1 2016 alone, province-based VSIPs attracted US$140mln in FDI capital, up 7.14% against last year’s corresponding period. Foreign-invested enterprises here also reached US$1.8billion in revenue, US$1billion in export value and paid US$16million for State budget, up 1.55%, 10% and 6.25% compared to last year’s corresponding period, respectively.
YukiTada, General Director of Uchiyama Vietnam Company said that the Japanese wholly-invested company was established in May 2000 at Thuan An town-based VSIP 1, specialized in manufacturing automotive gaskets and bearing seals. The company’s revenue last year surpassed the set target by 50%. Since early this year, the company has continued working stably. With its three factories operating at VSIP I under high technologies to increase productivity and minimize hazardous substances causing environmental pollution, the company has manufactured hi-quality products and exported them to foreign markets such as Japan, America and Europe… In mid April, the company also opened its fourth factory at TDM city-based Dai Dang Ip with a total investment capital of nearly US$40million.
Whilst, according to Marjorie Yang, CEO of Hongkong’s Esquel Corp., after its 15-year development, Esquel Vietnam Co. at VSIP 1 has operated very effectively and become a major partner of the world’s renown brands in the garment-textile sector. To meet clients’ needs, the company also built and put its second factory in operation at VSIP 2 by the end of 2015.
Production expansion
Since early this year, province-based VSIPs have lured nearly US$249million, including more than US$204million from 15 newly-licensed projects and nearly US$45million from extra-ones.
Among the newly-licensed projects, some with great capital include the Singaporean-invested Fovaline Global Trading Ple.Co.Ltd. with a total investment capital of US$88million at VSIP 2A; the Singaporean-invested Urcoffee Co.Ltd. with US$65.8million at VSIP 2A. Quang Ngai Sugar Joint Stock Co. also commenced construction of its third factory at VSIP 2 with a total investment capital of VND900million, equipped with the state-of-the-art production lines and designed capacity of 180 million liters per year. It is expected that the factory will be completed and put into operation in Nov.2016…
Since early this year, many enterprises at province-based VSIPs have also raised their investment capital for production expansion. For example, the Japanese-invested Makita Vietnam Co.Ltd. at VSIP 2 poured additional US$10million into production. Hansung Tech Co.Ltd. at VSIP 2A also raised its capital by US$5million…
With the above results, province-based VSIPs have not only contributed to the local economic development, but also asserted that they are still an attractive destination for investors.
Reported by P.Le-Translated by KT
