Binh Duong Leading FDI Attraction

Located in the southern key economic region, with a convenient transportation system; synchronous infrastructure; abundant and qualified human resources; quick investment procedures; and appropriate policy development in the right direction, Binh Duong has been attractive to investors, especially those from Japan.

 

In the first nine months of 2012, Binh Duong led the country in attracting foreign direct investment (FDI). Specifically, so far this year, Binh Duong has attracted US$2.16 billion of newly registered and increased capital, accounting for more than 22.7 percent of the country’s total FDI.

 

Binh Duong gained 3^rd position in attracting foreign investment in the first two months of 2012, and one month later it managed to become the number 1 and held this position consecutively for the first nine months of 2012. Achieving these results is really a good sign, especially in the context of the difficult economy, investors still hesitating in their investment decisions; besides, attracting FDI currently faces fierce competition not only between provinces but also with other countries in the region.

FDI projects in Binh Duong include TokyuBinh Duong urban project (Tokyo Binh Duong Garden City) of Tokyu group - Japan (US$1.2 billion); project of Dai Nippon Printing (DNP) US$35 million; project of BIOMIN Vietnam Co.,Ltd. US$8 million; and project of Hoa Net Wood Co., Ltd. with an investment capital of US$5.2 million. The most prominent of which is the project Tokyo Binh Duong Garden City started in early March 2012 in Binh Duong new city centre with nearly 71.5 hectares including 7,500 apartments, housing, the recreational and commercial facilities, and office, etc. This project is innovative in the field of real estate and is the largest urban area project with biggest most amount of capital.

 

With attracting investment results as above, Binh Duong has basically completed the goal of attracting more than US$1 billion in FDI in 2012. This again shows that with the integrated competitive advantage and clear attracting investment policy, Binh Duong is becoming the ideal destination, preferred by foreign investors. Last time, in order to attract FDI, in addition to the implementation of social welfare policies, training high-quality human resources, urban development in harmony with the environment, Binh Duong province constructed the system of industrial infrastructure in sync with 28 IPs basically planned from infrastructure to convenient transportation connection; including many IPs assessed international standards and leading in the country such as IP Vietnam - Singapore, and My Phuoc Industrial Parks ... Major industrial parks are modernly and comprehensively planned, appropriate to facilitate the effective FDI promotion in investment. In addition to complete objectives in 2011-2015 period, Binh Duong also focuses on promoting infrastructure development and the completion of identifiable traffic points such as: My Phuoc- Tan Van road extended to Bau Bang, belt road 3 and 4, Saigon River side road, and the application of information technology to the management of resources ... As a result, the province's infrastructure system is highly assessed and creates many advantages, utility and cost savings for investors.

 

In parallel with the efforts to create a truly attractive investment environment, recently, Binh Duong province has always concentrated on promoting the marketing and promotion of investment, and focus on potential markets such as Japan, Korea, and Singapore ... In particular, Binh Duong is becoming the investment destination of Japanese firms with the large number of projects as well as the overwhelming amount of capital, mainly in the field of trade and services. This is an important success which helps Binh Duong gradually achieve the goal of increasing both quantity and quality in attracting local investment.

 

Mr Toshiaki Koshimura, President of Tokyu Corporation - investor of projects with biggest amount of capital in Binh Duong, said: "As an investor, we don’t hesitate to come to any places with good investment environment, and potential long-term development conditions. Binh Duong has an annual GDP growth up to 14-15 percent, far exceeding the national average growth rate of the country and located in the southern key economic region. Through the survey, we have seen the attractiveness of the investment environment in Binh Duong as well as the potential of the new city, so, Tokyu Group has decided to invest in Binh Duong." Similarly, Sun Steel Corporation engaged in producing steel and alloys... in Di An also has decided to increase its capital by US$120 million in 2012. Sharing about this bold decision, especially in the context of the economy forecast to be more difficult, CEO Wada Yuji said: "Despite the challenges of the past and the complicated world economic situation in the future, the enthusiasm and interest, positive investor support from leaders of Binh Duong has helped strengthen faith and affirmed our determination to expand investment to increase production capacity. We can confirm that promising investment environment of Binh Duong in the future is bright and we are very confident."