Mr. Tran Van Nam, Deputy Secretary of the Provincial Party Committee, Chairman of Binh Duong Provincial People’s Committee, Mr. Tran Thanh Liem, Standing Deputy Chairman of Binh Duong Provincial People’s Committee, leaders of provincial departments and Bau Bang district and representatives of Taiwanese Business Association in Binh Duong province and Taipei Economic and Cultural Office in Ho Chi Minh City attended the ceremony.
At the ceremony, Chairman Tran Van Nam awarded the investment certificate forrepresentative of the company. The company will construct a 99-hectares plant, producing polyester fiber (filament, cotton, synthetic fiber) in Bau Bang Industrial Park, total investment capital in phase 1 was US$ 274 million.
Mr. Humphrey C.Y.Cheng - Chairman of the group said that they chose Bau Bang Industrial Park in Binh Duong province to deploy their project because of well-invested infrastructure as well as the current investment of the province on healthcare and education, making it convenient for the company’s development. He appreciated the province’s investment environment, especially rapid investment certificate issuance procedure. As Viet Nam joins the Trans-Pacific Partnership, investors will be much benefited. He also thanked provincial leaders for facilitating the projects.
Speaking at the ceremony, Chairman Nam welcomed the company’s project. He believed that the project will be brilliantly successful thanks to the company’s high determination and facilitation from the provincial leaders. He also promised to continuously improve the investment environment. The project will make contribution to the province’s socio-economic development in the future.
According to a report released by the Provincial People’s Committee, in the first half of 2015, total foreign direct investment reached US$ 1.013 billion in which there are 102 new projects and 600 projects that added capital with total capital of US$713 million and US$300 million respectively. Until now, the whole province has 2490 projects with total capital of US$21.4 billion.
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Far Eastern Group is the leading company in Taiwan with 9 subsidiary companies posted up on the national Stock Exchange. The group specializes in knitting, retail, transportation, construction, hospitality, financial services and communication with total assets of over US$88 billion. The company produces PET plastic, polyester fiber and others. The plant in Binh Duong is the third biggest plant after the ones in China and Taiwan.
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Reported by Mai Xuan-Translated by D.Xuan