Attractive to new investors
We can easily see that the industrial parks in Binh Duong province has a complete infrastructure, convenient traffic system and other favorable factors such as: large trained workforce, simplified administrative formalities… Until now, in 2,367 FDI projects with total capital of $20.3 billion, there are 1,361 projects invested in industrial parks with total capital of $12.2 billion, making up 57.5% of the projects and 60.1% of the investment capital.
When choosing to invest in an industrial park, FDI investors have to carefully survey and study before making decision. Medochemie Pharma Co., Ltd (the Republic of Cyprus) made an investment of $16 million, constructing a pharmaceutical products production plant in Viet Nam - Singapore II Industrial Park. Mr. Pittas Konstantinos, Regional Director of Medochemie Pharma Co., Ltd said “We surveyed the investment environment in many localities and we realized that Binh Duong province has an ideal one with modern and complete infrastructure, convenient traffic system and skilled workforce. In addition to the above-mentioned factors, the provincial authorities’ assistance helped simplify administrative formalities that greatly facilitated the investors. That was the reason why we decided to invest in the province”.
A newly-invested project that tops the list of provincial largest investment projects in 2014 is Viet Huong Investment and Development JSC (a joint-venture enterprise between Hong Kong’s Haputex Development Limited Group and Viet Huong Investment and Development JSC). The company invested on fabric manufacturing plant with total capital of $120 million in Viet Huong 2 Industrial Park. Mr. Marcus IP, Director General of Nam Phuong Textile Co., Ltd said after field work and survey, the group chose to invest in Binh Duong province because it has a very good infrastructure and big land fund that help the business quickly implement their projects. The industrial parks are linked with inland clearance depots, deep-water ports, airports… by many convenient roads thanks to a convenient traffic system that helps enterprises’ products easily penetrate the market.
Increasing investment capital
Investors’ satisfaction on Binh Duong industrial parks is also proved by expanded projects. They have to make careful survey and consideration before investment. Once the project is successful, they decide to make long-term investment by adding capital, expanding the project.
Ms. Marjorie Yang, Chairwoman of Esquel Group (Hong Kong) who has operated her project for more than 14 years in Viet Nam - Singapore I Industrial Park, said that apart from the convenience in terms of infrastructure, the enterprise also received considerable supports from the provincial government, facilitating enterprise’s operation. Thanks to the convenience and supports as well as stable business environment of Binh Duong province, Esquel Group decided to add $35 million capital more to construct the Group’s biggest plant in Binh Duong province.
KyungBang Viet Nam Co., Ltd, a member of KyungBang Group, Korea, majors in Textile and Garment when invest in Binh Duong province decided to add more capital in just a few months. Specifically in May 2013 the company put the $40 million fiber manufacturing plant into operation in Bau Bang Industrial Park (Bau Bang district). Nearly one year later, the company added $54.2 million capital more to expand cotton fiber production, serving Viet Nam textile and for export. Mr. Lee Kap Soo, Director General of KyungBang Viet Nam said that there are much potential in auxiliary industry for textile, the group chose Viet Nam for their new development period, chose to invest in industrial parks in Binh Duong province because they have good infrastructures that fit the company’s long-term development targets.
The capital flows poured into industrial parks, especially added-capital projects after effective operation, proves enterprises’ satisfaction, said by representatives of The Provincial Management Board of Industrial Parks.
Manufacturing drug and cosmetic products at Rohto-Mentholatum Viet Nam Co., Ltd, Viet Nam - Singapore Industrial Parks
Ms. WOBINE BÚI GLAUDEMANS, Burgomaster of Oss City (the Netherlands): Binh Duong province’s industrial parks have good infrastructure
During my working visit to Binh Duong province in 2014, I think that both the Netherlands and Vietnam in general and Oss City and Binh Duong province in specific hold long-term, sustainable investment potential. After field working and a working session with provincial leader, I was impressed by the infrastructures in industrial parks. It is very convenient for businesses of both parties to cooperate in many areas.
Mr. KIM GYONG TAE, Director General of Suntech Vina Company: Enterprises received considerable assistance from industrial parks’ investors.
We worked in favorable conditions while invested in My Phuoc 3 Industrial Parks. Apart from simplified administrative formalities, we also received considerable assistance from industrial parks’ investors. We constructed the plant in just four months after being awarded the investment certificate thanks to the supports from provincial authorities and industrial parks’ investors supports and care. After that, we decided to add more capital to expand the project.
Mr. SODDY HUANG, Chairman of Kingtec Group (Taiwan): Local industrial parks satisfy investors’ requirements.
In 2014, Kingtec Group signed a land rental contract to implement their project in My Phuoc 3 Industrial Park, producing electronic equipment such as LED lightings, desk lamps and hanging lamps… with total money in phase 1 of $30 million. After discovering the investment environment in Vietnam, and in Binh Duong province particularly, Kingtec decided to choose My Phuoc 3 Industrial Park to implement their projects. The industrial parks satisfied investors’ requirements on infrastructure and labor force… that are suitable for their long-term displacement to Viet Nam.
Trong Minh - Binh Duong Newspaper