Attending the event were also Japanese Consulate General to HCM city Mr. Satomi Nakjima together with representative of the HCM city-based Japanese Business Association.
Turning towards an effective investment climate
Binh Duong is one of Vietnam’s flexible localities in economic development and foreign investment attraction
At the meeting, Mr. Nguyen Thanh Truc, Director of provincial Department of Planning and Investment (DoPI), emphasized, promoting favorable geography position as the trade gateway between the Central Highlands, the Central and Ho Chi Minh City with arterial roads running through the country, Binh Duong has always seen FDI capital as a driving force for the local socio-economic development. Provincial leaders are also very flexible in dealing with businesses’ difficulties and have well applied central regulations on investment attraction. There is also a synchronous socio-economic infrastructure system in association with urban development together with administrative reform well realized…
Over the past time, Binh Duong reached many big results in building and developing industrial parks at the local demand for investment attraction. The whole province is now home to 28 industrial parks with total area of 9,423 hectares and land tenancy ratio of 65%. Till 2015, the province will develop 35 industrial parks with more than 13,919 hectares in total.
Binh Duong has till now absorbed businesses from 40 countries and territories. Among them, Japanese businesses now take the lead in investment capital with US$4.87bln. This shows that the province’s favorable and flexible investment climate is an attractive element to foreign investors, especially Japanese ones.
Assessing the investment environment of Binh Duong, Mr. Tsutomu Sakagami, Chairman of the HCM city-based Japanese Business Association said that Binh Duong is among the southern region’s 4 localities absorbing a large amount of investment capital from Japanese investors. Possibly speaking, this is a locality with good investment climate. With policies underway, Binh Duong has made laborers feel secure when living and working herein.
Whilst, Nakata Yasuya Ki, General Director of Becamex Tokyu Co.Ltd. said: “FDI capital flows into Binh Duong have continued getting a sharp increase. This has come from the province’s sound policies. We - as Japanese investors and other foreign companies - assess that the investment environment in Binh Duong province is very good. Becamex Tokyu has established projects, like: Project Sora Gardens - high-rise apartment, Hikari project with restaurants and shopping center in Binh Duong New City, opening bus routes connecting TDM City with Binh Duong New City. These results came from the support and assistance of Binh Duong leadership and our partners - Becamex IDC. In the coming time, we will further join hands with the province to work out many other projects, contributing to promoting Binh Duong new city”.
Binh Duong focuses on removing businesses’ queries
At the meeting, representatives of Japanese businesses said that they have faced difficulties regarding online tax declaration, product registration, implementation of the 2014 Law on Enterprises, policies on tax, social insurance, unemployment insurance… DNP Company’s representative said, the company was not updated timely on electronic tax payment, Rohto Company had some problems with electronic tax declaration, business registration license, the implementation of the Enterprise Law 2014.
Mr. Le Van Trang, Head of provincial Tax Department stated that his department would recheck a list of tax payers in the province in order to immediately send information about online tax declaration to them. The Department would also organize a dialogue on tax policies with businesses by the end of July, contributing to facilitating their production and business operations”.
Also according to him, electronic tax payment is a policy of the Vietnamese government. And this is implemented in most developed countries. The goal of electronic tax payment is to facilitate businesses’ tax payment process. As stipulated, all businesses operating in Vietnam must implement electronic tax payment and declaration by the end of September 2015.
Businesses’ questions on social insurance, unemployment…also received satisfactory answers from the local functional agencies at the meeting.
Addressing the meeting, Mr.Nam acknowledged contributive ideas by businesses while suggesting relevant sectors to give answers in concrete text for some questions that are under their competence, but have not been answered at the meeting yet. For questions without the local competence, the province would collect them and then submit them to relevant ministries and sectors for consideration and solution.
Mr.Nam said that Japanese businesses operating in Binh Duong have well obeyed Vietnam’s legal regulations, taken good care of laborers’ lives and actively got involved in social charity activities, contributing to promoting the local socio-economic development. He also hoped that the HCM city-based Japanese Business Association would continue acting as a bridge between the local administration and Japanese businesses…“Binh Duong has always accompanied businesses and created best conditions for them to effectively work”, he affirmed.
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"Mr. Satomi NAKJIMA, Consulate General of Japan in Ho Chi Minh City said, the relationship between Vietnam - Japan is in a good stage. Currently, more than 200 Japanese companies are investing in Binh Duong. Binh Duong have an attractive investment environment. In the future, other businesses in Japan will invest in Binh Duong”.
At the present, Japanese companies have invested in 49/63 provinces and cities nationwide. Particularly, Binh Duong is in the 2nd position of attracting Japanese investors with 231 projects and a total investment of $4.86 billion.
In the first 6 months of 2015, Japanese companies have invested 8 new projects with a total capital of $82.2 million; and 11 projects were added more capital with $28.6 million.
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Reported by P.Le, H.H – Translated by K.T.