Strengthening investment
According to the latest figure released by the Consulate General of Japan in HCM city, Binh Duong has ranked the second in attracting FDI capital from Japan after Thanh Hoa. This has reflected Binh Duong’s investment attraction capacity in recent years. Yamamoto Kazuhito, Head of the Industrial Group 3 under the Consulate General of Japan in HCM city said that there was a constant increase in the FDI capital flow from Japan to Binh Duong over the past years. So far, according to the statistics by the group, Binh Duong has lured 144 Japanese-invested projects. This has helped the province lead the nation in the number of projects from Japan.
There has been an increase in both quantity and quality for Japanese-invested projects in Binh Duong in recent years. Among the 2,576 FDI projects in the province with total registered capital of more than US$22bln, there are 236 Japanese-invested projects capitalized more than U$5bln, accounting for 9.2% in the number of FDI projects and nearly 23% in the amount of FDI capital in the province. In general, Japanese-invested projects have applied modern technologies with stable production, contributing to generating jobs for thousands of the local laborers.
According to provincial Department of Planning and Investment, each project from Japan is valued at more than US$21mln, the highest figure among countries and territories pouring investment into Binh Duong at present. Thus, Japanese investors now rank first in the total amount of capital as well as capital of each project among foreign investors in Binh Duong. All showed that the efforts by Binh Duong in investment attraction have brought the locality positive results.
Noticeably, there is a diversification of Japanese enterprises’ investment scopes, ranging from electronics, steel production, food processing to auxiliary industry…Many Japanese-invested projects with great capital include Maruchi Sun Steel Co.Ltd. capitalized at US$420mln, Wonderful Saigon Electrics Co.Ltd. with US$240mln, Maruzen Foods Vietnam Co.Ltd. with over US$100mln…
Not only making investment in industrial manufacture, Japanese businesses have recently also got involved in trade-services in Binh Duong. In picture: Customers at Aeon Mall Binh Duong Canary invested by Japan’s Aeon Group
Affirming prestige in investment climate
Before Binh Duong’s attractive investment climate plus Binh Duong new city’s potentials, Japan’s Tokyu Group decided to make investment in the locality. Early Mar.2012, the Tokyu Binh Duong Garden City project, a joint venture between Becamex IDC and Tokyu Group in Binh Duong New City was officially started for construction in Binh Duong new city. Covering more than 110 hectares, the project includes around 7,500 apartments, houses; recreational facilities, offices…This is also the province’s biggest FDI project with total investment capital of US$1.2bln.
Among the Japanese-invested projects in the province, the US$95mln-Aeon Mall Binh Duong Canary invested by Aeon, the biggest retailer in Asia, which was inaugurated and put into operation in 2014, is also very impressive. It has so far become an ideal place for shopping and recreation of people in Binh Duong and other neighboring localities with total revenue beyond the expected level.
Many Japanese-invested projects in the province have also decided to raise their investment capital for production expansion. For example, Sun Steel Joint Stock Co. increased its total investment capital to US$420 million. GS Battery Co. also raised its total investment by US$9mln…
Obviously, with advantageous conditions, Binh Duong has become an attractive destination for Japanese investors. The selection of Japanese investors in making investment in Binh Duong has showed the prestige of the province among the Japanese business community.
Hence, according to experts, the FDI capital flow from Japan to Binh Duong will continue increasing in the coming time. This will be also an important element, contributing to the local development.
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In July 2013, Vietnam’s industrialization strategy in the framework of Viet Nam-Japan cooperation through 2020 with a vision to 2030 was approved. Under the strategy, there are 6 prioritized sectors, including electronics, agricultural machine, agricultural – seafood processing, shipbuilding, environment and energy saving, automobile manufacture and automobile parts. Whilst, in 2015, Japan pledged to further advocate Vietnam to implement the strategy, support Vietnam in human resource development, brace up Japanese businesses to participate in the Vietnam-Japan University project…
Japanese businesses have so far poured investment capital into 49 provinces and cities nationwide. Thanh Hoa has led the country in attracting Japanese-invested projects, followed by Binh Duong with 236 projects having total registered capital of more than US$5bln.
As being appreciated, Japanese businesses play a vital role in the process of developing auxiliary industries in Vietnam
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Reported by Khanh Vinh, H.H-Translated by K.T