Absorbing projects
Thanks to the sound leadership of provincial Party Committee, People’s Committee and People’s Council, IPs in the northern region of the province have received great attention from investors. Particularly, after more than 12 years of operation, My Phuoc IPs 1, 2, 3 and 4 have attracted over 400 FDI projects with total investment capital of over US$3bln.
Taiwan’s Chinglong Corporation has just paid a visit to Ben Cat-based Singapore Asendas Protrade IP to seek investment opportunities. It is predicted that the corporation’s paper mill in Binh Duong will reach total investment of US$1bln after fulfilling its phases. In late Oct.2015, provincial People’s Committee also granted licenses to 38 FDI projects, many of them have poured investment into IPs in the northern region of the province. For example, Kraft Vina Co.Ltd. at My Phuoc 2 IP decided to increase capital by US$130mln, bringing its total capital to more than US$453mln. Or, Trung Thien Co., specialized in processing wooden products for export, also made investment valued at US$50mln in Thanh An industrial compound in Dau Tieng district…
Although just being set up for a short time, Bau Bang IP in Bang Bang district has quickly become an attractive destination for investors at home and abroad. The IP last year created a highlight in investment attraction when welcoming the 400-ha auxiliary industry project of Polytex Far Eastern Vietnam Co.Ltd. with total investment of US$274mln. Taiwan’s DDK Corporation also reached a vital agreement with Becamex IDC in hiring 80 hectares of land in the IP to set up a joint venture in Vietnam. The project will have total investment of US$250mln for infrastructure development, absorbing around 60 enterprises operating in the same field.
Many enterprises have made investment at IPs in the northern region of the province. In picture: Production of Bonfiglioli Vietnam Co.Ltd. at Ben Cat town-based My Phuoc 3 IP
Effective investment
IPs in the northern region of the province have rapidly attracted thousands of large-scale projects. Along with the great efforts by the province, this result has come from the effective investment of the IPs’investors. Therefore, the IPs have showed their capacity and role for investors after being set up.
In addition to Viet Huong 2 IP, many other IPs like Rach Bap, Mai Trung have been formed up with synchronous infrastructure, promising a good result in investment attraction. Singapore Ascendas Protrade is the most remarkable. After nearly two years of operation, the IP has lured a domestic investment project capitalized at VND46bln and 22 FDI projects in the fields of electronics, auxiliary industries with total investment of US$118mln.
Tran Thanh Liem, Vice-Chairman of provincial People’s Committee affirmed that the birth of IPs in Binh Duong in general and in the northern region of the locality in particular has helped the locality strongly draw investment projects, promote industrial development as planned and ensure harmonization between the local economic-social-environmental targets. In the coming time, the province will further mobilize all resources for industrial development; strengthen administrative reform; build technical infrastructure in a synchronous way, foster traffic system with the regional connection; give the best services for investors…
Reported by Khanh Vinh-Translated by K.T