In particular, on November 03, LEGO Group (Denmark) will hold a Groundbreaking ceremony for a manufacturing worth more than 1 billion USD in Vietnam - Singapore III Industrial Park, affirming that Binh Duong continues to be the attractive destination for investors.
Foreign direct investment attraction ranks second in the country
According to the report of Binh Duong Provincial People's Committee (PPC), in the first 10 months of 2022, Binh Duong has attracted 2 billion 738 million USD in foreign direct investment (FDI) capital, up 57% over the same period, with 58 new investment projects (1 billion 869 million USD), 18 adjusted capital increase projects (20 million USD) and 138 capital contribution projects (849 million USD).
Foreign investors have invested in 06 industries and fields, in which the processing and manufacturing industry continues to attract much attention from foreign investors with a total investment capital of 1.66 billion USD, accounting for 63.5% of the total registered investment capital. Real estate business ranked second with a total capital of 939.03 million USD, accounting for 35.82% of total registered investment capital. Followed by wholesale and retail fields; repairing cars, motorcycles and motorbikes; administrative activities and support services; professional activities, science and technology and production and distribution of electricity, gas, water, air conditioning, etc. Denmark ranked first with total investment capital of 1.32 billion USD, accounting for 50.4% of total registered investment capital; the Netherlands ranked second with total investment capital of 609.6 million USD, accounting for 23.3% of total investment capital; China ranked third with total investment capital of 258.6 million USD, accounting for 9.9% of total investment capital. Followed by Japan, Hong Kong, Taiwan, Korea, Singapore, Seychelles, the United States, etc.
Binh Duong's foreign direct investment attraction ranks second in the country after Ho Chi Minh City
Accumulated up to now, Binh Duong ranks second in the country (after Ho Chi Minh City) in FDI attraction with 4,053 projects granted valid investment registration certificates with a total registered investment capital of more than 39, 6 billion USD, accounting for more than 9.3% of the total FDI capital of the country. The average project size is about 9.8 million USD. There are 65 countries and territories registered to invest in Binh Duong. Of which 10 countries and territories are Japan, Taiwan, Singapore, Samoa, Korea, B.V.I, Hong Kong, Cayman Islands, China and Denmark with a total registered investment capital of more than 32.5 billion USD, accounting for more than 82.1% of the total investment capital of the province. Taiwan ranked first with 859 projects with a total registered capital of more than 6.27 billion USD, accounting for 26% of the number of projects and 19% of the capital. Japan ranked second with 333 projects, total registered capital of 5.86 billion USD, accounting for 10% of the number of projects and 18% of the capital. Singapore ranked third with 277 projects with a total registered capital of 5.4 billion USD, accounting for 8% of the number of projects and 17% of the capital.
Prime Minister Pham Minh Chinh and leaders of Binh Duong province take a souvenir photo with investors at the Granting Investment Registation Certificates Ceremony for LEGO Group and other enterprises
Creating all conditions for enterprises to produce and do business effectively
In order to achieve outstanding results in FDI attraction, over the years, Binh Duong has continuously improved the investment environment, especially synchronous investment in infrastructure system, administrative reform to serve investors. The settlement of administrative procedures is fast and efficient in the fields of business registration, investment registration, land, construction, tax, customs, the settlement of disputes, judgment enforcement and procedures related to dissolution, bankruptcy, etc., are of special interest to the province. In particular, the PPC asked to strengthen the responsibility of the head, promote the propaganda of administrative reform through the mass media. Building a team of friendly, responsible and dedicated civil servants to serve people and enterprises in the most professional, fast and efficient manner. Along with that, implementing the Binh Duong Smart City Project associated with the construction of an Innovation Region in order to create an attractive destination for investors with high science and technology qualifications towards the goal of sustainable development. For many years in a row, Binh Duong has been evaluated as the locality with the highest index of infrastructure and the pioneering and dynamism of the government in the country. This is a very good condition for Binh Duong to attract investment.
In more than 4,000 FDI projects invested in Binh Duong up to now, the big project with a total investment capital of more than 1 billion USD must include the project of Tokyu Corporation of Japan (1.2 billion USD) and LEGO Group of Denmark (more than 1 billion USD).
Implemented since 2012, Tokyu Urban Area Project in Binh Duong New City of Tokyu Corporation has a total investment capital of 1.2 billion USD, including: Trade, service, housing and entertainment centers; Sora Garden 1 and 2 apartment buildings; The View apartment building; Hakura housing area; Hikari commercial area; Viet Hoa International School, etc. and key traffic projects connecting Binh Duong with other provinces and cities.
Assessing the investment environment of Binh Duong, Mr. Hoshino Toshiyuki – Permanent member of the Board of Directors of Tokyu Corporation said that Binh Duong provincial government has always paid attention and created favorable conditions for Tokyu Corporation and Becamex Tokyu Co., Ltd. to stabilize production and invest effectively during the past time, especially during the complicated developments of the Covid-19 pandemic. He hoped that the provincial government would continue to pay attention to and create favorable conditions for the Corporation's investment activities and would consider this as an encouragement and motivation to continue to develop further, making a positive contribution to the construction of an increasingly rich and beautiful province.
Secretary of the Provincial Party Committee Nguyen Van Loi discusses with leaders of Lego Vietnam Co., Ltd. at the inspection of the leveling situation to hand over to LEGO Group for construction of a factory in Vietnam - Singapore III Industrial Park
As for the construction project of a toy factory of the LEGO Group, Denmark, determined that this is a very important project, so the province has directed departments, branches and localities to focus all resources to speed up the progress of granting Investment certificate, site clearance and leveling to hand over to LEGO Group for construction of the factory according to the signed schedule. On March 19, 2022, at the Groundbreaking ceremony of VSIP III, Binh Duong PPC granted the Investment Certificate to LEGO Group. At the same time, the leaders of Binh Duong province went to survey the leveling progress to hand over to LEGO Group, the two sides also held meetings to promptly remove difficulties and obstacles, creating all conditions for LEGO to implement the project according to the committed schedule. Provincial leaders also surveyed the progress of upgrading and expanding DT.746 road, the section from Tan Thanh junction to Hoi Nghia junction in Bac Tan Uyen district to create favorable conditions for the circulation of goods as well as production and business of the factory.
At meetings with leaders of Binh Duong province, Mr. Preben Enef - General Director of Lego Vietnam Technology Co., Ltd. expressed his delight at the active support of leaders of Binh Duong province, branches, levels and localities during the past time for LEGO to implement the project and the signed works were carried out on schedule and met the set requirements. At the same time, he expressed his excitement when the LEGO Group ground-breaks the project according to the original plan. He was very confident that the project will be successfully implemented in Binh Duong and put into operation in mid-2024 as planned.
Secretary of the Provincial Party Committee Nguyen Van Loi (right cover) and leaders of departments and branches visit MotoMotion Company (My Phuoc 3 Industrial Park) during the Covid-19 outbreak in Binh Duong
Not only that, many other investors from 65 countries and territories currently investing in Binh Duong also share good comments about Binh Duong. At meetings with leaders of Binh Duong province, representatives of the Korean Chamber of Commerce and Industry in Binh Duong (KOCHAM Binh Duong) and the European Chamber of Commerce in Vietnam highly appreciated the development recovery of Binh Duong after the Covid-19 pandemic as the province continues to be an attractive destination for investors, the efforts of the provincial government have given the domestic and foreign enterprise community strong confidence to recover and develop. "In the past 3 years, the Covid-19 pandemic has caused all Korean enterprises in Binh Duong to face many difficulties and challenges. Fortunately, up to now, the business of enterprises is gradually returning to the "new normal". Up to this point, most enterprises and investors have stably resumed production and business. Many enterprises increase investment capital, attract workers, and expand production scale to offset difficulties and damages after the pandemic," said Kim Won Sik, Chairman of KOCHAM Binh Duong.
He also expressed his pleasure when investment enterprises in Binh Duong develop very well and strongly. According to him, two important issues for enterprises to choose to invest in Binh Duong are transparency and effective enterprise support activities.
Chairman of the PPC Vo Van Minh (3rd from the right) talks with leaders of Warburg Pincus Corporation (USA)
Thanking investors for choosing Binh Duong as an investment destination and expanding production and business, Chairman of the PPC Vo Van Minh affirmed: "Binh Duong always respects and considers the success of investors as the success of Binh Duong. The provincial government will always stand by and accompany enterprises throughout the investment process in Binh Duong. To create favorable conditions for investors, Binh Duong is speeding up the construction progress of transport infrastructure connecting the region such as Ring Road 3, Ring Road 4, Ho Chi Minh City - Thu Dau Mot - Chon Thanh Expressway, developing logistics, building Binh Duong Smart City, Innovation Region, especially building Science and Technology Industrial Park to attract investors in the high-tech field in the coming time".
With the efforts of the Binh Duong provincial government during the past time, especially the results achieved in the Covid-19 prevention and control and what Binh Duong is and will promote the results achieved, it is believed that Binh Duong will always be an attractive destination for all foreign investors.
Reported by Mai Xuan- Translated by Thanh Tam