Attractive destination for Japanese enterprises
According to statistics, there are currently about 340 Japanese enterprises investing in Binh Duong with a total investment capital of more than 5.8 billion USD; Japan currently ranks second among 65 countries and territories with foreign direct investment in Binh Duong. The main investment fields are the production of electronic components, electronic circuits and chips, automobile assembly, iron and steel, supporting industries and commercial services, etc. According to records, most Japanese companies and transnational corporations have investment projects in Binh Duong. For example: Panasonic Corporation, Toshiba Corporation, Foster Electric Corp., Tokyu Corporation, Fujikura Company, Aeon Mall Viet Nam Co., Ltd, etc. Recently, Japanese investors are continuing to pour capital heavily into infrastructure development, urban areas, trade and services, etc. These projects have been contributing to promoting the socio-economic development of Binh Duong.
Along with the wave of new Japanese enterprises investing in Binh Duong province, many Japanese enterprises operating in industrial parks in the province have increased capital to expand production and business. This shows that investors from Japan feel secure and confident when investing in production and business in Binh Duong, and is also proof of their effective operations.
Japan currently ranks second among 65 countries and territories with foreign direct investment in Binh Duong. Photo: Workers of Takako Co., Ltd. (VSIP I Industrial Park) operate the production line
Looking for reasons to attract increasing investment from Japan to Binh Duong, reporters from the Provincial Portal contacted and listened to comments and assessments from insiders.
Mr. Mizushima Kozo - Chairman of the Japanese Chamber of Commerce and Industry (JCCH) assessed that thanks to the constantly improving business investment environment, Binh Duong is considered the top choice for Japanese enterprises when looking for investment opportunities in Viet Nam. At the same time, Japanese enterprises investing and doing business in Binh Duong always receive the attention of local leaders and the creation of the best conditions for development.
Leaders of Binh Duong province visit and work with Takako Viet Nam Co., Ltd
Mr. Takahashi Kazuo - General Director of Tokyu Corporation said that Tokyu Corporation is currently one of Japan's largest and oldest economic corporations, operating in many fields such as railways, transportation, retail systems, culture, education, etc.; among them, the most prominent is the field of urban development. The establishment of Becamex Tokyu Co., Ltd. (BECAMEX TOKYU) in March 2012 - a joint venture between Tokyu Corporation and Becamex IDC Corp affirms Tokyu Corporation's confidence in Binh Duong's investment environment. Accordingly, the Tokyu Urban Area project of Becamex Tokyu Co., Ltd. has a total registered investment capital of 1.2 billion USD, developing and trading real estate including commercial centers, services, housing, entertainment services, etc. at the Binh Duong Industrial, Service and Urban Complex with projects that have completed investment in construction works such as: Sora Gardens 1 & 2 Apartments; The View Apartment; Hakura Residential Area; Hikari commercial area (phase 1), etc. is working effectively in Binh Duong. In 2023, the Corporation will build and inaugurate the Sora Gardens Shopping Center project; Hikari commercial area (phase 2); Sora Gardens 3 Apartment; Sora Gardens Park, etc.
Tokyu Corporation develops Sora Gardens Apartment system in Binh Duong New City
According to the Department of Planning and Investment, on average each project of Japanese enterprises investing in Binh Duong has capital of over 20 million USD. This is the highest average number among countries investing in Binh Duong today. This shows that efforts in improving the investment environment, completing infrastructure upgrades, promoting administrative procedure reform, etc. of Binh Duong province have brought positive results.
Cooperation is increasingly deepening
Over the past years, the cooperative relationship between Binh Duong province and Japanese localities has continuously developed strongly, extensively and effectively. Among them is the friendly cooperation between Binh Duong province and Yamaguchi prefecture in December 2014. Implementing the Memorandum of Cooperation, leaders of Binh Duong province and Yamaguchi prefecture organized delegations to visit and work in the two localities. High-level working visits and meetings have deepened the cooperative relationship between Binh Duong province and Japanese partners. Binh Duong province's leaders welcomed and worked with many Japanese working groups and investment promotion organizations to survey and find investment cooperation opportunities.
Binh Duong province and Yamaguchi prefecture sign a memorandum of cooperation
Typically, in November 2022, the Yamaguchi prefecture's high-level leader delegation led by Mr. Muraoka Tsugumasa - Governor of Yamaguchi prefecture visited and worked in Binh Duong province. During the meeting and working session with leaders of Binh Duong province, the Governor of Yamaguchi prefecture said that since establishing friendly cooperative relations in 2014, Binh Duong province and Yamaguchi prefecture have actively implemented high-level delegation exchange activities; coordinated to organize investment promotion conferences and seminars to attract investment to Binh Duong province; implemented many cooperation programs in the fields of education, health, sports and many other exchange activities, etc. Thereby, positively contributing to the socio-economic development process of the two localities; contributing to tightening the friendly relationship between Viet Nam and Japan in general, Binh Duong province and Yamaguchi prefecture in particular. Although in the context of the complicated Covid-19 pandemic, the two localities still maintain cooperative relationships online, trying to help each other overcome the pandemic.
Yamaguchi prefecture's high-level leader delegation led by Mr. Muraoka Tsugumasa - Governor of Yamaguchi prefecture visits and works in Binh Duong province
At the same time, Binh Duong also organized a high-level delegation to deploy investment promotion activities in Yamaguchi prefecture and Ishikawa prefecture, connect investment with the Japan International Cooperation Agency (JICA), Tokyu Corporation, NTT East Corporation and companies in Japan in the fields of trade, investment cooperation, ODA aid and other economic cooperation.
On the occasion of the 50th establishing anniversary of Viet Nam – Japan diplomatic relations, last June 2023, the delegation of Binh Duong province led by Mr. Nguyen Van Loi - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Binh Duong provincial Delegation of National Assembly Deputies visited and worked with leaders of Yamaguchi prefecture and Ishikawa prefecture. Speaking at the meeting with Yamaguchi prefecture, the Secretary believed that Binh Duong province and Yamaguchi prefecture would continue to promote cooperative activities and tighten the friendship between the two local governments, between the two elected bodies as well as strengthening cooperation activities in economics, culture, medical education between enterprises and units of the two localities, contributing to deepening the friendly cooperative relationship between Binh Duong province and Yamaguchi prefecture in particular and the good cooperative relationship between Viet Nam and Japan in general.
The delegation of Binh Duong province led by Mr. Nguyen Van Loi - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Provincial Delegation of National Assembly Deputies visits and works with Yamaguchi prefecture leaders
At the visit and working session with the leaders of Ishikawa prefecture, the Provincial Party Secretary believed that this was an opportunity for the two sides to discuss establishing a friendly cooperative relationship and developing together in the coming time.
Binh Duong provincial leader delegation led by Mr. Nguyen Van Loi - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Provincial Delegation of National Assembly Deputies visits and works with Ishikawa prefecture leaders
On behalf of Binh Duong provincial leaders, the Secretary affirmed that Binh Duong wished to continue to strengthen extensive cooperation with Yamaguchi prefecture and Ishikawa prefecture in fields such as science and technology, human resource exchange, high-tech agriculture, cooperation in education and training, health, sports, etc. contributing to economic development - society of the two localities.
Also in July 2023, in Hanoi, JICA represented the Japanese Government to sign a commitment to sponsor ODA capital to implement the project "Improving public transport infrastructure in Binh Duong" with a total capital of about 6,244 billion Yen, equivalent to 1,093 billion VND.
In addition, strategic cooperation between VNTT Company - a member of Becamex IDC and NTT Data - a member of NTT East Group, with smart city and smart industrial park application solutions will help enterprises transform smart manufacturing factories.
VNTT Company - a member of Becamex IDC Corp and NTT Data - a member of NTT East Group sign a cooperation agreement to build a smart industrial park in Binh Duong
Not only focusing on economic cooperation, Japan's footprint in Binh Duong is increasingly diverse and vibrant, many cultural exchange activities between Japan and Binh Duong have shown the beauty and cultural identity of Japan - Binh Duong. Through architecture, cuisine, art, cultural festivals, etc. the people of Viet Nam and Japan have gained more understanding, sharing and connection, cultivating increasingly strong friendship and cooperation between Binh Duong and Japanese partners.
Mr. Yamada Takio - Ambassador Extraordinary and Plenipotentiary of Japan to Viet Nam said: "I am very happy because through cultural and sports exchange activities, a "heart to heart" connection is gradually forming between Binh Duong province and Japanese localities. 2023 marks the 50th establishing anniversary of Viet Nam - Japan diplomatic relations, I hope to be able to organize many different events in provinces and cities across Viet Nam. Heart-to-heart understanding is one of the contents of this anniversary project that we attach great importance to, and this will be an extremely important year for Japan and Viet Nam to progress towards the future and contribute to the international community as close, equal partners."
The Binh Duong provincial leaders always respect and appreciate the friendly cooperative relationship between Binh Duong province and Yamaguchi prefecture, Japan. Photo: The PPC Chairman Vo Van Minh (3rd from the right) talks with Yamaguchi prefecture leaders
The PPC Chairman Vo Van Minh affirmed that Japan has become one of the most important and reliable partners in many fields of Binh Duong province. The results achieved in the good cooperative relationship between Binh Duong province and Japanese partners in recent years have made an important contribution to the province's socio-economic development and will constantly be nurtured and increasingly developed for the common good.
The year 2023 marks 50 years of establishing diplomatic relations between the two countries. Celebration activities have been taking place vibrantly in localities in Viet Nam and Japan, including Binh Duong province. Looking back over the past 50 years, the friendship and cooperation between Viet Nam and Japan is at its best stage, developing strongly and comprehensively in all fields. The good results stem from the goodwill and political determination of the two countries' high-level leaders, with the foundation of the increasingly profound understanding between the people of Viet Nam and Japan.