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Japanese businesses invest over $5.2 billion in Binh Duong

Updated at Thursday, 26 Oct 2017, 09:19
The Hanoitimes - Japanese investors have so far poured more than US$5.2 billion in 249 projects in the southern Binh Duong Province, Nguyen Thanh Truc, Director of the province’s Planning and Investment Department, said on October 25.
Truc was speaking at a meeting with the participation of provincial authorities and Japanese investors who have projects in the province to help them overcome obstacles they are facing. This is the second time this year that the province has organized this kind of meeting with Japanese investors.
With the capital, Japan remains the second biggest investor in the province behind Taiwan, Truc said, adding that the amount accounted for 18.7 percent of the province’s total foreign direct investment (FDI) capital.
Customers shop at Japanese invested Aeon Mall Binh Duong Canary.
Customers shop at Japanese invested Aeon Mall Binh Duong Canary.
Major Japanese projects in Binh Duong include the $1.2 billion Tokyu Binh Duong property project, the $450 million Wonderful Saigon Electrics project at the Vietnam – Singapore Industrial Park and $95 million Aeon Mall trade centre project.
“The Japanese have continued to invest in Binh Duong , which is a positive sign proving that Binh Duong remains attractive to foreign investors in general and Japanese investors in particular,” Truc said.
Kawaue Junichi, General Consul of Japan in Ho Chi Minh City, said that along with relations between Vietnam and Japan, relations between Japan and Binh Duong Province had developed strongly.
With a high development growth rate, Binh Duong has attracted many foreign investors, he said, adding that Japan is also investing in many infrastructure and transportation projects in Ho Chi Minh City.
Binh Duong is expected to become an important hub for Japanese enterprises in the coming time, he added.
Binh Duong is Vietnam's second highest FDI receiver as it reached 140 per cent of its annual target for FDI attraction by the end of September. The province’s total FDI capital in the first nine months of the year surged 27 percent year-on-year to nearly $1.97 billion.
The province is now home to a total of nearly 3,000 FDI projects, worth over $27.7 billion, from 60 countries and territories.
Binh Duong is also the leading province in developing IPs, new urban areas, and services. Currently, the province has 28 IPs with a total area of over 10,560 hectares and 71 per cent of the occupancy rate. It also has 11 industrial clusters sprawling over a total of 802ha with a 55 per cent of the occupancy rate.
By 2020, the province will have 34 IPs with a total area of 14,790ha.
​Thu Ha
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