Binh Duong: Attracting More Hi-tech FDI Projects

 

Outstanding among big investment projects is the project on garment supportive materials production of KyungBang Group (Korea) which has just entered into a land leasing contract for 50 ha in Bau Bang Industrial Park, Ben Cat district, invested by Becamex IDC. This is the leading Group in Korea in the field of weaving thread, fibre and garment supportive materials, established in 1919 with five factories in Korea at present. “After a period of learning about the investment environment in Vietnam, KyungBang Group has selected Binh Duong, namely Bau Bang to invest in a factory capitalized at US$ 160 million (for four phases) as the infrastructure here is satisfactory for a modern factory,” said Mr Lee Joong Hong, President of KyungBang Group. This project plays a key role in attracting foreign investors into the North of the province. It is also an important project supplying materials for Vietnam’s garment industry which is strong in export but dependent in the imported materials.

 

In addition to the project of KyungBang, the project on a soft drink processing and production facility in My Phuoc 2 Industrial Zone in Ben Cat district invested by Kirin Acecook Vietnam was licensed in the middle of April. This is a project of big investment capital with competitive products. This project is a joint venture between Japan’s two leading groups in the field of high-grade food and drink, with total investment capital of US$ 60 million. When put into operation, the factory’s turnover in the first phase will be around US$ 100 million/year.

The infrastructure which Binh Duong has built is an undeniable advantage for investment attraction. During the trip to learn about investment opportunities in Vietnam, the Mayor of San Diego (California, US), Mr Ron Roberts and a business delegation also paid a visit to Vietnam - Singapore Industrial Park, Industry - Service - Urban Centre Complex and My Phuoc Industrial Park in Binh Duong on 25/3/2008. During the visit, San Diego’s business delegation was impressed by and highly appreciated the preparation and treatment from the authorities, as well as the investment in residential houses and human resource training of investors in industrial parks. Therefore, the Mayor said more business delegations to Binh Duong will be sent after the visit, he also promised to reserve favourable conditions for Binh Duong to hold investment promotion conferences in California next June.

In addition to the US business delegation, a delegation of small and medium size enterprises from the Netherlands, engaged in different fields such as plastic production, waterway transport, metal production and processing, has just paid a visit to the province to learn about the investment environment and opportunities here. At the end of the visit the delegation leader H.M.A Alenven said: “Binh Duong has deeply impressed us with its attractive investment environment, outstanding with the infrastructure in My Phuoc Industrial Park which is planned in a modern way as well as Becamex IDC’s preparation for workforce to support investors. Following our trip, Holland’s businessmen shall further promote investment in Binh Duong.”

Explaining the recent attention paid by foreign invested enterprises to Binh Duong, Mr Cheng Fu Hsiong, Vice-President of the Taiwan Electrical and Electronic Manufacturers Association, after coming to Binh Duong accompanied by 26 businessmen to learn about the investment opportunities in Vietnam, said: “Focusing on the province’s workforce training through calling investment in education field is a proper policy. This will make businesses in hi-tech field bravely invest in Binh Duong province.”