FDI in Binh Duong will exceed 2.6 billion USD

FDI in Binh Duong will exceed 2.6 billion USD
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Hoa Nguyen, ANT Consulting

 

According to the People’s Committee of Binh Duong province, the estimation the province’s FDI this year will exceed 2.6 billion USD, much higher than a lot of goals set from the beginning of the year which is just over 1 billion USD. Moreover, many FDI enterprises operating in the area have also increased investment capital.

As reported by Binh Duong province, out of more than 2.6 billion USD invested in this province in 2012, 105 projects have been granted investment certificates with the total investment capital of 1.58 billion USD.?The remaining capital of more than 1 billion USD belong to 114 projects which are raising capital to expand investment.

According to Mr. Tran Thanh Liem, Vice Chairman of Binh Duong province, the increase in investment is due to the policy of this province consistent with investors, in particular, the development of production infrastructure, as well as many provincial vocational training workers that could meet the requirements of investors.

This year there are 3 businesses in Binh Duong with increased capital of more than 100 million USD.?In this list, there is Sun Steel Company which is operating in the field of manufacturing corrugated steel with a capacity of 2.25 million tons / year.?Sun Steel decided to add 120 million USD, bringing the total investment of this company to 420 million USD to expand two galvanizing and color coating line to meet the requirements of domestic and foreign consumption.

In the field of high technology, manufacturing electronic circuit boards in mobile phone camera, Saigon Stec Company increases capital with 175 million USD to expand production at VSIP II industrial park.?With this capital increasing, it raises the company’s total investment to 340 million USD, in order to increase production capacity to 225 million units / year.

At VSIP I industrial park, Wonderful Saigon Electrics Company has added 150 million USD to increase the production capacity of the camera module, producing all kinds of high-capacity integrated circuits, manufacturing all kinds of electronic circuit boards for next-generation network equipment to increase by 245 million products / year.

Results achieved in 2012 has increased the number of FDI projects in Binh Duong province to 2,117 projects from 40 countries and territories, with a total investment of more than 17.3 billion USD.

Along with the large capital investment, the trend is investing in the field of manufacturing product with high technology content, has the ability to compete such as electronic chip manufacturing, computer accessories, cameras, auto parts… which are focused by the FDI enterprise.

In 2012, exports of Binh Duong province reached more than 12.13 billion USD, increase by 16% compared with 2011, in which the export FDI reached 9.9 billion USD, increase by 19.3% over the previous year.

 

 

(Source: TBKTSG)