Eins Vina eyes investment expansion in Binh Duong
Eins Vina eyes investment expansion in Binh Duong
Eins Vina, a unit of South Korean Sea-A Group, is planning to increase investment in its projects in Song Than II Industrial II Park of the southern province of Binh Duong.
At a meeting with Tran Thanh Liem, chairman of the Binh Duong People's Committee on July 31, Tony Pyeon, general director of Eins Vina, said that the company is operating two factories in Song Than II Industrial Park (IP) in Di An town and in Binh Chuan ward of Thuan An town, creating jobs for 9,000 labourers.
Tony Pyeon said that in the coming time, the company will continue to enlarge its projects. He also discussed with local leaders the province's policy to relocate manufacturing factories into IPs.
Liem, in response, said that the province has a policy on restraining the licensing of investment projects outside IPs, as well as labour-intensive works in southern areas.
Binh Duong is now calling on investors to renovate business lines and technologies towards enjoying the country's tax incentive policies. Liem affirmed that the province will continue to improve the business climate, develop IP infrastructure, and intensify administrative reform to facilitate business activities.
Keeping manufacturing and textile and garment operations in Binh Duong since 2005, Eins Vina has achieved good business results over the past 12 years, with 80 per cent of its products exported to the US.
According to local statistics, as of mid-July 2017, Binh Duong attracted an accumulated foreign direct investment (FDI) sum of $27.5 billion, ranking second among the country's most attractive FDI destinations, just behind Ho Chi Minh City.
Manufacturing and processing remains the most popular among foreign investors. Big projects licensed so far this year include the factories of Kraft Vina, Polytex Far Eastern Vietnam, and TPR Vietnam.
"With the improved business climate, electricity, electronics, mechanics, pharmacy, chemistry, trade, and service have become more appealing to foreign investors as the number of business visitors seeking investment opportunities in the province increased significantly compared to previous years," said Nguyen Thanh Truc, director of the Binh Duong Planning and Investment Department.
