Japanese firms lead investors in Binh Duong with US$482 million
Japanese firms lead investors in Binh Duong with US$482 million
Major Japanese enterprises, including electronics firm Sharp and Nitto Denko, are developing a number of large-scale projects in Binh Duong Province, making Japan the province’s top foreign investor with the most pledged capital, at US$482 million out of US$2.4 billion from 34 countries and territories, over the past nine months.
Speaking at a meeting between the Binh Duong government and foreign investors today, September 24, a representative of the provincial government noted that among the major projects funded by Japanese enterprises, a manufacturing plant project, with total pledged capital of US$135 million, will be developed by Sharp Manufacturing Vietnam Company.
Earlier, Sharp had written to Tokyo Stock Exchange stating its intention to build a factory in Vietnam and establish a subsidiary called Sharp Manufacturing Vietnam, which is aimed at managing the facility’s operations.
Another Japanese firm, Nitto Denko, has also invested in Binh Duong Province through a project with capital pledges amounting to US$186.2 million.
The Binh Duong government confirmed that these investments from Japanese firms had made Japan the top foreign investor in the province over the January-September period, at US$482 million.
At the same time, as many as 34 countries and territories have injected capital into a number of projects in Binh Duong Province this year, with total capital pledges reaching US$2.4 billion, rocketing 81% year-on-year.
At the meeting, many foreign firms and the enterprise association pointed out some difficulties affecting local and international firms’ operations in the province, including traffic, logistics, licensing procedures, import tariffs and manpower.
Addressing the event organized by the province, Binh Duong’s Chairman Tran Thanh Liem pledged to continue enhancing administrative procedure reforms and create more favorable conditions for investors.
Liem noted that in the coming months, the province will focus on developing high-quality services to meet requirements for production and business activities to contribute to the economic growth of the province.
