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Japanese firms flock to Binh Duong
The southern province of Binh Duong has become a "popular destination" for foreign investors, particularly those from Japan, according to Ikuo Mizuki, Japan's Consul General in HCM City.
His countryman, Hirota Nakanishi from the Japanese External Trade Organisation (JETRO), agreed with him and added that Binh Duong's administrative agencies, its infrastructure and the local human resources all met the strict requirements demanded by foreign investors.
The strong growth of Japanese investment in the province in the recent past has indicated that Japanese investors are more than satisfied with the southern economic hub.
Amongst the 1,940 investment projects in Binh Duong, worth a total of US$13 billion, 150 of them are Japanese, accounting for $1.4 billion.
According to the provincial Department of Planning and Investment, investment flows from Japan into the province is still rising, and the projects are growing in size.
Particularly notable projects include the new Kubota Viet Nam plant that will manufacture tractors and combine harvesters. Another remarkable project is Kirin Acecook's $60 million factory that produces fruit juice. It is also the first beverage plant to introduce sterile technology in Viet Nam.
Kirin Acecook's General Director Munechika Yokomizo underlined the positive benefits of investing in Binh Duong, including the rapid licensing procedures.
In an effort to facilitate overseas investors, the Chairman of the provincial People's Committee, Nguyen Hoang Son, said that his province was upgrading its infrastructure, especially in industrial zones, as well as reforming its administrative procedures.
Binh Duong attracted more than $2 billion in foreign direct investment last year and Son predicted that this year's figure would be much higher.
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