Japan now tops the 64 countries and territories investing in Binh Duong province with 304 projects worth 5.65 billion USD (Photo: VNA)Hanoi (VNA) – Japanese investors are pouring morecapital into the southern province of Binh Duong to tap into local potential inelectronic component manufacturing, automobile assembly and production, andsupporting industries.
Hideyuki Okada, head of the Japanese BusinessAssociation in Ho Chi Minh City, said Japanese investment into Vietnam has beensoaring for the past many years. More and more Japanese firms are making newinvestments and expanding existing projects in the country amid the relocationof their production facilities from China to Southeast Asia.
According to him, the abundant workforce,political stability and the large consumption market are factors attractingJapanese investors to Vietnam, the focus of attention from Japanese firms toASEAN at present.
He took Binh Duong as an example, noting thatJapan now tops the 64 countries and territories investing here with 304projects worth 5.65 billion USD, accounting for 16.2 percent of the total FDIcapital in the province.
Most of Japanese investors here operate inelectronic component manufacturing, automobile assembly and production, andsupporting industries. Many of them have also invested in infrastructure, urbandevelopment, and trade in services.
The Sharp Manufacturing Vietnam Co. Ltd recentlyinvested in a factory worth 135 million USD in the Vietnam – Singapore II-AIndustrial Park. Work on the project, which will produce air purifiers, liquid-crystaldisplays and electronic devices, is scheduled to begin next year.
On October 10, Panasonic Life Solutions Vietnamstarted the construction of its second factory in Binh Duong. The project,invested with over 45 million USD, will manufacture ceiling fans and airventilators.
Additionally, Nitto Denko Vietnam Co. Ltd hasalso poured 186.2 million USD in an integrated circuit production project inthe province.
Hideyuki Okada said more Japanese manufacturersin supporting industries will come to invest in Binh Duong. Therefore, hiscountry’s investment capital here is likely to continue growing in the timeahead.
That also requests the southern industrial hubof Vietnam to develop new industrial parks or expand existing ones to meetbusinesses’ production demand, he added.
At the recent dialogue with Japanese businesses,Chairman of the provincial People’s Committee Tran Thanh Liem said Binh Duongwill harness resources to perfect socio-economic infrastructure, expandindustrial parks, ready land for investment projects, promote human resourcestraining, build more housing for workers, and better supply labourers forinvestors./.
VNA
