BREAKING NEWS
Eleven investment certificateswere awarded
toVSIP tenants’projects
14 August 2012, Binh Duong, VN
Binh Duong’s government today
awarded certificates to 17 projects,
including 16 foreign direct invest-
ment (FDI) projects and a locally-
invested one, with total pledged
capital of US$577 million and
VND600 billion.
Twelve of the companies are op-
erational projects that raised capital
for expansion. Majority of them are
Japanese companies from industries
such as precision engineering and
electronic components and materi-
als supply for industrial production.
Eleven of them are new and expan-
sion projects of Vietnam Singapore
Industrial Park (VSIP) tenants.
Saigon STEC Co., Ltd. located at Vi-
etnam Singapore Industrial Park II
(VSIP II) injected the most additional
capital, at US$175 million, taking
the total investment capital of the
company to around US$340 million.
The company manufactures elec-
tronic circuit boards for use in mobile
phone camera.
Hidetake Senoo, Gereral Director of
the company, said Saigon STEC in-
creased its capital to expand its pro-
duction capacity to meet the rising
demand of customers worldwide.
At present, the company is produc-
ing 7 – 8 million units per month.
With the expansion, its production
output will double in September and
October this year. Thereafter, the firm
will gradually increase its monthly
output to 25 million units.
Similarly, the Japan-invested Won-
derful Saigon Electrics Co., Ltd. op-
erating at VSIP ups its capital by
US$150 million, bringing its total
capital to US$240 million. The com-
pany specializes in manufacturing
camera modules for cell phones,
high-capacity integrated circuits,
and printed circuit boards for use in
next-generation network devices.
Nitto Denko Vietnam Co., Ltd. nearly
doubles its investment capital to
US$50 million. Meanwhile, Seebest
Co. Ltd., producer of propellers for
diesel engines and precision com-
ponents used in dental care, pours in
an additional US$14.7 million, raising
its total investment capital to US$20
million.
Another VSIP tenant, International
Beer Co. Ltd. invested by Australis
Mining Limited from Bristish Virgin
Islands plans to inject US$30 million
to develop a brewery at VSIP II with
the capability to generate 50 million
liters of beer per year.
Le Thanh Cung, Chairman of Binh
Duong Province said investment
commitments to the province in
2011 and the first seven months of
2012 continued to grow strongly.
Specially, in 2011, the province at-
tracted US$1.12 billion of FDI and
VND 26.3 trillion (US$1.25 billion) of
local investment. In the first seven
months of this year, the province
lured 69 new FDI projects, while 72
operational projects increased their
capital for a combined total of US$2.3
billion investment capital.
Despite the global and local eco-
nomic woes, the wave of new invest-
ment and expansion show the inves-
tors’ confidence in the investment
environment in Binh Duong Prov-
ince, as well as in Vietnam Singapore
Industrial Park.
(Source: The Saigon Times Daily)
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