Eleven investment certificates were awarded to VSIP tenants’ projects

Binh Duong – Binh Duong’s government today awarded certificates to 17 projects, including 16 foreign direct investment (FDI) projects and a locally-invested one, with total pledge capital of US$577 million and VND600 billion. Eleven of them would be located in Vietnam Singapore industrial parks in Binh Duong Province.

Twelve of them are operational projects that raised capital for expansion. Most of them are Japanese companies active in fields such as precision engineering and production of electronic components and materials supply for industrial production, said the provincial leaders.

Saigon STEC Co., Ltd. At Vietnam Singapore Industrial Park II (VSIP II) adds the most capital, at US$175 million, taking the total investment capital of the company to around US$340 million. The company manufactures electronic circuit boards for use in mobile phone camera. Hidetake Senoo, gereral director of the company, said Saigon STEC increased capital to expand production to meet the rising demand of customers worldwide. At present, the company is producing 7 – 8 million products per month, which will surge to 14 million in September and October. Thereafter, the firm will gradually raise its monthly output to 25 million units.

Similarly, the Japan-invested Wonderful Saigon Electrics Co., Ltd. operating at VSIP ups its capital by US$150 million, bringing its total capital to US$240 million. The company 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 capital to US$50 million. Meanwhile, Seebest Co. Ltd., producer of propellers for diesel engines and precision components used in dental care, pours 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 spends US$30 million developing a brewery at VSIP II with a capacity of 50 million liters per year.

Le Thanh Cung, chairman of Binh Duong said investment commitments to the province in 2011 and the first seven months of 2012 continued to grow strongly. Specially, in 2011, the province attracted US$1.12 billion in FDI and VBD 26.3 trillion (US$1.25 billion) in local investment. In the first seven months of the year, the province lured 69 new FDI projects, while 72 operational projects raised capital, with a combined US$2.3 billion.

Despite the global and local economic woes, the wave of new investment and expansion show the investors’ confidence in the investment environment in Binh Duong Province, as well as in Vietnam Singapore Industrial Park.

(Source: The Saigon Times Daily)
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