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In the shifting trend of investment capital flows, Binh Duong continues to attract foreign investors not only by stabilizing the post-pandemic situation, but also by preferential policies, the commitment to the infrastructure and the most favorable conditions for investors to operate effectively.

Right choice

Talking to us, Mr. Do Nhat Hoang, Director of Foreign Investment Department under Ministry of Planning and Investment, affirmed that Binh Duong has been and is an ideal destination, where foreign investors can stay and succeed. The clearest proof of the statement is the effective investment by large corporations in Binh Duong, overcoming the ongoing geopolitical challenges in the world.

Chairman of the Provincial People's Committee Vo Van Minh visits Sharp Manufacturing Vietnam's showroom at VSIP II-A Industrial Park

“For an example, Sharp Corporation's choice to build a factory right at the height of the COVID-19 epidemic and their development after 2 years is the correct answer for the corporation's right choice of the industrial parks well-invested in infrastructure, green ecosystems and properly developed trade and services. Binh Duong is the ideal destination for high-quality capital flows that are moving to Vietnam. The strong commitment of the government for favorable conditions for investors is a great advantage to help Binh Duong move forward in a period of common difficulties," said Mr. Do Nhat Hoang.

In fact, Sharp Manufacturing Vietnam (SMV) has made great progress. Mr. Katsunori Nagata, General Director of the company said that after 2 years of establishment, SMV has stabilized production. The company sets a revenue target of VND 3,150 billion in 2022, which is 3 times higher than the time of establishment in 2020 with the number of employees of 1,500. Currently, SMV intends to produce crystal displays for computers and televisions after 2023. “To gain this result, besides the collective efforts of the company's leadership and employees, the full support of all levels and sectors in Vietnam Nam and Binh Duong put the project into operation on schedule. Sharp Corporation aims to turn SMV into a prosperous development factory in Binh Duong and wants to get support from the province,” said Mr. Katsunori Nagata.

Sustainable development expectations

Talking to us, Mr. Masahiro Okitsu, Deputy President of Sharp Corporation, said: “So far, we have mainly expanded to build factories in China. But now we are tending to expand development in Southeast Asian countries (ASEAN). Vietnam is an important country in the group's global development strategy and Binh Duong is a destination that we consider carefully. We decided to build SMV in Binh Duong province, which is expected to develop further in the future. We are considering expanding production and hope to continue to receive support from all levels of government. We are currently planning to install two more lines to increase production capacity.”

Mr. Masahiro Okitsu added that he is really happy because the information on investment in transport infrastructure in the direction of easy connection with seaports and airports has been invested to meet the needs of businesses. Sharp Corporation also wants the training of human resources in the direction of connecting schools and businesses that is to be promoted more strongly to create a skilled workforce to meet the needs of high-tech enterprises.

Agreeing with investors, Mr. Do Nhat Hoang also said that in order to continue to create new thrusts, in its development orientation, Binh Duong needs to develop a high-tech industrial model associated with the ecosystem of high quality service trade. The training of high-quality human resources also needs to continue to develop strongly. The Foreign Investment Department will assist Binh Duong in removing obstacles beyond its competence.

It is good news for the business community in Binh Duong and Vietnam that Mr. Masahiro Okitsu affirmed: “Particularly for components and equipment for the production process, the corporation will try to buy from vedor in Vietnam. This not only shortens delivery times and reduces distribution costs, but Vietnamese component manufacturers also have special benefits. We believe that we can contribute to the further development of Vietnam's economy.”

Mr. Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of the provincial People's Committee, affirmed that Binh Duong with decades of experience in attracting foreign investment along with a smart and sustainable development strategy in the future will be a suitable place for corporations to develop long-term and do business effectively. Binh Duong provincial authority is committed to creating the best conditions during the construction and operation of the projects.

Reported by Tieu My – Cam Tu – Translated by Vi Bao