Becamex IDC to expand urban-industrial complex in Binh Duong

Becamex IDC chairman and general director Nguyen Van Hung (R) shakes hands with a representative of TPP Invest LLC after exchanging a memorandum of understanding on April 27 - PHOTO: HUNG LE

Hung Le Becamex IDC said with the expansion, the urban-industrial complex in the southern province will cover a total area of 3,200 hectares. Around 95% of the 1,000 hectares developed in the first phase have been leased to 95 local and foreign investors, who have pledged a total of US$1.2 billion for projects there. The remaining 1,200 hectares are for residential purposes. Nguyen Van Hung, chairman and general director of Becamex IDC, said the company has decided to widen the complex to bank on a highly expected new wave of foreign investments in Vietnam after the country signed multilateral and bilateral free trade agreements, including the Trans-Pacific Partnership (TPP) and the pact with the European Union (EU). Therefore, infrastructure in the expanded area will be developed quickly. With the area expansion, the population of the province’s Bau Bang District is forecast to rise to 200,000, meeting employment and service demands of investors in the complex. Hung … [Read more...]

Wage spike may be lower than 12.4%

The Saigon Times Daily Huan, who is also Deputy Minister of Labor, Invalids and Social Affairs, told reporters that the council is making preparations for discussions about region-based minimum salary increases in 2017. Huan was quoted by the Vietnam News Agency as saying that the council will weigh a number of regional minimum wage increase plans and look into businesses’ reports on the impact of the wage raise and insurance payments on their operations before submitting a final salary rise proposal. This year, the technical division of the council will prepare analyses for the minimum wage rise plans suggested by representatives of different agencies and discussed by members of the council. The members are officials from the Ministry of Labor, Invalids and Social Affairs, the Vietnam General Confederation of Labor and the Vietnam Chamber of Commerce and Industry (VCCI). "In previous years, the parties concerned put up their minimum wage increase plans for discussion … [Read more...]

Binh Duong gets two big FDI textile-garment projects

An employee is on a production line of a foreign textile company. Binh Duong Province has approved Taiwanese firms to carry out two major textile projects worth a combined US$187 million at Bau Bang IP - PHOTO: QUOC HUNG

Hung Le De Licacy Vietnam Industry Co Ltd will invest US$100 million in a project to produce fibers, cloth, printing items and uniforms. Meanwhile, Chain Yarn Vietnam Co Ltd will spend US$87 million manufacturing and dyeing cloth, yarn, and synthetic fibers. More foreign firms are investing in textile and garment projects in Vietnam in general and Binh Duong in particular to benefit from the Trans-Pacific Partnership (TPP) agreement. The trade pact was signed by trade representatives of Vietnam and 11 other Pacific Rim countries in New Zealand earlier this year. In addition to the two projects, the southern province has approved a number of multi-million-dollar projects to turn out products for the textile-garment industry. The project invested by Far Eastern Polytex Vietnam Co Ltd is a case in point. The Taiwanese firm registered US$274.2 million for a fiber-weaving-dyeing project on 99 hectares at Bau Bang IP. The project has an annual capacity of 43,200 tons of synthetic … [Read more...]

Vietnam’s textile-garment industry in the post-TPP period

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VietNamNet Bridge – Vietnam’s textile and garment industry has attracted the majority of the biggest foreign direct investment projects as investors want to build factories in Vietnam to capitalize on opportunities from the Trans-Pacific Partnership (TPP). Japanese garment-textile companies began expanding their production in Vietnam after the Trans-Pacific Partnership (TPP) was approved. According to Nikkei Asian Review, Vietnam’s competitive advantage has been strengthened to become the world’s export center, attracting foreign investment flows, including those from Japan. Many manufacturers hope to have stronger motivation after the TPP, of which Vietnam is a member. Experts said that the TPP will help boost production and exports in Vietnam and enhance its maritime trade with the US. For textile companies, Vietnam’s skilled workers are a plus even when the labor costs are higher than that of Bangladesh and Myanmar. Speaking at the … [Read more...]

ASD rolls out red carpet for Binh Duong investors

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The demand for event organisers has recently grown in Binh Duong as the southern province welcomes more foreign investors each year. With this in mind, CEO of ASD Group Nguyen Tuong Dang Khoa spoke with VIR’s Nam Phuong about the great potential of Binh Duong-based event management, as well as how firms can stand out in this competitive sector. Can you explain the rising need for event organisers in Binh Duong? What requirements do foreign clients tend to have? The trend started around 2007, when Binh Duong began rolling out the red carpet for foreign direct investors. At the same time, the new city of Binh Duong also kick-started its campaign to become a first-class Vietnamese city by 2020. As a result, industrial parks at the province have received a major influx of both domestic and foreign direct investment (FDI). This growth has led to a burgeoning demand for Binh Duong-based PR and event management firms. It’s true that FDI clients often require very high standards … [Read more...]

Taiwanese firms invest $1.1b in Vietnam

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Taiwanese businesses have pumped US$1.11 billion into 154 projects in Viet Nam over past 11 months, making the territory one of the leading sources of foreign direct investment in the country, according to the Foreign Investment Agency's year review. During the period, the processing and manufacturing sector attracted the largest share of investment with $890 million, about 80 per cent of newly registered Taiwanese capital in the country. The construction sector followed behind with $130 million, and other investments went to industries such as real estate and mining. Typically, Taiwanese investors have a tendency to invest in the country's key southern region due advantages in market and support industries, the report said. Binh Duong Province took the lead with $427 million, a third of total Taiwanese investment, with Dong Nai Province in second with $242 million. The largest Taiwan-invested project is Polytex Far Eastern Viet Nam's 99ha-plant, which will manufacture … [Read more...]

Taiwanese firms invest $1.1b in VN

During the period, the processing and manufacturing sector attracted the largest share of investment with $890 million, about 80 per cent of newly registered Taiwanese capital in the country. — Photo VNA

HA NOI (Biz Hub) — Taiwanese businesses have pumped US$1.11 billion into 154 projects in Viet Nam over past 11 months, making the territory one of the leading sources of foreign direct investment in the country, according to the Foreign Investment Agency's year review. During the period, the processing and manufacturing sector attracted the largest share of investment with $890 million, about 80 per cent of newly registered Taiwanese capital in the country. The construction sector followed behind with $130 million, and other investments went to industries such as real estate and mining. Typically, Taiwanese investors have a tendency to invest in the country's key southern region due advantages in market and support industries, the report said. Binh Duong Province took the lead with $427 million, a third of total Taiwanese investment, with Dong Nai Province in second with $242 million. The largest Taiwan-invested project is Polytex Far Eastern Viet Nam's 99ha-plant, which will … [Read more...]

FDI approvals in Binh Duong beat target

An employee is at work at a factory of an FDI enterprise in Binh Duong Province. Foreign enterprises have registered US$2.8 billion for both new and operation projects in Binh Duong Province in the year to date - PHOTO: QUOC HUNG

Hung Le The new FDI pledges include over US$2.06 billion in 188 fresh projects and more than US$765 million in 123 operational ventures. They have increased sharply in the final months thanks to some big-ticket projects being approved by the southern province. Take as an example an industrial paper project of Taiwan’s Cheng Loong Corporation. According to the investment certificate, Cheng Loong Binh Duong Paper Co. Ltd. will invest around US$1 billion in a mill with an annual capacity of one million tons of industrial paper and 50,000 tons of household paper. The project covering 75 hectares is scheduled to get off the ground at Ascendas-Protrade Industrial Park in Ben Cat District this month and come online in early 2018. The paper plant is the biggest foreign-invested project approved in Binh Duong this year. It is Cheng Loong’s largest project abroad as well. Cheng Loong has over 50 years of experience in the development of cutting paper and carton packaging. … [Read more...]

Binh Duong receives $1.7b of FDI since early 2015

BINH DUONG (VNS) — Some US$1.7 billion in foreign direct investment (FDI) has been poured into southern Binh Duong Province since the beginning of 2015, surpassing the yearly target by 70 per cent and up 11.1 per cent year-on-year. According to the provincial People's Committee, the province licensed 176 new FDI projects during the period, worth $966 million, and $734 million was added to 113 operational projects. Chief among these is a $274-million textile project run by Far Eastern Polytex Vietnam, a member of Taiwan's Far Eastern Group, in Bau Bang Industrial Park. Another is a $50-million Samoa wood factory in the Thanh An industrial cluster. An extra $130 million was pumped into the Vina Kraft Paper Ltd Co in Ben Cat district. The Chanh Duong Paper Ltd Co added more $74 million in investment. Binh Duong is now home to 26 industrial parks, covering a total area of 8,800 hectares. The locality plans to attract $1.4 billion in FDI in 2016. — VNS … [Read more...]

Regional minimum wages to rise next year

An employee is at work at a factory of Saigon Paper in Tan Thanh District, Ba Ria-Vung Tau Province. The plant is located in region two, so it will be required to raise minimum wages by at least 12.73% early next year - PHOTO: MINH TAM

Minh Tam and Thuy Dung The Government’s Decree 122/2015/ND-CP on region-based minimum wage increases was issued on November 14, nearly three months after the National Wage Council made a salary spike proposal following heated debates between the Vietnam General Confederation of Labor and the Vietnam Chamber of Commerce and Industry. According to the decree, those working for companies, cooperatives, farms, household businesses, individuals and organizations under labor contracts will get an additional VND250,000-400,000 per month, up an average of 12.4% compared to the current salaries. When raising minimum wages for their staff, employers are prohibited from removing or cutting allowances for workers who work overtime, at night or in a toxic environment. Other allowances, subsidies and bonuses must be maintained as stated in their labor contracts and collective labor agreements, according to the decree. As for vocationally trained workers, employers must pay them at … [Read more...]

Vietnam on track for FDI target

The Glonics Vietnam Ltd Company's headphone production line supplies Samsung. Vietnam expects to lure more projects worth billions of US dollars, like those from Samsung. — VNA/VNS Photo Hoang Nguyen

Vietnam is likely to attract US$22-US$23 billion worth of foreign direct investment this year, thanks to a strong on-year surge of 40.8% to US$19.3 billion in registered foreign capital during the last ten months. According to the Ministry of Planning and Investment (MPI), as of October 2010, the country granted new investment certificates to 1,657 projects with the total registered investment capital of US$12.43 billion, up 26.9% and 24.8% year-on-year, respectively. It also allowed investors to add US$6.9 billion to 667 existing projects during the period. Between January and October, a total of US$11.8 billion worth of foreign direct investment (FDI) was estimated to have been disbursed, up 16.3% year-on-year. Among the various sectors, the processing and manufacturing and real estate sectors continued to be the most attractive to foreign investors, with the total registered capital of US$12.5 billion, accounting for 64.7% of the country’s total FDI. The runners-up were … [Read more...]

Jan-Oct FDI in Binh Duong soars

Quoc Hung Foreign-invested enterprises have registered a total of over US$1.63 billion for projects in the southern province in the January-October period, including US$910 million for 165 new projects and US$722 million for 107 operational projects. The total figure comprises over US$200 million for 23 new projects and US$330 million for 15 operational projects for which the provincial government granted investment certificates last Friday. The 23 new projects are active in supporting industries for automobile, bicycle and motorbike manufacturing, mechanical engineering, apparel and services for industrial production. Some major fresh projects include a US$30-million project of South Korea-based SJF Vina Co. Ltd to produce auto parts in My Phuoc 3 Industrial Park (IP) and an US$18-million project of Taiwan-based CLK Cold Storage Co. Ltd. to provide cold storage facilities and bonded warehouse services in Tan Dong Hiep B IP. Meanwhile, South Korea’s Jung Kwang Vietnam … [Read more...]

Taiwanese firm builds bike production cluster in Binh Duong

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VGP - A cooperation agreement to build a bicycle production cluster in the southern province of Binh Duong was signed between representatives from the Active International Viet Nam Co., Ltd and the Becamex IDC on October 23. Under the document, Active International Viet Nam chose the Bau Bang Industrial Park (IP), which was invested by Becamex IDC, to house the cluster. The project, with an estimated cost of US$200-250 million, will be built on an area of 80 hectares in the Bau Bang IP. Once completed and operational, it is expected to attract 45-60 businesses and generate jobs for 10,000 laborers. The Active International Viet Nam is a subsidiary of Taiwan (China)’s DDK Corporation, which is one of the world’s leading bike and plastic spare-part manufacturers. The firm has operated in the Song Than 2 IP in Binh Duong’s Di An town since 2000. Its factory in the Dai Dang IP in Thu Dau Mot City is scheduled to go into operation this month.-VNA … [Read more...]

Construction of ten-lane expressway in Binh Duong begins

The new expressway will be connected with the newly built My Phuoc-Tan Van route.

NDO – Construction of the My Phuoc-Bau Bang 10-lane expressway in the southern province of Binh Duong was kicked off at a ceremony held in the province on October 20. >> Binh Duong: Over VND4.8 trillion invested in two arterial roads The 11-kilometre road will connect the newly inaugurated My Phuoc-Tan Van road in the My Phuoc Urban and Industrial Zone with Highway 13 at the Bau Bang Urban and Industrial Zone and Highway 1A. With a width of 62 metres, including seven metre wide pavements on either side and a three metre wide median strip, the designated maximum speed for vehicles travelling on the road is 80kph. Aside from the cost of site clearance, the project’s total investment is VND967 billion (US$43.5 million). Speaking at the ceremony, Vice Chairman of the Binh Duong provincial People’s Committee Tran Thanh Liem noted that it is an important transport project for the province to expand regional linkage among Binh Duong, Binh Phuoc, Ho Chi Minh City … [Read more...]

Binh Duong opens major road to traffic

Cars travel on the first-phase My Phuoc-Tan Van road, which was opened to traffic on October 13 - PHOTO: QUOC HUNG

Quoc Hung Built by Becamex IDC Corporation, the first-phase road section stretches 16 kilometers from Road DT 741 to An Phu Roundabout. It is part of My Phuoc-Tan Van road capitalized at VND4.3 trillion and designed to be 62 kilometers from Bau Bang to National Highway 1A. The road will have six lanes for vehicles to travel at a maximum speed of 80 kilometers per hour. The My Phuoc-Tan Van road will pass through major industrial parks in Bau Bang, Ben Cat, Thu Dau Mot, Thuan An and Di An in Binh Duong Province. It is expected to help ease traffic congestion on nearby roads and facilitate goods transportation in the area and the southeastern region. Becamex IDC chairman Nguyen Van Hung described the new road as a key route of the province that links Ho Chi Minh Highway and National Highway 1A and the transport network of southern major economic zones. When completed, it will reduce vehicular traffic on National Highway 13 and Road DT 743. As the road connects the province with … [Read more...]

Phu Yen opens highway for public use

The Highway 1A section which passes An Cu Commune, Tuy An District in the southern province of Phu Yen. — VNA/VNS Photo The Lap

PHU YEN (VNS) — The Ministry of Transport, in co-ordination with the southcentral province of Phu Yen, today opened Highway No 1, which passes through the province, for public use. Work on the highway, which is 66.2km long, began in September 2013. The highway, stretching from Song Cau Town to Dong Hoa District, received a total investment of more than VND4.3 trillion (US$192 million) from a government bond. It is designed to withstand speeds of up to 80km per hour. To complete the project, more than 4,600 households in the province had to be resettled. Also today, the southern province of Binh Duong inaugurated the first phase of the My Phuoc-Tan Thanh Road and started construction work on the DT743. The two roads are considered the province's main thoroughfares and are expected to help promote the economy and reduce traffic jams in the area. The My Phuoc-Tan Van Road has a total length of nearly 30km, with 18 flyovers. The road can withstand speeds of 100km per hour and … [Read more...]

Labor Confederation seeks 14.4% salary increase

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The Vietnam General Confederation of Labor (VGCL) sent a proposal to the Prime Minister on October 5 seeking an increase to the minimum salary in 2016 of 14.4 per cent, saying it did not agree with the increase 12.4 per cent decided on by the National Wage Council. A VGCL representative said the factors behind the proposal included improving economic development and that the minimum salary must ensure the minimum living standards of workers and their families under Article No. 91 of the Labor Law. The 14.4 per cent increase in 2016 would lead to the minimum salary meeting living standards in 2017, he added. The proposal comes as the National Party Congress approaches. On September 3 the National Wage Council proposed that that the minimum wage in 2016 be increased by 12.4 per cent. The minimum for Regions I, II, III and IV would be VND3.5 million ($156), VND3.1 million ($138), VND2.7 million ($120) and VND2.4 million ($107), respectively. Region I:Districts in: - Hanoi: Gia … [Read more...]

Binh Duong Police seize 500 illegal imported guns

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BINH DUONG (VNS) — Police in this southern province has detained a truck with more than 500 imported guns and ammunition on National Highway 13 through the Bau Bang District. Truck driver Tran Nam Tuan, 27, from HCM City's Go Vap District was immediately arrested while the owner of the batch of guns being illegal transported tried to escape when the police stopped the truck yesterday. The batch included 388 sport guns, 117 gun mufflers and 5kg of ammunition hidden under the trunk of the truck. Le Van Thanh, 44, the batch owner from Chon Thanh District, Binh Phuoc Province, was arrested and immediately confessed that he had bought such illegal guns in Indonesia at a price of US$25 each and tried to resell them in Viet Nam for profit. Police from Bau Bang District said they would continue investigating the case. — VNS … [Read more...]

Binh Phuoc builds $1b work park

A view of central Dong Xoai Town in southern Binh Phuoc Province. An urban area-industrial park worth US$1 billion began construction in the province. — Photo tanthanhcentercity.com.vn

BINH PHUOC (VNS) — Construction of a US$1 billion urban area-industrial park began in the southern province of Binh Phuoc's Chon Thanh District last week. Developed jointly by Becamex – Binh Phuoc JSC, a joint venture between Becamex IDC and Song Be Rubber Company, and others, the 4,633ha project is expected to attract investments of $3 billion when completed. Of the area, 2,448ha will be earmarked for the industrial park, which will focus on certain sectors like electronics, information technology, telecom, food and agricultural processing, and others. Nguyen Van Hung, chairman and general director of Becamex IDC, said the complex would help transform an agricultural area, helping industrialise and modernise Binh Phuoc and the country in general. The complex is situated on National Highway No. 13 linking Cambodia and National Highway No. 14 going to the Central Highlands. Becamex has built several industrial parks like the Viet Nam – Singapore Industrial Park in … [Read more...]

Binh Duong attracts $1.4 billion in FDI

FDI investments in Binh Duong are mainly in industrial production and supporting industry. — Photo www.sggp.org.vn

BINH DUONG (Biz Hub) — The southern province of Binh Duong attracted more than US$1.4 billion of foreign direct investment (FDI) capital in the first eight months of this year, according to the provincial Department of Planning and Investment. The investments were mainly in industrial production, supporting industry, exports, trade, retail and property. Of these, 124 new projects, valued at $788 million, were granted new licences and 85 projects saw increased capital of $647 million. One of the largest projects is the $274 million Polytex Far Eastern Co, Ltd textile project, invested in by the Taiwanese Far Eastern Group at Bau Bang Industrial Park. To date, nearly $22 billion in FDI capital has been designated for Binh Duong. Tran Van Nam, chairman of the provincial People's Committee, attributed this funding to the province's infrastructure investment, along with the infrastructure development of 10,000 ha of 28 industrial parks. Not only the foreign business sector, but … [Read more...]