Logo of Phnom Penh Post newspaper Phnom Penh Post - More FDI projects set to locate to southern VN



More FDI projects set to locate to southern VN

Content image - Phnom Penh Post
The Saigon Hi-Tec Park in Ho Chi Minh City's District 9 expects foreign-invested enterprises to relocate or open. Vietnam News

More FDI projects set to locate to southern VN

Vietnam News/ANN: More foreign-invested enterprises are expected to relocate or open in the Southern Focal Economic Zone in the last quarter of this year.

Ajinomoto Vietnam, which has been in the country for 27 years, has two manufacturing plants at the Bien Hoa Industrial Park No1 and Long Thanh Industrial Park, both in Dong Nai Province.

With five supply centres and 2,400 employees across the country, the company supplies local customers with spices, food products, beverages and biological fertilisers.

Director-general and president of Ajinomoto Vietnam Keiji Kaneko said the company would build a new plant to make food products on an 8ha area in the Long Thanh IP.

Many other FDI companies also plan to expand their business activities in Vietnam.

In June last year, Bosch announced an investment of $47 million for its plant in Dong Nai Province, following its investments of $23 million in 2015 and $22 million in 2016.

These investments brought the total investment of Bosch in Vietnam to $380 million, according to the Vietnam Investment Review newspaper.

Meanwhile, the Singapore-headquartered OPV Pharmaceutical Joint-Stock company has announced further investment of $47.7 million for its plant in Bien Hoa Industrial Park No 2 in Dong Nai Province, bringing the company’s total investments at the plant to $70 million.

Director of Binh Duong Province’s Department of Planning and Investment Nguyen Thanh Truc said the province attracted FDI flows of $1.3 billion in the first nine months of the year.

“The coming Asian Economic Forum gathered some 700 businesspeople from Vietnam and over the world to Binh Duong Province,” Truc said.

Binh Duong authorities will soon grant investment licenses to new FDI projects, according to Truc.

After 16 years of operation, the park has received FDI of $5.4 billion from multinationals and international hi-tech firms such as Intel, Samsung and Nidec.

The project for Nidec’s Research and Development Centre, for example, is awaiting licensing approval from HCM City authorities.

Nidec has invested in five plants at the park, with total investment of about $500 million.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,