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

  • Cambodia armed with money laundering laws

    Money laundering will now carry a penalty of up to five years in prison while those convicted of financing terrorists will be jailed for up to 20 years, according to new laws promulgated by King Norodom Sihamoni and seen by The Post on Thursday. Comprising nine

  • Schools to be reopened in ‘three stages’

    With guidance from Prime Minister Hun Sen, the Ministry of Education, Youth and Sport, is in the process of reopening schools in three stages. But no timeline has been set, ministry spokesperson Ros Soveacha said on Thursday. Soveacha said the first stage will be to

  • Thai border crossings eased

    The Cambodian Embassy in Thailand said in an announcement on Wednesday that Thailand’s government has allowed certain passengers from several countries to enter its borders. The visitors must go back to their country immediately after their duties in Thailand are fulfilled, the embassy said.

  • Gov’t says tourism recovers slightly despite pandemic

    The Ministry of Tourism and the Phnom Penh municipal administration have recognised 33 tourism businesses in the capital which have consistently implemented safety measures for tourists and adhered to the code of conduct issued by the ministry. Recently, the ministry announced that tourism businesses had to

  • Mull ASEAN border opening, PM urges

    Prime Minister Hun Sen has requested that ASEAN launch a scenario for gradually reopening cross-border travel and trade between countries in the region. He said ASEAN has had more success combating Covid-19 compared to other regions. The prime minister’s request was made at the

  • Ministry reports 11 new Covid-19 cases, reiterates vigilance

    Minister of Health Mam Bun Heng has urged people to continue practising virus prevention techniques after 11 people tested positive for Covid-19 within two days after arriving in the Kingdom. Speaking on Sunday, Bun Heng stressed the importance of washing hands, wearing masks or scarves when

  • Koh Rong land ‘belongs to firm’

    Preah Sihanouk Provincial Administration spokesperson Kheang Phearum told The Post on Sunday that the 35ha being bulldozed by Royal Group Co Ltd in Koh Rong belongs to it after it was leased to it for 99 years by the government in 2008. Phearum said the land does

  • Nine on Indonesia flight Covid-19 positive

    The Ministry of Health on Saturday confirmed nine more imported cases of Covid-19. The nine ‒ eight Cambodians and one Indonesian, aged 22 to 26 ‒ arrived in Cambodia on Thursday via a direct flight from Indonesia and are receiving treatment at the Khmer-Soviet Friendship Hostipal in Phnom Penh.

  • Kingdom’s financial sector healthy

    Cambodia's financial sector remains on a sustainable growth path despite the Covid-19 pandemic squeezing crucial industries, National Bank of Cambodia (NBC) governor Chea Chanto said. Tourism, garments and footwear have borne the brunt of the Covid-19 impact, he said, whereas the financial and agriculture sectors

  • Vietnam told to remove border tents

    Kandal provincial governor Kong Sophoan has ordered local authorities to prohibit the construction of buildings in areas bordering Cambodia and to report any irregularities immediately. Recently, Vietnamese officials removed another seven tents from the border area with Cambodia. His remarks were made on Wednesday afternoon