Japanese corporation pours US$1.2 billion in Binh Duong’s urban projects

Wednesday, Jan 11, 2023 15:17

A corner of the southern province of Binh Duong. — Photo vietnamplus.vn

A leader of the southern province of Binh Duong has hailed the effective investment of Tokyu corporation of Japan in urban development in the province and suggested the corporation also invest in transport infrastructure.

At a working session with Tokyu representatives on Tuesday, Nguyen Van Loi, secretary of the provincial Party Committee, said in the coming years, Binh Duong will give priority to developing infrastructure, especially transport projects that connect the province with other regions.

Tokyu Corporation set up a joint venture with Becamex IDC Corp in 2012, which has invested $1.2 billion so far in an urban development scheme. Some projects in the scheme have been completed and put into use, such as Sora Garden Apartment Buildings, Viet Hoa International School and Hikari Commercial Zone.

Loi stressed that Binh Duong is one of the leading provinces in the country in terms of socio-economic development and attracting foreign direct investment (FDI).

The province attracted over $3 billion in FDI in 2022, ranking second nationwide in terms of FDI attraction, after HCM City.

There are 341 Japanese projects in the locality with a total registered capital of over $5.8 billion. They are mainly in the production of electronic components, electronic circuits and chips, automobile assembly, iron and steel, supporting industries and commercial services.

The Binh Duong leader also said the province is drawing investment into projects that use advanced and environmentally-friendly technologies and are less labour intensive with higher added value. — VNS

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