Binh Duong province, an industrial hub in southern Vietnam, has approved four investments by Japanese firms worth nearly $170 million.
The provincial authorities granted the investment and construction certificates at the “Meet Japan 2023” on Friday, an event to commemorate 50 years of the Vietnam-Japan partnership (1973-2023).
Aeon Vietnam, wholly-owned by Japanese retailer Aeon, received approval to build a $5.1 million supermarket mall in Binh Duong New City.
Japan-invested SKM Vietnam Company Limited, a manufacturer of machine components and other products, obtained a certificate to build a $10-million factory.
Nitto Denko Vietnam Co., Ltd. was okayed to build the sixth phase of its factory, worth $113 million. The firm specializes in making flexible printed circuits (FPC), precision electronic materials, semiconductor-related items, optical components, and integrated circuit components.
Yuwa Vietnam Co., Ltd. was granted a certificate to build a $40-million factory, also its fifth phase of investment. The firm manufactures components for automobile, medical equipment, machines, and others.
Besides, Binh Duong-based Becamex, a major realty developer in Vietnam, and its subsidiary Becamex Tokyu signed agreements with Japanese partners for cooperation in commerce-service activities and the construction of a luxurious apartment complex called Sora Gardens III in Binh Duong New City.
Binh Duong, featuring 29 industrial parks, is currently the second biggest magnet for foreign direct investment (FDI) in Vietnam, with 4,150 projects and the total registered capital of $40 billion, only behind Ho Chi Minh, said Binh Duong Chairman Vo Van Minh. Of which, Japan is the second-biggest foreign investor with 350 projects worth $5.9 billion, he added.