Binh Duong Province in Vietnam Attracts Increased Japanese FDI with More Large-scale Projects
A ceremony held on Thursday in Vietnam’s southeastern Binh Duong Province saw the awarding of investment registration certificates and construction permits to Japanese investors for their significant foreign direct investment (FDI) projects. Among the notable Japanese investors receiving these certificates were Nitto Denko Corporation, which secured approval for a stage-6 factory project worth $113 million. Yuwa Vietnam Co., Ltd. also received an investment injection of $40 million for its existing project, while SKM Vietnam Company Limited obtained permits for a plant valued at $10 million.
During the event, Becamex IDC Corporation, a Vietnamese conglomerate based in Binh Duong, entered into a cooperation agreement with Japan’s Aeon Group. Aeon Group had previously developed a $5.1 million project in Binh Duong New City. Additionally, several cooperation projects between Vietnam and Japan were announced at the ceremony, including a partnership for Japan to train high-quality nurses for Binh Duong.
To date, Japanese investors have operated around 350 projects in Binh Duong Province, with a total investment capital of $5.9 billion. Binh Duong is a dynamic locality in Vietnam’s southern key economic region and has established twinning and cooperation agreements with various Japanese cities.
Vietnam and Japan established diplomatic relations on September 21, 1973, and their bilateral ties have flourished over the years. Japan is Vietnam’s fourth-largest trading partner, with two-way trade reaching nearly $50 billion last year, as reported by official sources.