Binh Duong Welcomed 1 Billion USD Project

Set-up company in Binh Duong

Many foreign corporations have chosen Vietnam to become their investment destination to set up business in Vietnam and the most recent project coming from a Korean investor. This is the project to produce tire and automobile airbags of Kolon Industries Corporation (Korea). This “super plant” will be located at Bau Bang Industrial Zone of Binh Duong province.

Mr Tran Thanh Liem – Chairman of Binh Duong Province has just signed a memorandum of understanding with leader of Kolon Industries Group (Korea) concerning the implementation of the plant to produce tire and automobile airbag with investment capital up to 1 billion USD. On this occasion, Becamex IDC Corporation has also announced that Kolon Industries leases from them nearly 42 hectares of land in Bau Bang Industrial Zone (Binh Duong province) to put the plant on.

According to Kolon Industries Corporation, after more than two years of searching and working with many units and localities in and outside the territory of Vietnam, the Corporation has selected the Bau Bang Industrial Park as the location to implement the project to produce tire and automobile air bag in Vietnam. The expected total investment capital of the project for all three phases is about 1 billion USD, in which the Phase 1 from 2017 to 2018 is 220 million USD, Phase 2 from 2018 to 2026 is 600 million USD and after that is the Phase 3.

Established since 1954, Kolon is one of Korea’s transnational corporations in multiple industries with high-tech products: tire, automobile air bag, film to use in electricity industry, electronics, fashion….

By the end of October 2016, Binh Duong has 2,818 investment projects from 59 countries and territories with a total capital of 25, 6 billion USD. In particular, Korea is the country ranks 3rd with 594 projects and a total investment of nearly 2.4 billion USD.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

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Canadian Investors Invest in Binh Dinh Province

Setting up company in Vietnam

Seldat Vietnam Co., Ltd (coming from Canada) went to Vietnam to set up business by implementing the garment factory project.

Department of Planning and Investment of Binh Dinh province has just granted certificate of investment registration for Seldat Vietnam Co., Ltd (investors from Canada) to invest in Seldat Vietnam garment factory project in An Hoa village, Nhon Khanh commune, An Nhon town, with a total investment of nearly 1.2 million USD.

Accordingly, the project will invest 5 production lines with designed capacity of 2 million products/year, products are mainly exported to the US market. The project is built on an area of 2,440m2 and is expected to be completed and put into operation in quarter II/2017.

The project is licensed within the first days of the year so that it can be considered a meaningful gift for the efforts of the Binh Dinh province in attracting investment. Binh Dinh province has consistently implemented reforms, simplification of administrative procedures, thereby contributing to create an open investment environment, attracting investors to come to the province. Up to date, Binh Dinh has 69 FDI projects, total registered capital of 783 million USD, mainly are investors coming from potential economies in the world like the US, China, Japan, France, Korea, Singapore, Malaysia, Thailand….

In 2017, in order to continue to be an attractive destination for investors, besides the administrative reform, leaders of Binh Dinh province will strengthen dialogue with businesses in order to listen to their desire, disassemble any difficulties and obstacles to improve the investment and business environment, promoting economic development of the locality.

Currently, the Department of Planning and Investment of Binh Dinh is finalizing the draft scheme for implementation of the model “one door, one door interconnection”, preparing to submit to the leaders of Binh Dinh province for consideration and promulgation. At the same time, the E-Regulations project (electronic regulation system). The website has been completed, fully published the procedures relating to foreign investment so that investors can access and search for information about the investment procedures when investing in Binh Dinh.

According to Director of Investment Promotion Centre (IPC) of Binh Dinh, Binh Dinh province’s goal is to continue to invest in development of Nhon Hoi Economic Zone and industrial zones as planned for these places to become seeds of the province’s growth in the sectors such as industry, tourism services, urban; create motivation and basis so that until 2020, Binh Dinh province can basically become developed province of the central region.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

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Japanese Investors Want to Implement Kobe Cow Raising Project

Setting up company in Vietnam

Livestock breeding is one of the important economic sectors in Vietnam. However, it appears that due to the competition pressure, disease, and lack of the control of the authority, the quality of the products have been negatively impacted. It is important for Vietnam to encourage project to set-up business in Vietnam in animal breeding to create a better competition environment, with high quality standard of products to be produced under a better control of the local state authorities.

Mr. Hironori Sakai, Secretary General of the Vietnam-Japan Friendship Association, had just have working visit to Quang Binh province (Vietnam) to survey implementing the Kobe cow raising project.

The delegation was welcomed by Vice Chairman of Quang Binh People’s Committee Mr. Nguyen Xuan Quang and leaders of Departments of Planning and Investment, Agriculture and Rural Development, Natural Resources and Environment, Foreign Affairs, Port Authority, Provincial Customs Department.

At the meeting, leaders of the Quang Binh Department of Agriculture and Rural Development reported on some issues related to the Kobe cow raising project in the province.

Accordingly, the Department has also introduced the locations in Quang Tien, Quang Luu Commune (Quang Trach District) and Truong Xuan, Truong Son (Quang Ninh District) for investors to select and deploy the project.

At the present, the whole province has about 2,200 hectares of grass and maize for cattle feed. When implementing the project, the Department will direct localities to actively convert other areas of rice and inefficient crops into grass and maize to ensure sufficient feed supply for the project.

Speaking at the meeting, Mr. Nguyen Xuan Quang stressed that the investment in cattle breeding project in Quang Binh is in line with the provincial policies and orientations. The province is willing to create favorable conditions for Japanese business delegations to explore the necessary conditions for the investment procedures.

In addition, Vice Chairman Nguyen Xuan Quang also requested the Japanese business delegation to coordinate with the relevant departments and localities to complete the legal procedures to implement the cow raising project in Quang Binh province in the shortest time.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

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Vietnam Real Estate Ranks Second in Attracting FDI

Real Estate market entry into Vietnam

In the first quarter of 2017, the real estate sector continued to grow steadily as it continued to rank second in attracting foreign direct investment (FDI) and the number of newly established businesses continued to increase. Those are good signs showing that foreign investors prefer to invest and set up company in Vietnam.

According to the Vietnam National Real Estate Association (VNREA), in a total of 7.71 billion USD registered FDI in the first quarter of 2017, the real estate business sector attracted 0.34 billion USD, accounting for 4.5% of total registered capital and ranked second after processing and manufacturing industries in attracting FDI.

The most remarkable project in the field of real estate in the first quarter was the Vietnam – Singapore Industrial Park III project, which is invested in Hoi Nghia commune (Tan Uyen town) and Tan Lap commune (Bac Tan Uyen district), Binh Duong province, on an area of 1,000 hectares with investment capital of 284.7 million USD, invested by Vietnam – Singapore Industrial Park Joint Venture Limited Company (VSIP).

The first quarter, also recorded 924 real estate businesses were newly established, increasing 55% in number of enterprises and 34% in capital.

According to real estate professionals, in the second quarter, the resort real estate market will continue to grow strongly, attracting the attention of both foreign and domestic investors thanks to the great tourism potential of Vietnam.

Regarding capital for real estate development, it is forecasted that FDI capital will still accounts for a high proportion, domestic capital is the main source of capital. Capital in the people and remittances will be mobilized more, especially investment in the tourism and resort sectors.

Real estate transactions are expected to increase as some large projects with thousands of units are soon to be offered for sale. However, investors are advised to be cautious in selecting projects with good incentives and professional operators to invest.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

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Will Form New Value Chain in Vietnam – Japan Economic Cooperation

Set-up business in Vietnam

Japan has truly become a strategic partner of Vietnam. Currently, trade activities between the two countries are being promoted and more and more Japanese businesses choose to set up company in Vietnam.

According to Mr. Hironobu Kitagawa, Chief Representative of the Japan External Trade Organization (JETRO) in Vietnam, it is not just a single sector investment, the integration of industry groups to create new value chains is essential for Vietnam -Japan economic cooperation.

During the recent visit to Japan by Vietnam Prime Minister Nguyen Xuan Phuc, many collaboration memorandum have been signed, as well as 1,600 attendees pointed out that Japanese enterprises pay high attention to the investment in Vietnam. In the eyes of Japanese businesses, Vietnamese market is a continuous growing market. In addition to the second group of industries (manufacturing and processing industries), enterprises will expand into other sectors such as the first industry group (agriculture sector) and the third industry group (service industries).

Japanese side affirmed that they would continue to support Vietnam in implementing the plans of the 6 selected industries in order to accelerate Vietnam’s industrialization and modernization process. Basically, direct investment from abroad will boost domestic industry and boost economic growth. Of course, if foreign economic relations accelerate, the ability to create new business opportunities will be greater, while stimulating the domestic consumption market. Therefore, through the receipt of investment from abroad, the building of mutually beneficial relationship is necessary.

Increasing investment from Japan in 6 areas (especially electronics, food processing and car accessories) is the focus for accumulation of supporting industries. This is expected to contribute to the nurturing of Vietnamese enterprises. Moreover, JETRO will continue to contribute to the development of supporting industries in Vietnam by organizing annual supporting industry exhibitions.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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