Ready to welcome the "wave" of investment from the EU
- Thursday - 15/08/2019 08:42
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After the Free Trade Agreement (EVFTA) of Vietnam-EU Investment Protection Agreement (EVIPA) was signed, many economic experts predicted that there would be a "wave" of investment from countries and from Europe into Vietnam. With many advantages, Dong Nai will be one of the destinations chosen by many foreign businesses.
Production of export aircraft components at Meggitt Vietnam Co., Ltd. in Bien Hoa 2 Industrial Park (Bien Hoa City) for export to the EU and many other countries.
According to the Department of Planning and Investment, EU enterprises have invested in Dong Nai with nearly 120 projects with a total registered capital of over $ 1 billion. The main investment sector is industrial production. Recently, many businesses from EU have continuously expanded production to catch up opportunities from EVFTA, EVIPA.
* Investment from the EU may increase sharply
Not only export opportunities, the signing of 2 EVFTA and EVIPA agreements also help Vietnam to increase opportunities in attracting foreign investment, especially from the EU. About 2 years ago, a number of EU corporations continuously invested in Dong Nai such as Bosch, Meggitt, Schaeffler...
Mr. Georg F.W. Schaeffler, President of Schaeffler Group (Germany) said: “We specialize in manufacturing all kinds of bearings and industrial components for many types of machines and equipment. Recently, we continue to invest more than 45 million euros to expand the factory in Amata Industrial Park (Bien Hoa City) and apply 4.0 technologies in production to meet orders from many countries ".
Schaeffler Group plans to continue expanding investment in Dong Nai when EVFTA and EVIPA take effect. In addition, a number of large EU corporations in modern industrial sectors including parts manufacturing for cars, airplanes, and western medicines have also set up factories in Dong Nai.
Mr. Tran Quang Hung, General Director of Meggitt Vietnam Co., Ltd. in Bien Hoa 2 Industrial Park (Bien Hoa City) said: “The company plans to continue to expand production in Dong Nai to supply equipment. For major aircraft manufacturers in the world. When EVFTA and EVIPA come into effect, many EU enterprises will enter Dong Nai to produce and export because the investment environment will be more favorable. ” For a long time, EU enterprises were very interested in Vietnam's investment policy and environment, so when EVIPA was signed, it was also the commitment of the Vietnamese Government to create a fair and favorable investment environment. benefits for businesses to maximize their capabilities.
EVFTA, EVIPA are expected to be expected by many FDI enterprises in Vietnam and domestic enterprises. Therefore, in addition to the wave of EU enterprises investing in Vietnam as well as Dong Nai, FDI enterprises from other countries also see great opportunities when entering Vietnam to invest.
* What are the advantages for Dong Nai?
Dong Nai is home to the industrial development, complete industrial park infrastructure, concentrating many important traffic hubs such as roads, railways, waterways and coming here to be aviation. Therefore, when investing in the province, FDI enterprises easily find partners to supply input products and goods transportation smoothly. Dong Nai will be one of the places to welcome the most investment waves, especially when the Long Thanh International Airport project comes into operation in the first phase. Although the province is ahead of the country for more than 5 years on attracting the head FDI is selective, but every year FDI flows into the province exceed the 50-70% plan.
Vice Chairman of the Provincial People's Committee Tran Van Vinh assessed: "FDI enterprises choose Dong Nai to invest a lot because the province has advantages in transportation, climate and soil. In the province, there has never been a natural disaster causing damage to industrial production. The land of the province is quite hard to help businesses build factories quickly and save much costs”. Also according to Vice Chairman of the Provincial People's Committee Tran Van Vinh, Dong Nai implemented the policy of accompanying enterprises, difficulties will be promptly removed for efficient production and business enterprises.
According to Mr. Chung Min-chul, South Korean Deputy Consul General in Ho Chi Minh City, with many signed trade agreements in force, Vietnam will be the destination of many Korean businesses as well as countries. and other territories. About 3 years ago, Korea led the way in investing in Dong Nai with over 6 billion USD in anticipation of trade agreements, including EVFTA..