Sharp Corporation - Japan increases investment in Binh Duong manufacturing

DNHN - Mr Mai Hung Dung - Member of the Standing Committee of the Provincial Party Committee, Standing Vice Chairman of the Provincial People's Committee recently received and worked with the delegation of Sharp Corporation - Japan, led by Mr Hashimoto - Chairman of Sharp Corporation, who came to discuss the investment expansion plan in Binh Duong province.

Mr Hashimoto, Chairman of Sharp Corporation, discussed the Group's potential, business strategy, and future investment direction briefly during the meeting. According to Mr Hashimoto, Sharp Group is investigating investment potential in the southern provinces of Vietnam, especially Binh Duong, to transfer the supply chain away from the Chinese market, therefore enhancing market diversity and reducing distribution risk.

Under Sharp's requirements, Mr Hashimoto determined that Binh Duong is a location with a favourable investment climate; hence, the Group has two production facilities situated in Vietnam - Singapore Industrial Park (VSIP) (I) and VSIP (II) expanded. Specifically, Sharp will continue to increase its investment and construct an additional large-scale plant geared toward the development of high-tech and sophisticated goods, such as the production and processing of electrical products. Electronics, high-tech components, smartphones, domestic electronics and electrical appliances manufacture, health goods...

With this growth strategy, Sharp Group anticipates that the province of Binh Duong would give the necessary construction land money, manpower, and workforce, as well as a fully integrated transit infrastructure. Simultaneously, the government is anticipated to evaluate tax incentives and investment and construction expenses.

Mr Hashimoto thanked the leaders of Binh Duong for their attention and assistance with the Group's manufacturing efforts during the last year. He hoped that he would continue to get assistance from the province so that Sharp Corporation could increase its business scale with high efficiency and contribute positively to the socio-economic development of the province.

Vice Chairman of the Provincial People's Committee of Binh Duong - Mai Hung Dung - commended Sharp Corporation's decision to extend its investment size in Binh Duong. Sharp is a long-standing and respected market brand; consequently, the provincial authorities of Binh Duong are delighted to welcome the Group.

Regarding Sharp Corporation's plans, the Vice Chairman of the Provincial People's Committee said that Binh Duong has developed 29 industrial zones with a total planned area of 12,662.81 hectares. There are two IPs, VSIP III and Cay Truong Industrial Park, with a combined land size of 1,700 hectares that are constructing infrastructure to attract investment. 

In addition, additional industrial zones, such as Rach Bap Industrial Park and Nam Tan Uyen Industrial Park, are undergoing growth activities. Industrial zones and clusters in Binh Duong have prepared around 3,000 hectares of land for attractiveness. invest.

Binh Duong continuously improves the investment environment, enhances competitiveness, and strengthens support for the development of investment enterprises in the province by completing the socio-economic infrastructure system, including communication, water supply, electricity, environmental treatment, and simplification of administrative procedures; deploying human resource training, building social housing, housing for workers, and providing sufficient and timely labour resources for enterprises.

Regarding tax benefits, if the Group's project is certified as a high-tech application project on the list of high-tech priorities for development investment under the terms of the Law on High Technology or enterprise law, the Group will be eligible for tax incentives. If a business is recognized as a high-tech firm by the appropriate body, it will get tax benefits. During the application procedure for high-tech certification, the provincial government of Binh Duong will assess and, where appropriate, assist.

Mr Mai Hung Dung stated that Binh Duong province is constantly innovating to create an open investment environment, creating the most favourable conditions for investors operating in industrial zones, and contributing to the development of Binh Duong's image as an investor-friendly, dynamic, attractive, and dependable location.

Hoang Thu