Attraction from smart city

A production line at PTR Vietnam Company (Vietnam - Singapore Industrial Park).

According to experts, smart city construction of Binh Duong according to “Triple Helix” model in order to form a close and effective cooperation mechanism among local governments, businesses, and people to attract smart projects around the globe. This approach will contribute to creating synergy, breakthrough and bringing harmonious benefits to the parties in the development process; creating a premise for Binh Duong to deeply integrate into the world.

New forces and powers

Frank-Jürgen Richter, Chairman of Horasis, said the development of a smart city was the essential path, and Binh Duong was having a good start as a member of Intelligent Community Forum (ICF) as well as was actively cooperating with Eindhoven city (Netherlands).

In addition, WTA’s membership helps Binh Duong to develop less-developed regions and areas, strengthen bilateral and multilateral cooperation through exchange activities between scientific cities in the world. Joining WTA will contribute positively to common prosperity through scientific and technical advances, which are particularly important in the construction process of Binh Duong smart city. “With the determination of provincial leaders, smart city construction will introduce Binh Duong to global investors. Binh Duong is in the best position to welcome foreign investors”, said Frank-Jürgen Richter.

According to Dr. Nguyen Viet Long, Director of Binh Duong Smart City Office, Binh Duong smart city construction project has gained significant results. Specifically, units in the province have actively realized many new ideas, specific projects with practical efficiency in different scales. The province is forming a flexible and transparent Triple Helix cooperation mechanism to operate more effectively in terms of not only the overall scale but also operation mode of specific projects.

Binh Duong has a great advantage that companies are mainly in industrial parks. Besides, the province is directing sectors to promote the creation of innovation centers, enterprise databases, and information portals on regional supply chains; building supporting industries, science and technology industrial parks, and business incubators with international models. The province will also aim to create an innovative entrepreneurial ecosystem and supply chain network with solid, capable, well-integrated suppliers and be ready to attract many high-tech foreign investors. .

Destination of investors

With modern infrastructure and transparent, flexible, attractive policies to attract investment, Binh Duong has been a reliable destination for foreign investors in recent years. In industrial development, the province chooses a breakthrough strategy, which is to build infrastructure of industrial parks in combination with urbanization.

Provincial leadership’s consistent view is to build industrial zones to create a driving force for socio-economic growth. Therefore, the province has created a large clean land fund to develop industrial park infrastructure. At present, the whole province has 29 industrial parks, of which many industrial parks such as Vietnam - Singapore, My Phuoc, Song Than ... have become prestige brand names that attract large and multinational corporations to invest.

With more than 140 Japanese investors, Binh Duong is currently the leading locality in the country in terms of the number of Japanese investors. "Due to an improved investment and business environment, Binh Duong is the first choice for Japanese businesses to invest in Vietnam", said Hideyuki Okada, Chairman of Japanese Businesses Association in Ho Chi Minh City.

According to Japanese Consulate in Ho Chi Minh City, Japanese businesses in Binh Duong are increasing not only in quantity but also in investment scale. Currently, Japan is investing nearly 300 projects with a total registered capital of more than 5.2 billion USD. There are some outstanding investment projects of Japan in Binh Duong, such as Tokyu Binh Duong Urban Area of Real Estate Business Project of Tokyu Group with a total investment of 1.2 billion USD; a project of manufacturing electronic components and devices, Wonderful Saigon Electrics Company with a total capital of 450 million USD...

Mr. Jeffrey Fielkow, CEO of Tetra Pak Company, invested in a factory of €120 million in Vietnam - Singapore 2 Industrial Park, said that when looking for investment opportunities in Asia, his group chose Binh Duong, because this place met their requirements. Namely, Binh Duong has strong development potential, open investment attraction policy, abundant labor force; more importantly, the strategic vision of provincial leaders...

“The €120 million investment in a factory in Binh Duong is a strong testament to our long-term commitment to this land. The factory in Binh Duong is our most modern production facility. This one inherits technologies from more than 60 years of global manufacturing experience, with LEED Gold Certification Version 4 globally recognized”, said Jeffrey Fielkow.

Tran Thanh Liem, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee, affirmed that Binh Duong is becoming a worthy and worth-investing place. This not only comes from the inheritance or natural conditions. Modern Binh Duong today was developed by the long-term vision of many generations of provincial leaders, along with the efficient and sustainable investment of the province.

Reported by Tieu My – Translated by Ngoc Huynh

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