Being proactive to create absorption for Ips

Binh Duong province now has a modern and synchronous infrastructure system. The province has been among the country’s top localities in terms of Provincial Competitiveness Index (PCI), Public Administration Reform Index (PAR Index) and many other indexes in succession. Along with this, the province has selectively attracted investment projects in the right direction. Province-based industrial parks (IPs) have actively paved the way for enterprises ‘investment with attractive points.

Synchronous infrastructure

With a synchronous system plus administrative reform, province-based IPs has always got ready to welcome new investors. Bui Minh Tri, Head of provincial IPs Management Board said that the province now has a modern and synchronous infrastructure system. The province has been among the country’s top localities in terms of Provincial Competitiveness Index (PCI), Public Administration Reform Index (PAR Index) and many other indexes in succession. All are the advantages of the province, helping create the favorable investment climate.

A glance of VSIP 3

Especially, since early this year, the province has still welcomed new investment projects from foreign investors with prestige in terms of manufacturing and processing amid the complicated development of Covid-19 pandemic. They include the project of Singapore’s Sung Shin Tech Limited with total registered capital of US$30million in the Tan Dong Hiep B IP; the project of Singapore’s Ever Giant International Private Limited with total registered capital of US$20million in the Bau Bang IP…This is seen as a positive sign in investment attraction in the new context.

At a seminar on promoting Japanese investment in the province just held by Japan’s Osaka Chamber of Commerce and Industry in partnership with Vietnamese Investment and Industrial Development Corporation (Becamex IDC), provincial IPs’Management Board introduced potentials and competitive advantages of the province as well as mechanisms and investment policies for foreign investors in the local IPs. Accordingly, the whole province is home to 29 IPs with 12,743 hectares with the rate of land tenancy at 83% and 12 industrial compounds with the rate of land tenancy at 67.4%. Among them, many IPs have become the trademark of the province, helping absorbing many multinational corporations. Investors of province-based IPs have so far spent more than VND5.95trillion on building workshops, infrastructure facilities with 41.6 hectares of land, workshop for rent.

Lever of development

Province-based IPs have taken solutions to improve competitiveness, absorbing more investment projects. Pham Ngoc Thuan, General Director of Becamex IDC affirmed that investors from Europe and the US have high requirements in terms of the quality of attached infrastructure facilities and services. Becamex IDC and its partners have so far had sufficient preparations for infrastructure facilities of five IPs, namely My Phuoc 1, 2, 3, Thoi Hoi and Bau Bang. Becamex IDC has also joined hands with the province to further improve major streets like highway 13, My Phuoc-Tan Van expressway, DT743…; strengthened traffic connectivity with the southern key economic zone; attached special importance to developing “soft” infrastructure facilities like social housing areas for laborers; supporting locals to get access to services in terms of culture-sports-healthcare…

Mai Hung Dung, Permanent Vice-Chairman of provincial People’s Committee stressed that over the past time, the province mobilized all resources to perfect infrastructure facilities, foster industrial parks-compounds for inter-regional traffic connectivity, meeting the requirements of domestic-foreign enterprises ‘production-business. Upon this, the province absorbed large-scale projects in line with the province’s orientations on attracting investment, promoting some key industries like manufacturing, processing…Province-based IPs also contributed to promoting the local industrial manufacture, creating the premise for urban, trade-service development.  They also contributed to generating jobs for laborers and helping the province reach deep integration into the world’s economy. The province has still always made efforts in improving the local investment climate, creating all favorable conditions for foreign investors to work effectively. The success of enterprises is also the success of the province.

In the 2015-2020 period, province-based IPs have helped the local economy gain rapid development with industrial manufacture and services accounting for 66.53% and 22.78% in the local economic structure. The local economy has been developed under the plan, ensuring the harmony between the growth targets.

Reported by Ngoc Thanh-Translated by K.T

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