Breakthrough from Ips

Thanks to the attention, support of the province plus the efforts by the local administration, Ben Cat town has reached fast economic growth with many large-scale industrial parks (Ips) put into operation, opening up opportunities for it to develop.

Absorbing investment projects

With fast modernization and industrialization speed, Ben Cat town has absorbed investors at home and abroad. For example, South Korea’s Orion Vina Food Co.Ltd. in the My Phuoc IP 2 has a total investment capital of US$70million. Its products are exported to 49 countries worldwide with the annual revenue of US$30million. Or, Kaiser Woodwork Industry Co.Ltd. of Taiwan (China) in the My Phuoc IP 1 has a total investment capital of US$70million with 6,000 laborers. The company’s annual revenue is estimated at VND100million and above. The company is expanded its workshop of over 20 hectares in the Rach Bap IP. Once being operational, the project will generate jobs for more than 3,500 laborers, significantly contributing to the local socio-economic development.

Production of Punch Industry Manufacturing Vietnam Co.Ltd. in the My Phuoc IP 2 in Ben Cat town

In the town, there are also many projects operating effectively with great capital. They include the car tyre making factory of South Korea’s Kumho Asiana Kumho Corporation with a total investment capital of more than US$360million; Huge Bamboo Textile Industry Co.Ltd.; Bibica Eastern Co.,…

Facilitating enterprises’ development

Thanks to having many advantages in terms of infrastructure, geographical position and administrative reform, Ben Cat town over the past time absorbed more investors, greatly contributing to the local economic growth in the period of 2015-2017 at 21% per year.

Masaaki Takida, Chairman of Punch Industry Corporation said that many Japanese enterprises have spoken highly of Binh Duong province’s investment climate. He added that leaders of the town has also created favorable conditions for the corporation to develop its branch, Punch Industry Manufacturing Co.Ltd. in the My Phuoc IP 3.

Possibly seeing, the town has concentrated on constructing Ips as the foundation for breakthrough. Town-based Ips now has a modern and synchronous infrastructure system with connected traffic through major streets, namely the national highway 13, DT744, Tan Van-My Phuoc, DT748…, facilitating enterprises’ development.

The town has also attached special importance to administrative reform; coordinated with Becamex IDC to create “clean” land fund for investors; made efforts in social welfare issues relating to education, healthcare and housing for laborers; mobilized all economic sectors to take part in the local urban development…

The effective absorption of town-based Ips has greatly contributed to the local evolution, thereby generating jobs for laborers in and out of the locality, increasing the local revenue…The development of Ips plus modern urban areas zoned in a synchronous way has created a motivation for the local trade-service sector to foster, contributing to the local comprehensive socio-economic development.

The town is now home to 8 Ips of 4,030 hectares, 1 concentrated production area in Tan Dinh ward with 47.7 hectares. So far, they have been fully covered by investors, generating jobs for around 160,000 laborers. The whole town has absorbed 3,249 projects, including 2,679 domestic projects totaling VND28trillion and 570 FDI ones with a total registered capital of US$6.1billion.

Reported by Thoai Phuong-Translated by K.T