Investment absorption from northern region

Update: 12-07-2017 | 10:00:38

Over the past time, Binh Duong promoted FDI attraction into industrial parks and compounds in the northern region. This is a sound policy of the province to realize modernization and industrialization in the rural region.

Robust growth in FDI capital

Thanks to the efforts by provincial leaders, industrial parks (Ips) in the northern region of the province continuously received interest from investors over the past time. My Phuoc Ips 1, 2, 3 and 4 have to date absorbed nearly 500 FDI projects capitalized at more than US$3.5billion. Many with great capital include Kumho Asiana Corporation with US$360million; Maruzen Foods Corporation with US$104million; Graft Paper Vina Company with US$180million…

A glance of Bau Bang Urban-Industrial Zone

With the high expectation of creating a breakthrough for the northern large rural region of the province, Bau Bang district has so far lured a total of 82 FDI projects totaling US$2.1billion. Among them, there are some with great capital such as Polytex Far Eastern Co.Ltd. of 99 hectares with the investment capital for the phase 1 at more than US$274million…

Le Khac Tri, Chairman of Bau Bang district’s People’s Committee said that over the past three years, the district drew 248 domestic projects with more than VND10.44trillion and 32 FDI ones with more than US$1.38billion. Signing memoranda of understanding between the district and partners also proved the local potential in investment attraction. Particularly, Becamex IDC signed memoranda of understanding with major investors in the expanded Bau Bang Urban-Industrial Zone.

Along with expanding the Bau Bang Urban-Industrial Zone by 1,000 hectares, Bau Bang district has planned to continue expanding by 1,300 hectares in Lai Hung and Cay Truong communes under the adjustment of planning for province-based Ips till 2020 approved by the Government. The district is also submitted a project on expanding Tan Binh IP by 1,055 hectares in Tan Hung and Hung Hoa communes into relevant agencies for approval.

Creating favorable conditions for investors

Together with My Phuoc and Bau Bang Ips, the birth of others namely Singapore Ascendas Protrade, Viet Huong 2, Tan Binh, Bau Bang and industrial compounds Tan My, Tam Lap, Thanh Tuyen…in the northern region of the province has contributed to creating large “clean” fund with well-built infrastructure in order to welcome investors.

Tran Thanh Liem, Vice-Chairman of provincial People’s Committee affirmed that forming up concentrated Ips in Binh Duong in general and in the northern region of the province in particular has helped strongly lure capital for the local industrial development under the plan, ensuring harmony between the local targets on socio-economic development and environment.

In the coming time, the province will continue mobilizing all resources for industrial development; strengthen administrative reform, build a synchronous technical infrastructure system and develop a traffic system with the regional connectivity; raise the quality of services at investors’ need…

Reported by Khanh Vinh-Translated by K.T

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Investment absorption from northern region

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