To create new attraction for industrial areas

 As a province with robust industrial development pace, Binh Duong is now a sought-after destination for newly established manufacturers. Binh Duong has a solid foundation for developing manufacture, including a synchronous infrastructure system and well-established administrative procedures to assist the operation of enterprises.

Industrial infrastructure in Binh Duong is markedly comprehensive, which is very convenient for businesses to develop production and business. In photo: A corner of VSIP 2 industrial park.

 According to Management Board of Provincial Industrial Parks (IPs), the whole province now has 29 IPs with an area of 12,743 ha, land lease rate reaches 82.9%, and 12 industrial clusters with a total area of 790 ha, land leasing rate reaches 67.4%. In particular, many IPs have become a characteristic helping Binh Duong attract investment of many large enterprises and multinational corporations. Investors of IPs and secondary investors have carried out infrastructure and factory construction with a total capital of more than VND5,954 billion, leased lands and factories with a total area of 41.6 hectares.

It can be seen that the current land fund of industrial parks in Binh Duong has reached a high occupancy rate. In the coming period, the investment attraction into industrial zones of the province would have good changes, be more substantive, more selective in the direction of specialization, ecology, intelligence, and will create a new attraction. Therefore, existing and new industrial parks need solutions to improve their competitiveness to take advantage of the increasing demand. Businesses will pour their investment in where there is a good investment environment, favorable, clear, and stable regulation. Therefore, creating all favorable conditions with many supporting mechanisms will attract investors.

Nicolas Audier, President of EuroCham, confirmed that the number of requests from EU customers was increasing while waiting for the Vietnam-EU Free Trade Agreement (EVFTA) to be signed. EVFTA is predicted to attract the attention of investors from Europe. In recent years, by facilitating the application of the latest production technologies and increasing human resource training, the Vietnam Government is gradually eliminating enterprises' concerns about feasibility, or the lack of human resources and cost increase. The improvement of transparency of business environment helps reduce investor concerns and improve production quality standards in Vietnam.

To welcome the new generation of FDI capital, many businesses have invested in developing industrial factories and warehouses in Binh Duong. For example, Becamex IDC and its partners have fully improved infrastructure for 5 IPs, including My Phuoc 1, 2, 3, Thoi Hoa and Bau Bang. In addition, with the cooperation of global brands such as Warburg Pincus, Sembcorp etc., Binh Duong is becoming an attraction to investors. Becamex IDC also cooperates with businesses, organizations of Korea, the Netherlands, and Singapore to build a science and technology industrial park and a 4.0 smart production center in Binh Duong, opening an innovative ecosystem.

Nguyen Van Hung, Chairman of Becamex IDC, affirmed that European and American investors required very high quality of infrastructure, accompanying services. Therefore, in order to take advantage of this opportunity, enterprises must meet the requirements of infrastructure, wastewater treatment systems, and especially environmental issues. Becamex IDC built up not only IPs, but also industrial ecosystems, urban areas and associated services. Even soft infrastructures, such as social housing for workers, site clearance and compensation, cultural services, sports, health care, vocational training, have been developed in industrial parks.

South Tan Uyen Industrial Park Joint Stock Company is also investing and constructing IPs in Binh Duong. South Tan Uyen Industrial Park was licensed by Provincial People's Committee in 2005, with an initial total area of over 331ha. This IP is expanded to 966ha. South Tan Uyen and its expanded project of phase 1 has basically been filled. Currently, this company is gathering resources to deploy phase 2 and invest in remaining items of South Tan Uyen Industrial Park, South Tan Uyen 2 and 3...

Tran Thanh Liem, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee, said industrial parks and clusters are an important element, contributing positively to the province's industrial development process. Currently, the province is implementing the roadmap for a smart city building with major development orientations, such as attracting domestic and foreign investment in industries with high technology, high added value, and less labor intensive, environmentally friendly; accelerate the deployment and investment in infrastructure construction of industrial parks and complexes according to planning; research to form industrial-urban science and technology zones; continue to convert functions and relocate enterprises into industrial parks and clusters in the province.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh

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