Bau Bang boosts investment attraction

Under a target of striving to soon become an urban-industrial hub in the northern region of the province, which was set out by the local Party Committee Congress for 2015-2020 tenure, in the last months of 2015 and early 2016, Bau Bang district has concentrated on building infrastructure facilities and carrying out preferential policies on calling for investment.

Focusing on infrastructure construction

Bau Bang district is located in the northern region of the province with an important traffic route having highway 13 going through, connecting with Binh Phuoc’s Chon Thanh district and there is an abundant land fund. All are advantages for the district’s urban and industrial development.

P Bau Bang urban and industrial park has reached perfection in terms of infrastructure, well meeting needs of domestic and foreign investors. 

Nguyen Huu Chi, Secretary of Bau Bang district’s Party Committee said that under the adjustment of provincial master plan for socio-economic development to 2020 and supplement to 2015, in which the province will attach special importance to industrial development in the northern region, the district has bent on perfecting Bau Bang industrial park (IP)’s infrastructure, had good preparations to meet requirements of investors in the district’s 300-hectare auxiliary IP when the Trans-Pacific Strategic Economic Partnership Agreement (TPP) takes effect.

To realize the above target, Bau Bang district has coordinated with Thu Dau Mot Water Joint Stock Co. to build the 17-hectare Bau Bang water plant in Bau Bang IP. The project comprises of 2 phases with designed capacity of 30,0000 cu.m per day and total investment capital of VND750bln. Its phase 1 is expected for completion within a year.

Construction of the My Phuoc-Bau Bang main street was also started with total length of 10.9km. Once being completed, it will create a driving force for Ben Cat town and Bau Bang district’s urban-industrial development while connecting Binh Duong with other localities in the southern key economic zone. This will help shorten goods transport time, contributing to dealing with traffic jam and helping investors in Binh Duong save their costs.

Open investment climate

With well-built infrastructure, favorable geography plus preferential policies, the newly-established Bau Bang district has quickly become a destination for domestic and foreign investors. Vo Thanh Giau, Vice-Chairman of Bau Bang district’s People’s Committee said that along with infrastructure investment, the district has put a focus on administrative reform; coordinated with sectors at provincial and district levels to solve investors’ queries in the soonest time. The district has also called for investors to get involved in fields like banking, supermarket business…to make up the local synchronous development at investors’ demand.

 With such efforts, the district last year absorbed 40 investment projects, including 35 foreign direct investment projects capitalized at over VND44.9bln and 5 domestic ones totaling US$307.7mln. Many projects with great capital include the Taiwanese-invested Polytex Far Eastern Co.Ltd. with more than US$274mln; the Taiwanese-invested Active International Co.Ltd with nearly US$250mln…

Together with the adjustment of provincial plan for IPs development, in which Bau Bang district has been allowed to increase Lai Hung industrial park’s area from 400 hectares to 600 hectares, Cay Truong IP’s area from 300 hectares to 700 hectares, the signing of the TPP by trade and economy ministers from 12 member nations on Feb.4 is seen as a great motivation for the district to set a target of striving to soon become an urban and industrial hub in the northern region of the province.

Among investors just granted licenses by provincial People’s Committee, there are 3 in Bau Bang IP. They include Chain Yarn Vietnam Co.Ltd.; De Liacy Vietnam Industrial Co.Ltd. and Titan Vietnam Co.Ltd. with total investment capital of US$227mln.

Reported by Hoang Pham-Translated by K.T