Binh Duong highly attracts investment, effective production and business

 Binh Duong is further strengthening its land fund for industrial park development. With many solutions such as improving the business environment, accompanying investors and businesses, focusing on improving infrastructure etc., industrial parks continue to be the area that creates the driving force for Vietnam's economic growth.

With many effective solutions to accompany businesses, enterprises in the province's industrial parks continue to develop production. In photo: Production activities at Bonfiglioli Vietnam Company

 Overcome growth difficulties

2023 is a year with too many challenges as businesses face lack of orders, poor liquidity, moderate exports... However, Binh Duong continued to be named in the top provinces and cities with the highest amount of FDI capital and exports of the country. According to Truong Van Phong, Deputy Head of Provincial Industrial Parks’ Management Board, in 2023, although affected by difficulties of the global economic situation, with many positive support solutions from the province, efforts to overcome difficulties of enterprises, production and business activities in the province's industrial parks maintained stably, utilized advantages and achieved good results.

As a result, in 2023, the revenue of enterprises in the industrial parks reached US$36,166 million, export turnover reached US$25,121 million, and import turnover reached US$20,749 million. Industrial parks attracted domestic investment of VND6,033 billion, reaching 548% of the plan, attracted foreign investment reached US$1.22 billion, down 54.8% year-on-year, reaching 111% of the plan.

Currently, the production and business situation of enterprises in the industrial parks is entering a positive recovery phase, the manufacturing and processing industry is developing again, continuing to meet the needs of the domestic market and export, contributing to the overall growth of the province. Accumulated by now, Binh Duong Industrial Parks has 3,080 valid projects, including 2,400 FDI projects with a total registered investment capital of nearly US$29 billion and 680 domestic investment projects with total registered investment capital of VND93,576 billion.

In order to create favorable conditions for businesses and investors to come to industrial parks to survey and seek investment opportunities, in recent times, the Management Board of Provincial Industrial Parks together with competent departments and branches have regularly organized meetings and conferences with businesses and investors from countries, such as Korea, China, Japan, Singapore, America, Europe... Through investment promotion programs, industrial parks continued to introduce their potential and competitive advantages, mechanisms and policies to attract investment into industrial parks. In addition, Management Board of provincial IPs has actively reviewed and simplified administrative procedures to reduce troubles for investors of industrial parks.

The province also promulgated many preferential policies and mechanisms to support investment in industrial parks in the area; At the same time, actively supported and removed difficulties regarding land legal procedures for secondary investors in industrial zones. With many positive and effective solutions to accompany businesses, enterprises in all industrial parks of the province still maintain the rhythm of production and business, creating added value of products, contributing to economic growth of the province.

Increase investment attraction

According to investors, Binh Duong has a pretty good planning vision as the infrastructure is continuously being built and increasingly improved, connects with the southern key economic region through National Highway 13, My Phuoc - Tan Van... Most industrial parks in the province are planned and oriented towards modern, high-quality construction.

To increase competitiveness, Binh Duong is focusing on attracting investment into planned industrial parks. According to provincial leaders, with planning orientations, the province is dedicating 20,000 hectares for urban development and 25,000 hectares for industrial development. Currently, the province is preparing a provincial plan for the period 2021-2030, with a vision to 2050. It is expected to continue new investment and expansion of existing industrial parks but towards higher standards of science, technology, environmental protection, focusing on attracting occupations that bring high added value.

To adapt to the new context, the province is building and developing industrial parks in a more specialized direction to attract increasingly quality and effective investment capital. Truong Van Phong, Deputy Head of Provincial Industrial Parks’ Management Board, said that Binh Duong is forming many preferential policies and mechanisms to support investment in industrial parks in the area; At the same time, actively support and remove difficulties regarding land legal procedures for secondary investors in industrial zones. With many positive and effective solutions to accompany businesses, such as improving the business environment, perfecting infrastructure... turning industrial production into a driving force for growth, contributing to fulfilling key targets in 2024.

 Reported by Triet Nhan - Translated by Ngoc Huynh

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