Binh Duong innovates, builds up a new development ecosystem

At the program "Binh Duong: Launch - connect - develop new" organized by the Provincial People's Committee and Becamex IDC, Deputy Prime Minister Le Minh Khai asked Binh Duong province to study and transform the development model from industry - urban - service to intelligent industry - urban - service, combined with science, technology, and innovation to stimulate the construction of a new ecosystem.

Deputy Prime Minister Le Minh Khai together with leaders of Central ministries and branches, leaders of Binh Duong province, and other provinces and cities listened to representatives of Vietnam - Singapore Industrial Park Limited Liability Company (VSIP) introducing about the development model of VSIP.

Suitable model

Speaking at the opening of the program, Vo Van Minh, Deputy Secretary of Binh Duong Provincial Party Committee, Chairman of Provincial People's Committee, affirmed that on the basis of friendship and economic cooperation between the Governments of Vietnam and Singapore, Binh Duong has fortunate to meet great partners with extensive experience in implementing projects, as well as attracting and promoting industrial investment on a global scale. Since then, the province formed a model of industrial - urban - service development with fine-tuning in accordance with local characteristics, is the guideline of the province over many periods. This is a model of comprehensive development, builds a complex of industrial parks intertwined with the urban system. Since then, the province promoted industrial development and attracted investment to become a lever to consolidate and comprehensively develop socio-economic and urban areas, creating a good living environment to serve the diverse population, aiming at the highest goal that all groups enjoy common fruits of this development.

The Chairman of Provincial People's Committee emphasized, with the bridge of the Governments of Vietnam and Singapore, by the cooperation between Sembcorp Group and Becamex IDC, Vietnam - Singapore Industrial Park Limited Company (VSIP) formed and has developed remarkably, with typical meanings, heavily illustrating the industrial - urban - service development model of the province. "VSIP brand" has continuously made many important contributions not only to the socio-economic development of Binh Duong province but also to many provinces and cities across the country.

“Due to new and increasingly strict requirements of the market, in order to find the motivation to overcome the middle-income trap, Binh Duong has been reshaping the development model with major orientations, such as transforming the development model, from industrial - urban - service to intelligent industry - urban - service, including upgrading existing industrial parks as well as building new green and smart industrial parks with ability to provide 4.0 technology platform", said Vo Van Minh.

Speaking at the event, Deputy Prime Minister Le Minh Khai emphasized: Binh Duong has full potential, advantages, and good conditions to fulfill requirements set by the Politburo and the Government, aims to become a center of knowledge, economy - finance, industry - urban - modern services of the region".

With the success with the industrial - urban - service model, to help investors easily deploy the smart factory model, smart production, the Deputy Prime Minister suggested Binh Duong province study the transformation of development model to promote the construction of a new ecosystem, supplement the existing ecosystem in accordance with new requirements from investors and employees. Binh Duong's dynamism, responsiveness and creativity have contributed to increasing labor productivity in the province, attracting and moving to a higher segment in the industrial value chain.

Cooperation for development

At the program, Binh Duong Provincial People's Committee awarded investment certificates to five FDI projects worth 176.1 million USD and one project worth 120 billion VND of domestic investment. Especially, this time, BW Industrial Development Joint Stock Company successfully called for investment capital of 300 million USD from international investors, increasing the total investment capital in Binh Duong from 600 million USD to 900 million USD, becoming one of the largest FDI investors in Binh Duong.

Leaders of the Government and Binh Duong province witnessed the signing ceremony of a memorandum of understanding on research and development cooperation between VSIP Group and other provinces and cities.

Also at the event was a signing ceremony of a memorandum of understanding between Binh Duong Provincial People's Committee and Sun Group in fields of digital transformation, tourism development, entertainment, real estate, and infrastructure investment. The Provincial People's Committee also signed a memorandum of understanding with FPT Joint Stock Company on comprehensive digital transformation, developing digital platforms for multi-way interconnection, improving management effectiveness and efficiency, towards digital government, digital transformation.

At the program, the Vietnam - Singapore Industrial Park Joint Venture Company (VSIP Group) signed a memorandum of understanding on research and industrial development cooperation with provinces and cities of Tay Ninh, Binh Thuan, Thai Binh, Nam Dinh, Ha Tinh, Binh Phuoc, Khanh Hoa, Thua Thien Hue, and Thanh Hoa. This is a premise for the parties to implement in detail soon. At the program, Becamex IDC signed a strategic cooperation agreement with Deo Ca Group on the development of transport infrastructure in the coming time, this is one of the leading investors and builders of transport infrastructure in Vietnam.

Speaking at the signing program, Vo Van Minh, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee, expressed confidence in the cooperation agreements, signing memorandums of cooperation between People's Committee of provinces and corporations will be a very useful and important opportunity for Binh Duong and other provinces and cities, partners, investors to jointly evaluate the achieved results, share good experience, and spread successful development models and set out new cooperation directions in the coming time.

Deputy Prime Minister Le Minh Khai: “I appreciate the way Binh Duong chooses and transforms its development model, creatively applies international models into the reality of Vietnam and Binh Duong alone, especially this model has spread to many other provinces and cities across the country. This proves the correctness of the development model, which is essential for the general development of the country.

Reported by Phuong Le - Translated by Ngoc Huynh