Binh Duong Innovation Region – A breakthrough

At the beginning of the 2021-2025 period, with the explosion of science and technology and new business models, new opportunities after the Covid-19 pandemic, Binh Duong is determined to continue making breakthrough, elevating the Binh Duong Smart City project to a higher level of development, which is the Binh Duong Innovation Region.

A signing ceremony of Binh Duong New City project between Becamex IDC and CapitaLand Group.

Vision and strategy

Becamex IDC has been delegated by provincial leaders to coordinate with agencies, departments, international partners, and experts from developed countries to implement the Binh Duong Innovation Region project, which is a multi-directional expansion of the Binh Duong Smart Economic Zone.

Binh Duong Innovation Region is the central work in the construction of the next phase of Binh Duong Smart City. This is an integrated breakthrough project, in which Binh Duong New City is the ground to start and redirect development to industrial parks of the future, namely Bau Bang Industrial Park. Science and Technology Industrial Park will be a breakthrough project that is fundamental for the formation of an innovation ecosystem that will attract human resources and high-tech investment from strategic manufacturing industries of the region, plays the role of industrial linkage, along the main traffic axis My Phuoc - Tan Van - Bau Bang connecting to the New City.

Nguyen Van Hung, Chairman of Becamex IDC, said: "The Binh Duong Innovation Region project is expected to create leverage, stimulate and build the foundation for an innovation ecosystem, more broadly, a sustainable innovation culture, helping Binh Duong build an attractive environment for start-ups, technology companies, continue to participate in prestigious economic organizations in the world. Then, it will upgrade the existing manufacture, create new production tools and develop uniformly across all aspects of social life, gradually increase the proportion of the digital economy in the economy."

Cooperation, promotion of innovation

Binh Duong New City from its early days was positioned to become the new political center of the province, the city of science, education, finance and high-quality services, the destination of international trade, the heart that motivates the attraction and development of surrounding industrial zones, in order to upgrade urban areas of Binh Duong province.

To carry out the construction of Smart City in the new phase, the Provincial People's Committee organized many activities to attract and improve the efficiency of investment cooperation projects, seize opportunities and expand cooperation in many fields. In December 2021, the Provincial People's Committee held a video conference on cross-border e-commerce project with Warburg Pincus Group (USA). At the conference, Jeffrey David Perlman, Executive Director for Southeast Asia, Warburg Pincus Group, said the goal of the project is to build an integrated supply chain ecosystem. The project is a highlight to attract investment and development of Binh Duong Smart City. The project has a scale of 75 hectares, in Thu Dau Mot City, including high-tech factories, extended air warehouses, cross-border e-commerce warehouses, VNTT data centers, three-storey showrooms, offices...

As a unit that always accompanies and makes important contributions to the socio-economic development process of the province, Becamex IDC has held many online and face-to-face conferences to sign development cooperation agreements with partners. In November 2021, Becamex IDC and The Connected Places Catapult (CPC - UK) signed a cooperation agreement to develop Binh Duong Smart City and Innovation Region. Dr. Amy Hochadel, CPC's International Business Director, said: "We believe this will be a sustainable collaboration between CPC and Becamex IDC. Becamex IDC is the partner that we want, Binh Duong is also the most suitable place for innovation activities."

To strengthen cooperation in Smart City building, in December 2021, Becamex IDC and CapitaLand Group signed a cooperation agreement on Binh Duong New City development project. CapitaLand is a major real estate group in Asia, in which CapitaLand Group's real estate development arm owns a portfolio worth about S$22 billion, equivalent to US$360,000 billion. CapitaLand Group's projects are diverse, from complexes, retail, commercial office complexes, accommodation, residential areas, to new economic development segments such as innovation, science and technology...

Ronald Tay, CEO of CapitaLand, rated Binh Duong as one of the fastest growing provinces in the Southern Key Economic Region and a prominent destination attracting many investors. Regarding the project in Binh Duong new city, Ronald Tay informed that the project will focus on the development of housing blocks with a total area of 18.9 hectares, expected to have more than 3,700 long-term ownership apartments and houses built at the project, including low-rise, mid-rise and high-rise housing to meet the demand of about 13,000 residents. He believes that the project would bring good success to the development of businesses in particular and Binh Duong province in general, thanks to the strategic location of the project at Binh Duong new city, the central area of the modern and smart city, the main focus is on science and technology.

With a series of projects being proposed and implemented by the units, unified under the leadership of the province, Binh Duong socio-economic is powerfully growing, gradually creating the foundation to enter a new era, aim at a knowledge economy, digital economy.

Vo Van Minh, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee: "Through projects of Smart City, Innovation Region, with the desire to stimulate innovation and science technology, develop commercial services, e-commerce, facilitate digital transformation and industry 4.0, improve and attract human resources, in order to build a smart and worth-living Binh Duong. I believe that the cooperation project between Becamex IDC and CapitaLand in Binh Duong New City center not only brings high efficiency to investors but also a new appearance to the local trade and services sector, contributing to the socio-economic development of the province in the new stage of development."

Nguyen Van Hung, Chairman of Becamex IDC: "The science and technology industrial park is the new generation of Becamex IDC products, complementing the dynamism and development of traditional industrial parks; building a platform to attract high-value-added industries, technology companies, startups to invest in Becamex IDC and Binh Duong industrial parks. Therefore, it is necessary to have experienced partners and CPC is a suitable partner. CPC is a bridge that brings many British businesses to Binh Duong, helps Binh Duong gradually upgrade the ecosystem from labor-intensive production to the innovation ecosystem. Through this cooperation, the British business community has the opportunity to develop even stronger in Binh Duong in particular and Vietnam and Asia in general."

Reported by Phuong Le – Translated by Ngoc Huynh

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