Binh Duong's economy further achieves success

 This is the shared assessment of leaders from various sectors, experts and businesses regarding the province's economic development in 2025. Opinions said that with the economic achievements of 2024 and comprehensive preparations, Binh Duong will continue harvesting significant achievements this year.

*Trinh Hoang Tuan Anh, Deputy Director of provincial Department of Planning and Investment: With an open and attractive investment environment, Binh Duong was still one of Vietnam’s leading provinces and cities in attracting foreign direct investment (FDI) in 2024. To date, Binh Duong has surpassed Hanoi to rank second nationwide in FDI attraction, with over US$ 42.4 billion. Notably, many investors have increased their capital, affirming the trust of FDI enterprises in the province's investment environment.

In 2025, Binh Duong will continue mobilizing all investment resources for development, emphasizing the vital role of attracting FDI capital. According to Binh Duong provincial Master Plan for the 2021-2030 period, with a vision to 2050, Binh Duong aims at becoming a centrally run city by 2030 and a dynamic, comprehensive development hub in Southeast Asia, leading in science, technology and innovation as well as a center for modern industry and services. The province is focusing on building a complete intra-regional and inter-regional traffic system to facilitate industrial development and planning for new urban areas. Nearly 200 kilometers of belt roads and expressways connecting the region are set for completion. Additionally, Binh Duong will establish an industrial belt spanning over 20,000 hectares. These developments are expected to drive FDI inflows into the province in 2025 and beyond.

*Dr. Mai Huu Tin, Chairman of Binh Duong provincial Business Federation: In 2025, we should carefully consider all three driving forces: consumption, enterprises’ investment and public investment. With the strong recent commitments from provincial leaders, public investment will continue being a focus in 2025. Enterprises’ investment, including FDI, will depend on market prospects. The U.S. market, a primary destination for Binh Duong's exports, remains highly unpredictable until President Donald Trump assumes office on January 20 and announces his policies. Current signals show that Vietnam is not yet grouped with countries like China, Mexico, and Canada that may face high tariffs in 2025.

Along with its potential advantages, businesses in the province are also facing numerous challenges such as pressures on traffic infrastructure, regional connectivity, social welfare, green transformation, digital transformation… It will be a pity if we cannot take advantage of Vietnamese goods entering the United States in 2025 compared to Chinese goods.

*Vuong Sieu Tin, Vice Chairman of Binh Duong provincial Ceramic Association: In 2025, we see brighter market prospects for the export ceramics sector. We are striving to learn production experience domestically and internationally, focusing on technological innovation, reducing product costs and enhancing the competitiveness of the local pottery items. We are actively promoting and supporting member enterprises in the association to change energy-efficient production models, ensuring the task of greening craft villages while stabilizing and improving product quality, reducing costs and boosting competitiveness in export markets.

We hope that enterprises within the association will continue improving operational processes and applying automation to existing technological lines to enhance product quality and minimize risks for operators. Along with development, the association is also committed to preserving the cultural heritage of the ceramics craft to support tourism and sightseeing activities.

*Phan Le Diem Trang, Vice Chairwoman of Binh Duong provincial Textile and Garment Association: The textile and garment industry has been undergoing significant transformations in the context of the global market. In 2025, intensifying competition from countries with lower production costs poses many challenges for Vietnamese enterprises. Additionally, the demand for sustainable development and the shifting global supply chain trends offer new opportunities for the sector. Enterprises in the sector have begun applying measures such as utilizing renewable energy, improving wastewater treatment and using recycled materials. International partners' requirements for ESG (Environmental, Social, and Governance) standards and LEED (Leadership in Energy and Environmental Design) certification are driving enterprises to adapt quickly. This presents an opportunity for domestic textile and garment enterprises to enhance their competitive position, but it poses challenge, due to the need for capital investment and technological improvement.

The textile and garment industry also faces significant challenges related to labor costs and reliance on imported materials. However, with advantages such as geographical location and ability to quickly adapt to sustainable development trends, the industry still holds great potential to attract investment and maintain its position in the global market. We recognize that rapid adaptation to market demands and increased investment in key areas such as fabric production and digital technology will be the key to sustainable development for Binh Duong's textile and garment industry in the future.

*Nagato Takahiko, Chairman of Binh Duong province-based Japanese Business Association: Binh Duong is a preferred destination for Japanese enterprises investing in the industrial sector. Japanese businesses in Binh Duong have always received attention and the best possible support from local leaders for their development. The Japanese business community has great confidence in the province’s policies for development, investment attraction and continues investing and expand production in Binh Duong. Currently, Ho Chi Minh city-based Japanese Business Association has 1,050 members, including over 160 businesses in Binh Duong province-based Japanese Business Association. Binh Duong is always the first destination for Japanese enterprises when considering investment in Vietnam. With the province's remarkable development, I believe that more major Japanese companies will shift their investment focus to Binh Duong in the coming time.

*Ta Van Thanh, General Director of Thai Duong Industrial Paint Co., Ltd. - TaiYang Footwear Branch: Recently, our company has effectively taken advantage of the free trade agreements signed and implemented by Vietnam to expand international trade and export markets. We have strengthened online sales through e-commerce channels along with various flexible adaptation solutions. By the end of 2024, our company produced and sold over 5 million pairs of shoes and sandals in both domestic and export markets.

In 2025, with the quality and brand reputation built, we are confident in securing more new export orders. The company also prioritizes the domestic market, focusing on restructuring production towards green transformation, technological innovation and exploring new markets, with expectations for higher growth in 2025.

*Oh Dongkun, General Director of Becamex Tokyu Co., Ltd.: Our projects in Binh Duong will accelerate in the coming time. Additionally, we are participating in projects to develop a traffic network connecting to Ho Chi Minh city and urban development based on the model of TOD (transit-oriented development)…The company has continuously researched new traffic systems to minimize environmental impacts such as promoting a shift in traffic methods through the urban bus project, exploring trials of autonomous electric vehicles…We are also testing a zero-emission circular ecosystem at commercial facilities and have implemented energy-saving air conditioning systems in our shopping centers with support from the Japanese government, fostering environmental sustainability.

Reported by Ngoc Thanh-Tieu My-Translated by Kim Tin