"Clear the way" to welcome businesses

During the past tenure, the Party, government and people in the province unanimously carried out socio-economic development goals, helping provincial industrial production gain important results. Binh Duong is proud of a strong and sustainable commodity manufacturing industry. This is a vital foundation for the industry to reach new heights, to develop quickly and sustainably in the next period.

Binh Duong attracts selective investment and projects with modern technologies, especially large projects aiming at industrial, urban growth and high-quality services.

In-depth development

During the 2015-2020 period, Binh Duong identified industry as the key sector, hence the province stipulated many policies to prioritize industrial production to restructure the economy accordingly. As a result, Binh Duong is the leading industrial development of the country, with the economic growth pace is always higher than the average. Over the past five years, Binh Duong has made efforts in improving the investment and business environment, with more transparent and equal competition, creating favorable conditions for all economic sectors to develop together.

According to Bui Minh Tri, Head of Provincial Industrial Parks' Management Board, Binh Duong owns a synchronous, diversified and modern infrastructure in many types; has been consecutively one of the leading regions in Public Administration Reform Index (Par Index), Provincial Competitiveness Index (PCI) and many other indicators... The province also had appropriate ways to attract investment selectively in the right direction; industrial parks of the province are actively "clearing the way" to welcome investors with many attractive plus points. In the coming period, the investment attraction into industrial zones of the province would have good changes, be more substantive, more selective in the direction of specialization, ecology, intelligence, and will create a new attraction.

The province's industrial parks are currently operating efficiently with an occupancy rate of about 80%. High-tech industries, supporting industries, manufacturing and processing industries with high added values have been well developed. Production technology level in enterprises is increasing in the direction of modernization. Enterprises in the province are gradually participating deeply in the global product supply chain and are appreciated by foreign partners.

Binh Duong has concentrated all resources to improve infrastructure, develop industrial zones and clusters to connect traffic within the southern key economic region, to meet production and business requirements of domestic and foreign investors. As a result, the province has attracted large projects in accordance with provincial policies on investment attraction and industrial development planning to develop a number of important economic sectors such as processing industries..., facilitating the growth of commerce, services, and urbanization.

To turn towards high-quality industries

Industrial development has become the driving force for Binh Duong to sustain an annual economic growth rate of over 9%. In this period, the province's economy continued to develop rapidly, inclined towards industry - service according to specific plans, and ensure the harmony between growth goals. In order for industrial production to develop rapidly and sustainably, in the coming time, Binh Duong will continue to implement following solutions: Innovation to attract investment, to prioritize attracting investment and high-tech industries, supporting industries, and clean industries to increase product value and protect the environment.

In fact, newly licensed projects in the province mostly employ modern technologies to generate products with high added values, belonging to industries and sectors prioritized by the province. Enterprises in the province also gradually transformed their technology, improved capacity, lowered product costs. This has helped the province's industry gradually innovate technology, improve management level and competitiveness of the economy. Industrial production has maintained stable growth, improved competitiveness and is shifting its structure in accordance with provincial Party Resolution's orientation.

Nguyen Van Hung, Directors Board's Chairman of Becamex IDC, said that in investment attraction work in recent years, Binh Duong has carefully selected some industrial projects, including supporting industry, which is in high demand in the whole country. Binh Duong aims to attract science and technology professions, bringing high surplus value. The acceleration of high-tech industries will have a pervasive impact on most industries, creating high quality products for economic sectors throughout the region.

Binh Duong is becoming one of the leading provinces in economic development of the Southern Key Economic Zone. Industry continues to be the main development sector of the province, in the coming period, investment attraction will be carefully selected to get high-tech projects, use less labor, attain high added value. Currently, industrial parks in the province are aiming to attract investment to achieve in depth, sustainable development. In the coming time, the province will prioritize enterprises with modern production technology and high added value; increase export capacity, generate foreign currency revenues; limit projects posing pollution risk to the environment; contribute to socio-economic growth in accordance with the trend of industrialization, modernization and urbanization.

Reported by Ngoc Thanh - Translated by Ngoc Huynh