Creating a driving force for sustainable growth

With an open and attractive investment environment, in recent years, Binh Duong has become one of the leading provinces and cities nationwide in FDI attraction. This is considered a real breakthrough that brings success to the locality. But to retain giants and attract leading ones in the coming time is also a huge pressure requiring Binh Duong to continue making improvements in institutions, business environment, infrastructure and especially high quality human resources.

To keep improving the investment environment

It is undeniable that the great contribution of FDI capital has helped the province have good development compared to other localities in the region. However, it worth mentioning that the majority of FDI enterprises in Binh Duong still depend on processing, assembling, and employ outdated technology, causing environmental pollution, posing potential risks of energy security and financial security. In addition, the contribution of FDI enterprises to improving the province's industrial capacity is still very low. The linkages between FDI enterprises and domestic enterprises are still weak, not meeting the needs and service provision standards of FDI enterprises, especially transnational corporations.

Eastern International University is a pioneer in providing high-quality human resources to meet the requirements of digital transformation. 

Associate Professor, Dr. Nguyen Quoc Dung, Director of Academy of Politics Region 2, said that the  integration in the coming period will have many new requirements in the direction of more synchronization, newer technology and more competition. This is accompanied by the development of the semiconductor industry. Thus Binh Duong needs to include this requirement in its industrial development orientation. As for upgrading infrastructure and human resources for the coming period, Binh Duong needs to be fully prepared to absorb this new capital flow.

How can Binh Duong attract strategic investors? This is a challenge not only for Binh Duong but also for Vietnam in general. In the coming time, Binh Duong needs to continue to improve the production and business environment to attract and create production chains and commodity chains with headquarters located in the province. Besides, the province needs to have breakthrough solutions to attract and improve the capacity of domestic private enterprises. From there, we can support domestic enterprises to participate more deeply in the global supply and production chain; to receive orders from supporting industries, as well as investment flows from global supply chains to Vietnam.

Breakthroughs in human resource development

According to Nguyen Van Hung, Chairman of Becamex IDC, the appearance of Vietnam - Singapore Industrial Park joint venture has given Binh Duong a new perspective, a new standard model, gradually forming the concept of "develop not only industry".  Industrial parks will not be able to exist sustainably if they do not have high-class urban areas to serve the demand of investors, social housing areas to serve low-income workers, resettlement areas serving people subject to compensation and clearance, in addition to a system of public utilities such as healthcare, schools, other social services...

As investors come to explore investment environment in Binh Duong, they always ask two questions about whether infrastructure and high-quality human resources can meet their requirements or not, especially with priority occupations, which Binh Duong is calling for investment recently. One of the advantages of attracting investment for high-tech projects is that highly qualified human resources are always the top factor.

Production activities at R-PAC Vietnam Co., Ltd

Explaining the choice for Binh Duong to locate their factory, Preben Elnef, Vice President of LEGO Group (Denmark), said that Binh Duong has certain outstanding advantages compared to other provinces and cities. One of those advantages is that Binh Duong has built an infrastructure system very suitable for high-tech manufacturing activities, including a waste reduction support system as well as schools for workers’ children and social housing.

Currently, Binh Duong has 8 universities, the number of universities in the province is only after Hanoi and Ho Chi Minh City, and the quality is highly appreciated. Binh Duong has carried out a smart city project whose goal is to become one of the leading provinces in the country with global competitiveness in attracting, training and retaining scientific and technical talents for innovation and economic growth.

According to Prof. Dr. Tran Tho Dat, Chairman of Science and Training Council of National Economics University, this goal of Binh Duong will soon be achieved, especially with the province's good educational infrastructure, and training programs that are based on international standards, and a good, dynamic working environment. This can help Binh Duong have a talented, high-quality workforce. Besides, a complete and sustainable ecosystem and the advantages of being located close to Ho Chi Minh City, will facilitate the attraction of high-quality human resources from Ho Chi Minh City and the whole country coming to Binh Duong to work.

Entering a new phase, Binh Duong is constructing an Innovation zone, building a scientific technological industrial park, attracting green investment projects with strong capital, high in technical qualifications and intelligence... This can be considered a second breakthrough to heighten development, keeping pace with the inevitable trend of the 4.0 industrial revolution taking place worldwide. To achieve this goal, the bottleneck here is training human resources, especially high-quality human resources to meet economic requirements, especially today's digital transformation economy. (Prof. Dr. Ta Ngoc Tan, Standing Vice Chairman of the Central Theoretical Council)

Reported by Ngoc Thanh - Translated by Ngoc Huynh