DEVELOPING CAY TRUONG IP: A breakthrough in investment attraction

Being oriented to become a new-generation green industrial park (IP) of the province, Cay Truong IP located in Bau Bang district’s Lai Uyen town and Cay Truong II commune is scheduled to begin construction on May 17. The project is expected to attract numerous high-quality foreign investment projects.

Welcoming new investment projects

The groundbreaking ceremony for Cay Truong IP will take place in celebration of the 135th birth anniversary of President Ho Chi Minh (May 19). This long-anticipated project in Binh Duong aims at further providing clean land resources to attract both domestic and international investors. It also serves to accommodate factories relocating from the southern region of the province. Previously, in November 2023, provincial People's Council approved the 1/2,000-scale zoning plan for the Cay Truong IP project. Covering an area of 700 hectares, the park is expected to create 35,000 jobs and focus on attracting investment in key industries in line with the province’s socio-economic development orientation. At the event announcing provincial Planning for the 2021–2030 period, with a vision to 2050 (held in September 2024), Binh Duong also broke ground on this major project.

According to Giang Quoc Dung, Deputy General Director of Becamex IDC, Cay Truong IP is expected to attract many high-quality investment projects and is ready to welcome enterprises seeking to relocate from the southern region of Binh Duong. This is a multi-industry, centralized industrial park that attracts projects in accordance with the province’s development strategies.

Building infrastructure for the park not only allows Binh Duong to expand its land fund for development, but also creates favorable conditions for attracting high-quality foreign investment projects. The project enjoys the advantage of having completed site clearance. Notably, the 10-lane North Tan Uyen – Phu Giao – Bau Bang arterial road, which passes through the IP, was completed and put into use in 2024.

Focusing on industrial infrastructure development

Binh Duong continues regarding industrial development as the foundation and breakthrough stage, with a focus on building industrial park infrastructure linked to urbanization. According to provincial leaders, Binh Duong remains committed to the consistent goal of building industrial parks as a driving force for socio-economic development to serve the people and the country. Therefore, Binh Duong is creating large clean land reserves to develop efficient industrial parks that appeal to investors in production and business. The province is especially focused on attracting investment and transforming traditional IPs into the eco-ones. Key IPs in Bau Bang district such as Bau Bang IP, Bau Bang Expansion IP and Cay Truong IP are expected to be developed under the eco-industrial park model.

Bui Minh Thanh, Vice Chairman of provincial People's Committee stated that IPs across the province are proactively implementing solutions to attract increasingly high-quality and effective investment projects. Binh Duong is also actively preparing necessary conditions to attract quality projects, including a clean land fund, proactive industrial park planning, technological ecosystems, workforce training programs, social housing and worker accommodations and timely labor supply for incoming enterprises. The development and expansion of smart and eco-IPs in the northern region will provide a major boost for Binh Duong in attracting resources to drive socio-economic development.

With extensive experience in developing IP infrastructure, Binh Duong intends to continue investing in new and expanded IPs under the 2021–2030 provincial plan, with a vision to 2050. These IPs aim at meeting higher standards in science and technology, environmental protection and prioritize industries with high added value. With nearly 30 IPs in operation, many of them have become strong brands, the province's IPs have significantly contributed to attracting substantial investment capital. This plays an important role in driving industrialization and modernization, creating thousands of local jobs and increasing State budget revenues.

In this new development phase, the province’s IPs aim at attracting industries with high added values at the increasingly strict standards of international investors. Both existing and new parks are implementing various strategies to enhance competitiveness and attract major corporations and enterprises in key high-value industries in line with the current context. Currently, Binh Duong is accelerating the implementation and investment in the construction of IP infrastructure in line with approved planning. In addition, the province is focusing on the planning of VSIP 4, Lai Hung IP and Mechanical Engineering IP and among others.

Reported by Ngoc Thanh-Translated by Kim Tin