Enhancing development of trade and service infrastructure
According to provincial planning, Binh Duong aims to transform its development model during the 2021-2030 period, with a focus on modern industries and high-quality services. To achieve this goal, the province is concentrating on mobilizing investment resources for its transportation infrastructure system and developing high-quality trade and services in conjunction with industrial and urban development.
Destination for connection and development
As Binh Duong becomes an attractive destination for international investors and experts, the demand for high-quality trade and services is on the rise. Notably, the province is home to many foreign experts and their families who come to live and work.
Moving away from its previous reliance on industrial strengths, Binh Duong has recognized its potential for comprehensive development by placing people and quality of life at the center of its plans. The province is investing heavily in modern infrastructure with the goal of transforming into a smart, livable city. Areas like Binh Duong New City are emerging as vibrant centers for administration, commerce, culture, and entertainment.
Mr. Wyeren Yap, General Director of CapitaLand Development Vietnam’s Southern Region, noted that Binh Duong is a leading locality in the country for attracting foreign investment due to its favorable investment environment and modern infrastructure. Binh Duong New City, with its smart urban development plan, has become an ideal “home” for international residents.
Currently, Binh Duong boasts large shopping mall systems, including Aeon, Central Retail, Mega Market, Lotte, Saigon Co.op, and Vincom. Aeon Mall Binh Duong Canary, located in Thuan An City, opened in 2014 on a land area of about 62,000 square meters. In 2023, Becamex Tokyu partnered with the "giant" Aeon Vietnam to develop a second Aeon supermarket, which is now operational in Binh Duong New City. |
The development of trade and services is being directed towards strengthening connections and expanding international partnerships to enhance the local ecosystem, while also narrowing the gap between industry and services within Binh Duong's economic structure. National and international events held in Binh Duong, alongside significant investments in core technical infrastructure projects, have had a positive spillover effect. These developments meet the needs of investors in emerging fields and contribute to improving the material and spiritual well-being of all residents, further promoting urbanization in the province in a civilized and modern manner.
Improve people's quality of life
After nearly 30 years of attracting investment and developing its industry, Binh Duong has achieved significant success, consistently ranking among the top provinces in the country for foreign investment. However, experts believe that for sustainable development, Binh Duong needs to focus on enhancing its services and urban areas through large-scale projects.
Dr. Mai Huu Tin, Chairman of Binh Duong Business Federation, noted that with both large domestic and foreign retailers present in the province, and a willingness to invest in line with the region's population growth, Binh Duong’s trade and service sectors are poised for significant expansion. The province's planning for the period from 2021 to 2030, with a vision extending to 2050, emphasizes the development of industrial parks alongside urban areas and services, encompassing not just commerce, but also education and healthcare.
Dr. Tin emphasized, “The better Binh Duong does in attracting and providing these services, the more it will draw people and experts to settle here, creating an increasingly robust cycle of consumption. Every great city has its origins like that. People need to come, even if they start out poor and merely have jobs, so they can gradually improve their incomes and evolve into consumers at higher levels.”
Currently, many potential investors are eager to collaborate with Binh Duong on creating a modern and civilized urban environment. For instance, the Daewoo Group from Korea is researching the market for prospective real estate and urban development projects, exploring investment opportunities in construction, infrastructure development, and transportation. Similarly, Tokyu Corporation from Japan has expressed interest in investing in a light rail line (LRT) in Binh Duong to support the future development of Metro lines 1 and 2 in the province.
Binh Duong is undergoing substantial transformation, adopting a modern urban appearance, thanks to coordinated investments in transportation infrastructure and trade services. Notably, the A1 Roundabout complex (WTC Gateway) being developed in Binh Duong New City is expected to attract more investment and foster business and technological growth. Covering an area of 168,000 square meters, WTC Gateway will feature a shopping center, a cultural, art, and sports center, as well as an exhibition center. This is the first urban development project near the public transport axis (Transit-Oriented Development - TOD) in Binh Duong, encompassing approximately 7 hectares, with a central station linking to Thu Duc City and the Ben Thanh - Suoi Tien Metro line in Ho Chi Minh City. These key international projects not only serve as architectural highlights but also significantly enhance the urban environment and the province's competitive advantage.
With a high urbanization rate, Binh Duong has more potential and opportunities to make a breakthrough in developing trade and services, in which Binh Duong New City is the core. Over the years, Binh Duong has recorded impressive figures in the development of cultural and entertainment infrastructure. A typical example is the WTC EXPO International Exhibition Center. This is a complex space with diverse functions, services, and full amenities, becoming an ideal destination for business, cultural, and community activities. |
Reported by Ngoc Thanh - Translated by Ngoc Huynh
