Firmly believe on the path of smart development

From a solely agriculture-based locality, Binh Duong has now transformed and become a province with a high rate of industrialization and urbanization, a model in the country's innovation process. With its achievements, Binh Duong is confidently advancing on the path of smart development, with a breakthrough strategy and long-reaching aspiration.

Binh Duong is converting simple industrial park model to a green, smart industrial park to welcome more quality investment capital. In photo:  A corner of Bau Bang industrial park - urban area.

Infrastructure must "go ahead"

At the end of June 2023, Binh Duong started construction of Ho Chi Minh City’s Ring Road 3 project, passing through the province, with nearly 11km long and a total investment of nearly VND19,280 billion. This is a key transportation connection project, with very important significance in stimulating the socio-economic development of Binh Duong in particular and the southern key economic region in general. The province is also urgently creating conditions and fulfill procedures to execute two expressways from Ho Chi Minh City - Chon Thanh (Binh Phuoc) and Ring Road 4.

By being pioneer in transport infrastructure development, Binh Duong has achieved many important results in the socio-economic development process. The province has focused on mobilizing resources to invest in transport infrastructure in the province, better serve the travel, transport, and trade of people and businesses. In addition to large-scale infrastructure projects being built locally, regional connecting projects such as Ring Road 3, Ring Road 4, Ho Chi Minh City - Chon Thanh Expressway passing through the province, will increase the attraction of new FDI inflows, thus the province is speeding up the progress.

Vo Van Minh, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee, emphasized that for more sustainable development, in the coming time, Binh Duong will continue to proactively coordinate with the Ministry of Transport and other localities in the region to build a synchronous transportation system. The province will assemble resources and prioritize projects that need to be completed as soon as possible, such as: National Highway 13 expansion, Ring Road 3, Ring Road 4, Ho Chi Minh City - Chon Thanh Expressway...

Sustainable development

Receiving support from the Government, ministries, sectors and Binh Duong province, Lego Group is building a factory at VSIP 3 to officially come into operation in 2024. This is also Lego's first carbon-neutral factory to be developed in a green, sustainable and environmentally friendly manner with the goal of zero carbon emissions. This factory is also built according to LEED Gold standards (an international standard system for design that meets leading energy and environmental standards). In addition to pouring more than $1.3 billion into this factory, Lego also invested in a solar power plant with a capacity of 50MW.

Mr. Minh assessed Lego's project as a new "green milestone" of FDI flows to Vietnam in general and Binh Duong in particular. The fact that a reputable corporation like Lego chooses Binh Duong as a strategic destination is important in promoting FDI growth and at the same time increasing Binh Duong's reputation among investors, especially European investors.

After the "boost" from Lego, many investors are also interested in learning about and investing in better quality and greener projects in Binh Duong. For example, Pandora Group (Denmark) also decided to invest in a project of $100 million. This project is also expected to use 100% renewable energy, create more than 6,000 jobs and will also be built according to LEED Gold standards. Recently, SEP Group also visited Binh Duong and want to invest more than $200 million in a carbon neutral industrial complex specializing in the footwear industry and Vietnam's first carbon reduction infrastructure on an area of 180 ha in Tam Lap 2 industrial cluster, Phu Giao district.

Binh Duong has succeeded in attracting FDI and is an example of industrial development of the country. This is the time when Binh Duong needs to attract more selective FDI capital. Along with that, shifting from a simple industrial park model to a green, smart industrial park model is an important direction to welcome quality capital flows. Although the province's green economic development is only in the beginning stages and there are still many challenges, setting goals early will help Binh Duong continue to attract investment and develop industry more and more sustainably.

In the first 8 months of 2023, Binh Duong's FDI attraction reached more than $1.2 billion. Accumulated up to now, Binh Duong ranks second in the country (after Ho Chi Minh City) in FDI attraction with 4,148 projects, total investment capital of more than $40.1 billion. The entire province has 62,848 domestic enterprises with a total investment capital of more than $683,000 billion.

Reported by Ngoc Thanh - Translated by Ngoc Huynh