Increasing attractiveness by specialized IPs

Binh Duong has developed 29 industrial parks (IPs) established out of a total of 33 planned Ips, with the high rate of land tenancy. The province is currently making a plan for the period of 2021-2030, with a vision to 2050. It is expected to further make investment and expand existing IPs, but towards higher standards to meet international investors’ stricter requirements.

In-depth development

Binh Duong is studying and integrating a number of specialized IPs into the local planning in the period of 2021-2030, with a vision to 2050. Recently, provincial People's Committee has approved a project to develop the local wood processing industry to 2025, with orientations to 2030. Accordingly, the province will research and select a number of planned IPs at the following conditions on the size of the area, infrastructure, industries to attract investment to develop the model of "high-rise factories in IPs" to attract investment projects in the furniture manufacturing industry; research and integrate a number of Ips specialized in furniture production. After being approved by the Prime Minister, Binh Duong province’s planning will be implemented after 2025.

Binh Duong is speeding up the deployment, establishment and expansion of IPs to exploit opportunities and be proactive in investment attraction. In picture: Bau Bang IP is under synchronous and modern investment

Currently, Truong Hai Group (THACO) is also surveying some potential locations to build an auxiliary mechanical IP in the province, with expected investment of about VND 26 trillion. When coming into operation, the IP will not only operate in the automotive industry, THACO's main field, but also get involved in many other auxiliary industries. The IP is also an open door for investors, partners, especially small and medium-sized enterprises to promote cooperation and mutual support, creating spread and develop together for the business community.

Do Minh Tam, General Director of THACO Industries Corporation said that Binh Duong has many strong points to build auxiliary IPs, especially has a long history of production development, with a very large business community together with advantages in terms of infrastructure, land fund as well as a favorable investment environment.

According to Nguyen Trung Tin, Head of provincial Industrial Parks ‘Management Board, the current land fund of province-based IPs has reached a fairly high occupancy rate. In the coming period, the work of attracting investment into the local IPs will have a more selective change towards specialization, ecology, smartness and will create a new attraction. The existing and new Ips are having many solutions to improve their competitiveness and attractiveness to take advantage of investors’ increasing demands.

Increasing attractiveness

The policy of redirecting industrial development to the north has been effective, helping localities develop industrial manufacture very quickly. According to Assoc. Prof. Dr. Nguyen Minh Hoa, Vice-Chairman of Ho Chi Minh city’s Association for Planning and Development, within the next few years, smart, modern IPs with 4.0 application will loom large across Bau Bang industrial, Phu Giao or Dau Tieng. This is said to be a factor creating a different urban face for Binh Duong in general and the north of the province in particular.

The province is also planning to have a relocation roadmap for enterprises outside IPs and industrial compounds (ICs) in the south into IPs and ICs in the north. Nguyen Thanh Ha, Deputy Director of provincial Department of Industry and Trade also said that the department is coordinating with other departments, sectors and localities to review and supplement a number of ICs while setting up methods to make planning for a number of specialized ICs to 2030, with a vision to 2050 so that enterprises in the south to move in.

Mr. Tin said Binh Duong has aimed at developing sustainable IPs under the "3 in 1" model (IP - urban area - service area) with a system of modern, synchronous technical and social infrastructure. Therefore, Binh Duong has built many preferential policies to support investment in IPs while actively supporting, removing and solving problems with legal procedures on land for secondary investors in IPs.

Currently, the province is focusing on establishing a science and technology industrial park with an area of ​​400 hectares in Bau Bang district and implementing procedures for expanding South Tan Uyen, Rach Bap and Cay Truong IPs while studying options to upgrade and convert existing Ips into auxiliary, ecological, innovative and urban IPs in line with the new orientation of Binh Duong city.

After nearly 30 years of industrial development, although the business community in Binh Duong has reached stronger growth, it is still mainly in labor-intensive fields with low added value. To adapt to the new context, the province is building and developing Ips in a more specialized direction. For the solution to attract more effective investment capital, Binh Duong is well preparing conditions such as infrastructure, clean land fund, planning of IPs, ecosystems, technology, etc, deploying human resource training, building social housing projects, providing adequate and timely labor resources for enterprises to make investment in the province.

Reported by Ngoc Thanh-Translated by Kim Tin