“Marvellousness” is the word used to depict Binh Duong’s industrial development. This development has greatly contributed by 14,300 domestic enterprises with total investment capital of more than VND111trillion and 2,174 foreign investment projects with total registered capital of nearly US$18.5bln. Their effective operations have also contributed to enhancing the province’s industrial production value. In the first half of 2013, the province’s industrial production value reached more than VND63.9trillion, up 11.9% and export value was nearly US$6bln. 

Provincial leaders visiting Kahoku factory

Industrial manufacture plays a key role in economic development

Currently, industrial manufacture plays a key role in the economic development process of Binh Duong and accounts for 62% of the local economic structure. The province’s economic picture has strongly shifted towards sustainable production of goods. The sustainable development has obviously been expressed in the recent period. Despite the global economic crisis, the province’s economy has still maintained stable growth with industrial manufacture sharply absorbing investors.

The above results have also come from the consensus between the local authorities and people. Realizing that industrialization plays an important role in the local economic development, Binh Duong has created a breakthrough in building industrial parks as a lever for development. The whole province is now home to 28 industrial parks with 9,095 hectares in total and 8 industrial compounds in total. Among them, 26 industrial parks are operational with the average ratio of land tenancy reaching 60%. According to investors, Binh Duong has a favorable investment climate with well-built infrastructure, helping uphold their business efficiency.

Many areas were unyielding in the struggle against foreign invaders for national independence, but now they are very effective in investment attraction with the birth of industrial parks, namely VSIP 1, Dong An 1, Song Than 1 and 2, My Phuoc 1,2 and 3, Bau Bang…Song Than 1, 2 industrial parks have so far lured more than 500 enterprises with total investment capital of more than US$3bln. My Phuoc 1,2, 3, 4 industrial parks and Bau Bang industrial park have also drawn nearly 400 projects capitalized at around US$3bln; Viet Huong 2 and An Tay industrial parks with nearly 50 projects valued at more than US$400mln; Dat Cuoc industrial park with 70 projects totaling nearly US$300mln…With the above result, industrial parks have contributed to helping Binh Duong’s industrial manufacture develop flexibly.

Towards sustainable development

Industrial manufacture plays a key role in the provincial modernization cause, in which industrial parks create a motivation for investment attraction. With a favorable investment climate, Binh Duong continues being an attractive destination for domestic and foreign investors. Since early this year, the province has lured more than US$1bln in FDI capital, mainly in industrial manufacture. This continues affirming that the province’s picture of industrial manufacture is very sustainable with industrial parks seen as a lever for breakthroughs.

The province’s industrial development has also contributed to improving the lives of the local people. Nguyen Thanh Phong, Chairman of My Phuoc township’s People’s Committee in Ben Cat district said that the birth of industrial parks herein has promoted business activities among the local people, quickly changing their lives and gradually forming up the face of a modern urban area. Meanwhile, Tran Van Lieu, Head of provincial Industrial Parks Management Board said that industrial manufacture has comprehensively affected the local socio-economic development, greatly contributing to improving the lives of the local people. Industrial development with industrial parks as a level has promoted the development of many locality in the province.

Binh Duong has aimed at sustainable industrial development with many measures put forward, including further perfecting infrastructure facilities, improving administrative procedures, training human resources…The measures will be an important premise for investment attraction, contributing to promoting the local industrial manufacture. Provincial People’s Committee has also granted licenses to 22 newly-registered and capital increased FDI projects with total investment capital of nearly US$220mln. This shows that the province’s investment attraction measures are upholding their effectiveness.

During his courtesy visit to provincial leaders on the occasion of the 68th anniversary of the National Day of Vietnam, Mr. Olcer Emre, General Director of P&G Vietnam Co.Ltd. said that he was very impressive at Binh Duong’s quick industrial development, contributing to promoting the local socio-economic development. He added that during the past 18 years, Binh Duong’s favorable investment climate has helped his company get successes. Also according to him, P&G Vietnam Co.Ltd. will increase its capital by US$30mln for production expansion and is expected to invest its third factory in Binh Duong in the coming time. With achievements done, the company will further make contributions to the province’s industrial development.

Reported by Ve Giang-Translated by K.T