Industrial parks developed, land fund created to attract investments

In 2021-2025, Binh Duong is further strengthening the land fund for the development of industrial parks in time to catch the new wave of investments. Currently, the province is accelerating and rapidly expanding the area of ​​industrial parks according to the planning approved by the Prime Minister, in which, VSIP III and Cay Truong are the two new industrial parks. Together with other industrial parks of the province, these new parks are expected to become ‘a new growth engine’ for Binh Duong on completion.

To prioritize high-tech industry

The provincial People's Committee has just approved the detailed 1/2000-scaled planning of Vietnam - Singapore Industrial Park III (VSIP III) on the basis of the approved construction master 1/5000-scaled planning. Accordingly, VSIP III of phase 1 is a concentrated multi-industry production industrial park where priority is given to exploiting high-tech industries. This is an area associated with the service and management center of the whole industrial park to connect the DT746 external traffic axis and prioritize construction in the immediate period to attract potential investors. Although the construction of VSIP III has just started, more than 30 investors have now been interested in learning and developing production, which is equivalent to the coverage of about 175 hectares of industrial land. Currently, industrial parks in the province are also aiming to attract investment in depth and sustainable development.

Production activities are on-going at KyungBang Vietnam Co. Ltd. within Bau Bang Industrial Park

According to the Management Board of provincial Industrial Parks, up to now, the total number of planned industrial parks in the province is 33 covering a total planning area of ​​15,790 hectares. Currently, the province has established 29 industrial parks on a total planning area of ​​more than 12,662 hectares, of which 27 industrial zones have been put into operation on a total area of ​​more than 10,962 hectares; 2 industrial zones have been approved by the Prime Minister for adjustment of investment policy, which is VSIP III and Cay Truong for a total area of ​​1,700 hectares. Along with that, the province will re-plan existing industrial parks to increase land use efficiency by expanding Nam Tan Uyen and Rach Bap industrial parks and giving priority to attracting high-tech enterprises.

In recent years, the province has shifted the planning of large industrial parks to areas with many vacancy like Tan Uyen, Ben Cat, Bau Bang, and Bac Tan Uyen. The province's policy of redirecting industrial development to the north with industrial parks as a lever has been effective to help localities very quickly develop industry.

Mr. Pham Ngoc Thuan, General Director of Becamex IDC, affirmed that foreign investors show very high demands on the quality of infrastructure and accompanying services. To prepare facilities to welcome such new FDI inflows, many businesses have invested in developing industrial factories and warehouses in Binh Duong. Becamex IDC and its partners have fully prepared infrastructure in 5 industrial parks of My Phuoc 1, 2, 3, Thoi Hoa, and Bau Bang, and at the same time, upgraded and completed customs traffic routes through National Highway 13, My Phuoc - Tan Van, DT743 and many other routes for better connectivity not only within the region but also flexibly to the outside and to the southern key economic region.

To raise the level of foreign capital inflow

Upholding the view of taking infrastructure as an advantage to attract investors, Binh Duong has, in recent years, always focused on developing comprehensive socio-economic infrastructure, thereby, being the constantly leading locality in terms of infrastructure index according to the annual provincial competitiveness index (PCI) report.

Currently, the province is making a provincial plan for 2021-2030 with a vision to 2050. It is expected to continue to invest in new industrial parks and expand the existing ones towards higher standards of science and technology to protect environments and with focus on attracting industries that bring higher added value and meet increasingly strict standards of international investors. According to Mr. Nguyen Thanh Nhan, Deputy Head of the Management Board of the provincial Industrial Parks, in 2020-2025, Binh Duong aims to develop sustainable industrial parks according to the 3-in-1 model of urbanity and services. The province's industrial parks with synchronous and modern infrastructure, conveniently located in and connected to important traffic axes with Ho Chi Minh city and surrounding areas, have attracted many large multinational enterprises and corporations to invest.

Currently, Binh Duong is speeding up the implementation progress of investing in the construction of industrial park infrastructure according to the planning with researches on the formation of science and technology cities. The province is also focusing on building Science and Technology Industrial Park in Bau Bang district which is one of the key projects of the Innovation Zone Project to attract larger corporations and businesses in key manufacturing industries with higher added value, suitable for the current stage. The provincial Management Board of Industrial Parks continues to innovate and further improves policies and adjusts the objectives and orientations for the development of industrial parks to adapt to the new context.

The construction and development of a system of urban centers and industrial parks in Binh Duong has always been of great interest to the province and devoted a lot of resources to implementation. As a result, the province's position is increasingly enhanced to become one of the major industrial development localities of the country.

Accumulated in the first 6 months of 2022, industrial parks in the province have attracted more than USD 2.3 billion of foreign investments, an increase of 85% over the same period in 2021, reaching 192% of the 2022 planning while domestic investment is VND 9,935 billion, reaching 903% of the plan; construction investment capital gained over VND 2,137 billion, reaching 68.49% of the plan and the realized investment capital of enterprises USD 1.3 billion, reaching 92.62% of the year plan. The numbers show that in addition to the improved business investment environment, the infrastructure of Binh Duong's industrial parks and transport infrastructure is increasingly promoted in terms of advantages to attract foreign investors to invest and expand theri factories and workshops, maintaining the chain of production and business activities, thereby, making an important contribution to the economic growth of the province.

Reported by Ngoc Thanh – Translated by Vi Bao