Industrial parks in the province attract effective investment

 In the first 6 months of 2024, foreign investment attraction into the province's industrial parks (IPs) reached more than US$533 million, an increase of 66% over the same period last year, reaching 44% of the year's plan; the province attracted domestic investment capital of more than VND1,088 billion, reaching 98.9% of the year plan. Currently, enterprises and investors in industrial zones are endeavoring to conquer challenges, uncover opportunities in adversity, and develop innovative solutions.

Production activities at Bonfiglioli Vietnam Company (My Phuoc 3 Industrial Park).

 Stable production

With a total investment of nearly US$1.4 billion, the completion of Lego's world-leading toy factory in VSIP 3 is imminent. The factory is expected to launch its first product by the end of this year. According to a representative of Lego Manufacturing Vietnam Co., Ltd., the company has made important preparations to put the factory into operation by the end of 2024. Lego is looking to attract a highly skilled workforce to collaborate on development in Binh Duong.

Currently, 28 industrial parks in the province have basically been filled with investment projects (occupancy rate is 93.7%). With effective solutions, businesses in all industrial zones of the province continue to maintain regular production and business, create added value for products, and contribute to the economic growth of the province. As a result, over the first 6 months of 2024, the revenue of enterprises in industrial parks reached US$20,546 million, an increase of 9.8% year-on-year, and reaching 51.36% of the year plan; Export turnover reached US$12,156 million, up 2.91% year-on-year and reaching 51.22% of the year plan; Import turnover reached US$11,968 million, up 3.43% year-on-year and reaching 54.44% of the year plan; Taxes and budget payments were US$287.91 million, an increase of 15.67% year-on-year and reaching 55.36% of the year plan.

Mr. Nguyen Trung Tin, Head of the Provincial Industrial Park Management Board, said that with various solutions such as improving the business environment and perfecting infrastructure, industrial parks continue to be the driving force for economic growth in the province. Currently, the Provincial Industrial Park Management Board is closely coordinating with IP infrastructure investors and relevant departments to implement investment promotion programs, focusing on innovating methods of inviting and gathering supporting industries, clean technology, and high technology.

Attract investment effectively

Currently, Binh Duong is preparing conditions to meet investors' needs, enhance cooperation efficiency, and seize opportunities from the fourth industrial revolution to proactively attract new FDI capital flows. The Provincial Industrial Park Management Board implements land procedures and plans and builds industrial park infrastructure according to planning. In particular, the board continues to organize the implementation of tasks and general construction planning projects (scale 1/5000) of Dat Cuoc Industrial Park and specialized mechanical industrial park (Bac Tan Uyen 1 Industrial Park), advise converting functions Binh Duong Industrial Park...

According to the Provincial Industrial Park Management Board, it is estimated that over the first 6 months of 2024, the realized investment capital of enterprises reached more than US$1.2 billion, an increase of 24.33% over the same period last year and reaching 62.22% of the plan; Of which the economic sector with foreign investment reached US$956.8 million (accounting for 77.74%), an increase of 19.29%; The domestic sector reached US$257.6 million (accounting for 22.16%), an increase of 31.65%.

Accumulated up to now, Binh Duong Industrial Parks has 3,143 valid projects, including 2,460 FDI projects with a total registered investment capital of US$29.76 billion and 683 domestic investment projects with a total registered investment capital of VND94,885 billion. Namely, VSIP 2 and VSIP 2A are leading in attracting investment with 331 projects with a total capital of more than US$5.7 billion; VSIP 1 has 211 projects with nearly US$3.7 billion; Next is Bau Bang Industrial Park and My Phuoc 3 Industrial Park, both with over US$2.6 billion... In particular, even though newly established, VSIP 3 has already attracted 8 projects with a total investment capital of over US$1.6 billion. The highlight is the project worth more than US$1.3 billion of the Lego toy group, and the jewelry factory of over US$160 million of Pandora. Many large corporations promise to continue pouring investment capital into this industrial park.

The province's industrial parks have a convenient geographical location and transportation access. They have modern infrastructure, large clean premises, and are well-invested in. As a result, they fully meet the needs of both domestic and foreign investors. The parks have become a popular choice for many investors, both locally and from abroad, in recent times. Mr. Tin added that to continue to develop more sustainably, the province's industrial parks are actively seeking solutions to attract high-quality and effective investment capital. The province is also proactively preparing for various conditions, such as ensuring clean land funds, planning industrial parks, developing technology ecosystems, providing training for human resources, building social housing and accommodation for workers, and ensuring the timely availability of labor resources for businesses investing in the province.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh

• Bac Tan Uyen district in dialogue for removal of obstacles tangling business production and business operations (15/07)
• Leather, footwear exports to hit 27 billion USD in 2024 (15/07)
• Businesses strive for production, business, maintaining growth (15/07)
• Seeking trade opportunities, developing cultural industry (15/07)
• The whole province has 89 cooperatives and 180 agricultural cooperative groups (15/07)
• Vietnamese fresh agricultural products have opportunities to enter Singaporean market (14/07)
• Female trade unionists in devoting to working people (13/07)
• Vietnamese businesses in UK strengthen connections (12/07)