Internal industrial position of the province elevated in transformation

Binh Duong always stands at the top of the country in attracting foreign direct investment (FDI), however, the results of investment in high technology and supporting industries are still limited. Therefore, one of the province's top priorities is to boost the attraction of FDI into high-tech industrial sectors, sectors identified to drive sustainable economic and social development of the province.

Eastern International University builds an innovative ecosystem to train high-quality human resources to meet the needs of the 4th industrial revolution in Binh Duong

Expectations of high-tech industry

By now, Binh Duong has had 29 industrial parks established out of a total of 34 planned IZs. The province's IZs all have high occupancy rates, but local enterprises mainly operate in labor-intensive but low value-added sectors.

According to Mr. Nguyen Thanh Toan, Director of the Department of Industry and Trade, the dependence on imported raw materials is still a weakness of the local industry. Binh Duong is continuing to restructure the local industrial network, upgrading existing industrial zones into smart industrial zones to focus on modernizing existing industries, developing supporting industries to increase localization rates, creating conditions to leverage the resources of the entire society to participate in the development process.

Mr. Mai Hung Dung, Member of the Provincial Party Committee's Standing Committee, Deputy Chairman of the Provincial People's Committee, said that Binh Duong province is orienting towards attracting high-tech investment in the near future and has already focused on many solutions through the "Smart City" Project. Accordingly, Binh Duong is creating conditions for THACO Industries Company to soon build the Mechanical and Industrial Supporting Industrial Park with an investment capital of 26,000 billion VND (equivalent to 1 billion USD) in the province. This mechanical industrial park will not only serve the automotive industry but also expand into many other industrial fields. The establishment of Mechanical and Industrial Support Industrial Zones will contribute to solving the shortage of raw materials, saving time, transportation costs, while creating opportunities, helping domestic business community grow stronger, deeply participating in the global production chain.

Tapping potentials and advantages

To prioritize the development and elevate the industrial sector of the province, Binh Duong has been forming a number of industrial zones, inter-sector industrial clusters. Up to now, there have been many industrial projects, supporting industries from large corporations worldwide being implemented in the province.

In attracting investment, Binh Duong also chooses, prioritizes investors with vision, strong application of high technology linked to environmental protection. Cicor Group (Switzerland) is one of the fastest growing electronics manufacturing companies in Europe, specializing deeply in high technology. By now, the Cicor (Vietnam) factories in Binh Duong have reached a level of production on par with global standards, comparable to factories in Switzerland, Germany, and the United States. Making statement at the recent investment promotion conference in Binh Duong, Mr. Nguyen Trong Luat, General Director of Cicor Vietnam, shared that Circo has been present in Binh Duong since 1999, understanding very well the dynamism and creativity of the provincial leadership and the attention and support of departments and sectors. Circo has built its 4th factory in Binh Duong with an area of 12,000 square meters, not only doubling the production capacity of the group in Vietnam but also further developing technical capabilities.

According to Mr. Nagato Takahiko, Chairman of the Japanese Business Association in Binh Duong, Binh Duong is a locality chosen by Japanese businesses to invest heavily in the industrial sector. Specifically, in the fields of industrial production supporting sectors such as machinery manufacturing, electronics, deep processing. Japanese businesses investing in Binh Duong are always cared for by local leaders and provided with the best conditions for development.

Mr. Mai Hung Dung said that to develop sustainable industry, to go deep, Binh Duong is determined to realize the goal of building the province into a modern industrial center. In the coming time, Binh Duong will continue to prioritize the development of industries with high value-added content, gradually increasing the rate of localization of products. In which, emphasis is placed on prioritizing the development of industries, completing the planning of raw material areas and supporting industrial zones early, creating favorable conditions for attracting investment, expanding production, and business operations of projects in the high technology sector.

Binh Duong is focusing on building a smart city and a Science and Technology Industrial Park. In addition, the province is also making efforts to improve infrastructure, develop industrial parks to connect regional transportation, especially key arterial roads connecting to airports, seaports to shorten time, save transportation costs for businesses.

Reported by Ngoc Thanh – Translated by Vi Bao