Investment attracted, development of trade and services elevated

To develop sustainably, alongside the industrial sector, Binh Duong is focusing on attracting investment in high-quality commercial and service sectors, meeting the requirements according to the Binh Duong provincial Planning for 2021-2030, with a vision towards 2050 (referred to as the provincial Planning).

Binh Duong is well prepared in all aspects to develop the commercial and service sectors in depth. In the picture: Construction area of WTC Binh Duong Complex. Photo: Tieu My

New foundation created

Up to now, many major investors in the commercial and service sectors have been present in Binh Duong, including Aeon, Lotte, MM Mega Market, Co.opmart etc. This has affirmed that Binh Duong not only attracts many investors in the industrial sector but also in other fields, including commerce and services.

At the recent provincial planning announcement event, provincial leaders awarded investment registration certificates to 8 projects with a total capital of around 1.8 billion USD. Among these are urban development projects, such as the North An Tay Urban Area project with a total investment of over 451 million USD, the East An Tay Urban Area project with a total investment of 550 million USD, and the high-end apartment complex combined with commercial and service facilities along the Saigon River with a total investment of over 141 million USD. The development of urban areas is the foundation for attracting investment and deepening the commercial and service sectors.

Notably, one of the key projects inaugurated on the occasion of the announcement of the provincial planning is the WTC Binh Duong Complex (in Hoa Phu Ward, Thu Dau Mot City). The project includes a shopping center; arts, culture, and sports center (cinema, indoor playground, conference office, indoor sports area etc.); a complex of buildings (commercial offices, hotels); a large square; a fountain; and the central Metro station of the new Binh Duong City. The project is invested by Becamex IDC. This is a complex area with an area of 168,000m2, expected to attract more investment capital, technology, and experts from both domestic and foreign countries.

Bà Huỳnh Đinh Thái Linh, CEO of WTC Binh Duong, said that with the highest urbanization rate in the country, Binh Duong has more potential and opportunities for breakthroughs in commercial development, services, urban areas, and financial investment. The formation of the WTC Binh Duong complex will be a bright spot, becoming a center for international trade.

Aeon Mall Binh Duong Canary – a shopping center in Thuan An city invested by Japanese investors has been operating for many years in Binh Duong

The promotion of sustainable development

To effectively implement Program No. 20/CTr-TU dated May 31, 2021 of the provincial Party Committee on concentrating on developing high-quality service sectors to meet the requirements of industrial and urban development towards civilization and modernity in 2021-2025, with orientation to 2025-2030 and vision to 2045, Binh Duong focuses on mobilizing resources to invest in transportation infrastructure, developing high-quality commerce and services linked to industrial and urban development, and enhancing the quality of human resources. Mr. Nguyen Truong Thi, Deputy Director of the Department of Industry and Trade, said that in accordance with the province's directions, the department has been mobilizing resources to develop high-quality services in the field of industry and trade, such as modern commerce, logistics, and industrial support services. This contributes to leading and supporting the development of industry, urban areas, innovative growth models, enhancing competitiveness, and promoting comprehensive and sustainable economic development in all sectors.

The provincial leadership stated that in order to fully exploit the advantages of the province in developing high-quality trade and services, Binh Duong is vigorously implementing and closely following the provincial plan to align with the overall national plan. By doing so, Binh Duong mobilizes resources to invest in the transportation infrastructure system, a system of high-end commercial centers, modern financial centers, logistics centers, scientific and technological services and innovative innovations with regional reach, social security services; developing high-quality trade and services associated with industrial and urban development, and enhancing the quality of human resources.

Binh Duong is actively coordinating with the Ministry of Transport and localities in the Southeast region to soon build a connected transportation system; focusing resources on developing the planned regional transportation system. Binh Duong is accelerating the implementation of key transportation projects that connect the region, including the Vanh Dai 3 of Ho Chi Minh City, the Vanh Dai 4 of Ho Chi Minh City, the expressway from Ho Chi Minh City to Thu Dau Mot - Chon Thanh, and the upgrade and expansion of National Highway 13. This is the projects are expected to improve and upgrade urban infrastructure to attract investment capital into Binh Duong, including the commercial and service sector in the near future.

From now to 2030, Binh Duong focuses on developing industrial and technological urban areas while coordinating the construction and completion of inter-regional connectivity infrastructure projects, constructing and developing complex centers for urban-industrial-service areas at the regional level, thereby creating momentum for economic restructuring, and constructing and completing the provincial-level infrastructure system.

Reported by Ngoc Thanh – Translated by Vi Bao