Local IPs exceed many important targets

Update: 30-11-2022 | 11:30:21

With many positive and effective solutions, accompanying enterprises, province-based industrial parks (IPs) exceeded many important targets. Accordingly, all 13 targets met and exceeded the set plan. Production and business activities of enterprises in the local IPs were maintained quite stable with domestic and FDI attraction on sharp increase.

Overcoming difficulties, growing

Kim Hyun Ho, General Director of Kumho Co., Ltd., said that in addition to maintaining production, the company has continued expanding its scale and recruiting additional 400 workers. According to the plan, this year the company will grow by 30%, with capacity of 26,000-28,000 tires per day. The company has accelerated its expansion project, aiming at raising production output to 36,000 tires per day in 2023.

Production activities at KyungBang Vietnam Co., Ltd. in Bau Bang IP

According to provincial IPs’Management Board, up to now, most enterprises in the local IPs have worked stably and effectively. In 2022, their revenue was estimated at reaching nearly US$ 39.4 billion, up 12% over the same period; export turnover was more than US$ 23.2 billion, up 11% over the same period; import value was more than US$ 20.7 billion, up 11% over the same period; taxes and State budget payments were US$564 million. They also created jobs for 503,710 workers, an increase of 21,438 compared to 2021; the average income of direct workers was VND 7.3 million per personper month.

Assessing the achieved results, Nguyen Trung Tin, Head of provincial IPs’ Management Board said that in 2022, despite many difficulties, under the leadership of provincial Party Committee, People's Committee, the coordination of sectors, localities, the efforts by the business community, the local IPs maintained stability with development in accordance with the proposed orientations. Production and business activities of enterprises in the local IPs were maintained, promoting their advantages and achieving positive results. All 13 targets met and exceeded the set plan with domestic and foreign investment attraction on sharp increase.

New expectations

According to the plan approved by the Prime Minister, Binh Duong has 33 IPs with a total area of 14,790 hectares. Currently, the province has 29 concentrated IPs with a total area of nearly 12,663 hectares, including 27 in operation with a total area of nearly 10,963 hectares, an average occupancy rate of 91.07%. The province is also well preparing conditions on clean land fund, planning for IPs, technology ecosystem, deploying human resource training, building social houses for workers, providing sufficient and timely labor resources for enterprises to make investment here.

With a plan to be a green, clean ecosystem, attracting investment capital in selective production, Bau Bang Industrial Park and expanded Bau Bang Industrial Park attracted many new projects in 2022 with capital of hundreds of millions of USD, namely the second factory project of Paihong Vietnam Co., Ltd (Samoa); the factory project of A.J. Co., Ltd. Plast Vietnam (Thailand)…

Although just being started, VSIP 3 has lured more than 30 corporations and companies interested in learning and developing production. Currently, province-based IPs are also aiming at attracting investment in depth, intelligence and sustainable development. The province is also completing procedures to start the construction of Cay Truong IP with 700 hectares invested by Becamex IDC. Pham Ngoc Thuan, General Director of Becamex IDC shared that Cay Truong IP will be built under the model of a new industrial ecosystem to diversify and best serve the needs of investors. When this IP is put into operation, priority will be given to high-tech industries and less labor intensive ones.

Mr. Tin shared that in order to establish a solid foundation for the sustainable development of the local IPs, in the coming time, provincial IPs’Management Board will further innovate, perfect policies and adjust goals and development orientations to adapt to the new context. From 2020-2025, the province will focus on establishing a science and technology IP with an area of 400 hectares in Bau Bang district while researching plans to upgrade and convert existing industrial parks into the supportive, ecological, innovative, urban and service ones in line with the new orientation of Binh Duong urban area in the 2021- 2030 period, with a vision to 2050.

The production and business targets of enterprises in the local IPs in 2022 all increased in comparision with the same period last year. Particularly, domestic investment attraction was more than VND3.1trillion, or 121.76% of the plan; FDI attraction was US$ 1.7 billion, or 141.65% of the plan; realized investment capital of enterprises was US$ 2 billion, or 148.55% of the plan. Up to now, the local IPs have lured 3,032 valid projects, including 2,353 FDI projects with total registered investment capital of more than US$ 28.1 billion and 679 domestic investment projects with total registered investment capital of VND 88.21trillion.

Reported by Ngoc Thanh-Translated by Kim Tin

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Local IPs exceed many important targets

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