New generation FDI in expectation

Focused on attracting new generation foreign direct investment (FDI), Binh Duong not only aims to become one of the dynamic and comprehensive development centers of the country and the Southeast Asia region, but also creates momentum for building a synchronized, modern, intelligent, and sustainable economic-social infrastructure and urban development system according to the green growth model.

Binh Duong is focusing on developing green and smart industrial park models to attract high-quality investment capital. In the picture: Vietnam - Singapore Industrial Park.

The development of new ecosystem

The provincial planning of Binh Duong for the period 2021-2030, with a vision until 2050, identifies the innovation of the development ecosystem as one of the five key tasks and a breakthrough in development. In the task of innovating the development ecosystem, the focus is on successfully transforming the growth model from width to depth through innovation, modern science and technology, along with widespread digital transformation in production and management, enhancing the quality and efficiency of growth. The objective of this mission is also to identify priority sectors and fields for attracting FDI into the province in the new phase.

According to investors, Binh Duong has a good planning vision as infrastructure is continuously being built and improved; always oriented towards connecting with the key economic region in the South through National Highway 13, My Phuoc - Tan Van route. Most industrial parks in the province are planned and oriented towards modern and high-quality construction.

Professor - Dr. Tran Tho Dat, Chairman of the Scientific Council, National Economics University, believes that Binh Duong has actively and boldly seized the opportunity to exploit favorable geographical factors, effectively implemented administrative procedure reforms, and created an open environment... to establish the Binh Duong brand in attracting investment. However, attracting FDI into high-tech industries in Binh Duong is still not prominent. In the context of the ongoing fourth industrial revolution, Binh Duong needs to supplement new policies to increase the effectiveness of attracting FDI into high-tech industries.

Mr. Mai Hung Dung, Member of the Provincial Party Committee, Deputy Permanent Chairman of the Provincial People's Committee, said that Binh Duong has been developing a new type of ecosystem. The new development model, complementing the Industrial - Urban - Service model, is an innovative and scientific-technological ecosystem, constructing smart industrial parks, eco-friendly smart cities, and sustainable development, elevating Binh Duong's industrial sector to a higher segment, gradually building a new economic development momentum to replace labor-intensive and land-intensive practices, actively participating in the process of achieving net-zero emissions by 2050 as committed by the Government of Vietnam.

Ready for smart investment luring

According to the provincial planning for the period 2021-2030, with a vision towards 2050, Binh Duong will continue to invest in new and expanded existing industrial parks, but with higher standards in terms of science and technology, environmental protection, and a focus on attracting industries that bring high added value and meet increasingly stringent standards of international investors.

Mr. Pham Trong Nhan, Director of the Department of Planning and Investment, said that in the period 2020-2025, Binh Duong aims to attract 9 billion USD of FDI capital with a priority for attracting FDI investment in high technology application, using less labor and achieving high added value. Binh Duong persists in the viewpoint of selectively attracting FDI, aiming for quality and efficiency, with a focus on potential partners from Europe, Japan, Singapore, South Korea... to cooperate and receive technology transfer, and leverage the spillover effects to the domestic industry.

From an investor's perspective, Ms. Bonnie Tu, Chairwoman of Giant Group (Taiwan, China), said that besides the geographical location factor, the synchronized infrastructure, and the high evaluation of Binh Duong's advantages, the potential and development space of modern industrial parks are increasingly being recognized. In the near future, Giant Group will continue to expand production in Binh Duong. In addition to the factory with an investment of 60 million US dollars in Vietnam - Singapore Industrial Park 2-A, the corporation will invest in building another production plant in Vietnam - Singapore Industrial Park 3 with a capital of about 120 million USD.

According to experts, upgrading existing industrial parks, building new green and smart industrial parks with the ability to provide 4.0 technology platforms such as IoT, Big Data... helps investors easily deploy smart factory models, quickly and efficiently produce smart products, and contribute to increasing labor productivity in the province. From there, it helps Binh Duong move towards developing industrial parks - urban areas - services associated with science and technology. This is considered a comprehensive ecosystem development model serving the development of industrial parks, a point of difference, creating the best added value for investors.

Mr. Mai Hung Dung, Deputy Chairman of the Provincial People's Committee, said that Binh Duong has been successful in attracting FDI and is a typical locality in terms of attracting FDI and developing the country's industry. In the new phase, Binh Duong needs to aim at attracting more selectively chosen FDI capital. Along with that, the development of the simple industrial park model into a green and intelligent industrial park model is an important direction for Binh Duong to prepare the most favorable conditions for investors, aiming to attract new generation investors focusing on deep knowledge, science and technology, bringing higher added value, contributing to building Binh Duong into a smart, modern and sustainable city.

After the green project from Lego, many investors also have "green" commitments when researching and investing in Binh Duong. Specifically, companies such as Pandora Group (Denmark), SEP Group (South Korea), A.P Moller Maersk Group (Denmark)... all commit to minimizing environmental impacts, using clean fuel, green fuel in operation, aiming for sustainable development, and creating values for the community. Along with that, to specify the cooperation agreements, large corporations with global brands such as Warburg Pincus, Sembcorp, Tokyu, CapitaLand Development, Aeon etc. all commit to bringing high technology into investment projects in Binh Duong. This is also the field that Binh Duong desires to attract investment in the new period.

Reported by Ngoc Thanh – Translated by Vi Bao