Northern areas of the province strongly attract investments

Update: 10-10-2023 | 12:23:08

With a convenient location, large, airy land fund, connected transport infrastructure and modern industrial parks, it is creating a strong attraction for domestic and foreign investors to the northern part of the province.

To create a breakthrough for northern localities, in recent times, the province has focused on developing and upgrading transportation and industrial infrastructure to meet demand. In photo: Bau Bang Industrial Park infrastructure is invested synchronously, modernly, and connected.

Practical results

The province's policy of shifting industrial development to the north with industrial parks as leverage has been effective, most notably in Ben Cat Town. With a convenient location, large land fund, and preferential policies, industrial parks of Ben Cat Town have been creating a strong attraction for investors. Up to now, Ben Cat Town has attracted 6,520 projects, of which domestic investment is over 5,450 projects with a total registered capital of nearly VND64,300 billion, foreign investment is over 800 projects with a total registered capital of nearly US$10 billion.

According to Nguyen Trong An, Chairman of Ben Cat Town People's Committee, after implementing the policy of bringing industry to the northern districts of the province, Ben Cat's economy has really prospered. The town has now 8 industrial parks, helping Ben Cat attract nearly US$10 billion in FDI capital. It is the industrial parks that have helped the town quickly transition from agriculture to industry, facilitating urban development, trade and services, creating conditions for people to produce and do business. According to the plan, Ben Cat Town will establish some new industrial clusters, expand Thoi Hoa Industrial Park, My Phuoc 1 Industrial Park, My Phuoc 2 Industrial Park, a part of Tan Binh Industrial Park of about 135 hectares, and other industrial parks.

As for Bau Bang district, thanks to this policy, in recent years the district has invested in upgrading a strong urban infrastructure system with many completed ring and radial road projects, making Bau Bang a northern industrial center of the province. The development of industrial parks has helped Bau Bang district change its economic structure with increasingly strong industrial development.

Over the first 9 months of 2023, Bau Bang district attracted 66 new registered projects. Of which, there were 58 domestic investment projects, with a total registered capital of nearly VND400 billion; 8 newly registered FDI projects, with a total registered capital of US$19.82 million, 8 projects with additional capital of US$12.525 million. Accumulated up to now, there are 1,443 projects in the district. Of which, domestic investment has 1,214 projects with a total registered capital of nearly VND32,536 billion, FDI has 229 projects with a total registered capital of nearly US$4.5 billion.

Vo Thanh Giau, Chairman of Bau Bang District People's Committee, said that over the first 9 months of 2023, the district People's Committee has focused on directing and supporting branches and localities to achieve some positive results. The district's economy continued to grow according to the plan. Compensation and clearance work received attention and was carried out according to the direction of the province, especially the North Tan Uyen - Phu Giao - Bau Bang highway project is speeding up, DH 618 road has completed site clearance work, hand over lands to construction.

Increase new attraction

Binh Duong is making a planning the province for the period 2021-2030, with a vision to 2050. It is expected to continue new investment and expansion of existing industrial parks but towards higher standards of science, technology, and environmental protection, focus on attracting industries that bring high added value and meet the increasingly strict standards of international investors. The policy of shifting industrial development to the North has been effective, helping localities develop industry very quickly.

According to experts, in the next few years, Bau Bang, Phu Giao and Dau Tieng will have industrial parks applying 4.0 smart, modern and specialized technology. This is said to be the factor that creates a different urban face for Binh Duong in general and the Northern part of the province in particular.

Mai Ba Truoc, Secretary of Dau Tieng District Party Committee, shared that Dau Tieng is trying to speed up the progress of planning, construction and infrastructure development, creating a foundation to attract investment and facilitate economic development. In the immediate future, the district focuses on site clearance to soon put into construction roads connecting to Ben Cat, Bau Bang, Ho Chi Minh City and Tay Ninh province. These routes, once completed, will be an important bridge to attract investors to Dau Tieng district.

Meanwhile, Phu Giao district’s planning of 5 industrial clusters was also approved, namely Tam Lap 1, 2, 3, 4 and Phuoc Hoa with a total area of more than 307 hectares. Tam Lap 1 industrial cluster with an area of more than 68 hectares has been under construction and has investors. In particular, at Tam Lap 2 Industrial Complex, SEP Group (Korea) plans to invest more than US$200 million to establish a carbon neutral industrial complex specializing in footwear industry and Vietnam's first carbon reduction infrastructure on an area of 180 hectares.

Recently, the province approved the planning project of Cay Truong Industrial Park of 700 hectares in Bau Bang. Currently, this industrial park is fulfilling investment procedures to complete infrastructure, make clean sites to welcome new capital flows. Thus, up to now the total area of industrial land developed in this locality is 1,687 hectares. The district's transportation system is invested, upgraded, and gradually expanded in the East-West and North-South directions to connect regions, creating a synchronous and smooth transportation network and creating favorable conditions for attracting investment and development.

According to Provincial Department of Planning and Investment, implementing the policy of bringing industry to the North of the province will create a driving force for development in Northern localities, and at the same time change the development trend in dynamic cities in the South. The infrastructure of industrial parks and transportation in the Northern districts are being completed and ready to welcome businesses and investors. Therefore, it is necessary to urgently research and make policies and plans to encourage businesses to resettle in new areas.

Reported by Ngoc Thanh - Translated by Ngoc Huynh

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Northern areas of the province strongly attract investments

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