Production and business in industrial parks are flourishing

Over the first 6 months of 2022, industrial parks in the province effectively attracted investment, production business activities of enterprises recovered well. With many supporting solutions of the province, enterprises’ effort to overcome difficulties of, business communities in industrial parks is accelerating production business activities, contributing to economic growth and job creation for local workers.

Enterprises in industrial parks of the province strive to maintain production and business stability in the first months of 2022. In photo: Manufacture at Kumho Vietnam Tire Company (My Phuoc 3 Industrial Park).

Production and business recovery

As soon as the Covid-19 outbreak in the province was under control, to implement the Government's strategy of safe, flexible adaptation and effective control of the disease, enterprises in provincial industrial parks quickly strengthened their organization, recruited more workers, resumed some production lines. In particular, many businesses expanded consumption markets, looking for more orders in many different countries.

In addition, many FDI enterprises are also rushing to invest in modern machinery and production lines, expand production and factories to increase productivity, such as Giant Manufacturing Vietnam Company produces bicycles without engines; Longood Smart Electronics Industry Company (Vietnam) manufactures and assembles electronic boards; BW Bau Bang Industrial Development Project; Binh Duong Steel Industry Company; Saigon Stec Company invested in machinery to produce electronic components; Polytex Far Eastern Company (Vietnam) produces yarns...

According to Management Board of provincial industrial parks, up to now, all businesses in provincial industrial zones have stable production and business activities, many targets achieved good results in the first months of 2022. Accordingly, revenue of enterprises in provincial industrial zones reached 21.3 billion USD, up 26.35% over the same period last year; export turnover reached 14.2 billion USD, up 27.26%; import turnover reached 13.8 billion USD, up 28.82% over the same period in 2021... Assessing the outlook for the third quarter and the whole year of 2022, many enterprises believed that the production and business situation would be more stable. Among FDI enterprises operating in the province, more than 87% of enterprises believe that the production and business situation in the third quarter would be stable and better than in the second quarter.

Kitagawa Norukazu, Director of Panasonic Life Solutions Vietnam (Vietnam - Singapore II-A Industrial Park), said that the disease situation in the province had been under control. Binh Duong is resuming production, business, and global supply chain activities have been opened up; many enterprises in Binh Duong are expected to expand production through the sharp increase of new orders in the third quarter. Currently, the company continuously receives many large export orders, hence factories are operating at full capacity to meet these orders.

Effective investment attraction

Industrial parks of the province have synchronous and modern infrastructure, favorable locations, are connected to important traffic axes with Ho Chi Minh City and surrounding regions. Therefore, provincial industrial parks have attracted investment of many large enterprises and multinational corporations. As a result, over the first 6 months of 2022, despite many difficulties and fluctuations of the world’s economy, bad effects of the Covid-19 pandemic in terms of supply and demand, FDI capital continued to flow strongly into the province, provincial industrial index continued to grow well.

According to the Management Board of provincial industrial parks, up to now, the total number of planned industrial parks in the province is 33, with a total planned area of 15,790 hectares. The province has established 29 industrial parks with a total area of more than 12,662 hectares; of which 27 industrial parks have been put into operation with a total area of more than 10,962 hectares, 2 industrial parks were approved by the Prime Minister to adjust the investment policy (VSIP 3 and Cay Truong Industrial Park), with a total area of 1,700 hectares. Besides, the province will re-plan existing industrial zones to increase the efficiency of land use...

In the first 6 months of 2022, industrial zones in Binh Duong attracted 2.3 billion USD of FDI capital, reaching 192% of the annual plan; at the same time, these industrial zones also attracted VND9,935 billion of domestic investment capital, reaching 903% of the annual plan. Industrial zones in Binh Duong have attracted accumulatively 3,021 valid projects, including 2,347 FDI projects with a total registered capital of 28 billion USD, and 674 domestic investment projects with a total registered capital of 87,796 billion VND. Most large enterprises investing in Binh Duong choose concentrated industrial zones. Not only attracting capital, industrial parks also contribute significantly to the State budget, create more jobs for workers, develop the industry...

With many positive and effective solutions of the province to accompany enterprises, enterprises in general and enterprises in the provincial industrial parks in particular still retain a good production and business rhythm, create added value of products, contributing to the overall growth of the province. As a result, the province's industrial production over the first 6 months of 2022 had a good recovery with an increase of 8.35% over the same period in 2021. This excellent result contributes significantly to overall growth and is a driving force for the province's economy to recover quickly and sustainably.

Nguyen Thanh Nhan, Deputy Head of the Management Board of provincial industrial parks, said that this was the result of enterprises’ effort to overcome difficulties, the effectiveness of the policy on safe and flexible adaptation, effective control of Covid-19 and socio-economic recovery, development solutions, effort to solve difficulties of enterprises according to resolutions of the Government and provinces. In the coming time, industrial zones in the province will prepare land, infrastructure and human resources to receive more and more high-quality foreign investment flows into the province. Besides, industrial zones in the province continue to implement synchronous solutions for socio-economic recovery and development, support enterprises to make industrial production a growth motivation, contributing to the completion of targets set out in 2022.

Reported by Ngoc Thanh – Translated by Ngoc Huynh