So far, industrial and urban parks invested by Investment and Industrial Development One Member Limited Corporation (Becamex IDC) have attracted 950 FDI projects with total investment capital of more than US$9.5bln. This has contributed to promoting Binh Duong’s socio-economic development.

Strong investment in industrial parks

In Q1 2014, province-based Vietnam-Singapore Industrial Parks (Ips) established by a joint venture between Becamex IDC and Singapore lured nearly US$441mln, up 388% compared to the corresponding period last year. There were 7 new FDI projects with total registered capital of US$45.6mln and 10 extra-ones with more than US$395mln. So far, these Ips have absorbed nearly 400 valid domestic and FDI projects, including 372 FDI projects with total registered capital of more than US$5.2bln and more than 20 domestic ones with total registered capital of VND3.834trillion. 

Industrial manufacture at My Phuoc IP invested by Becamex IDC

Meanwhile, My Phuoc 1,2 and 3 Ips invested by Becamex IDC have so far drawn 352 FDI projects from many countries and territories with nearly US$2.8bln. Bau Bang IP has also lured 38 FDI projects capitalized at more than US$236mln. According to representatives of many enterprises, Ips invested by Becamex IDC have well-built infrastructure facilities, a favorable traffic system, an abundant workforce…All are important elements for enterprises deciding to make investment in these Ips.

These Ips have till now lured nearly 950 FDI projects with total registered capital of more than US$9.5bln. This is a key source for Binh Duong to promote the local socio-economic development and it will also help Binh Duong become one of the country’s great economic hubs..

Speeding up urban and service development

Urban and service fields invested by Becamex IDC have recently lured many projects. The 226-hectare EcoLakes My Phuoc urban area in Ben Cat town-based My Phuoc ward is a typical example for this. This project is developed by Setia Becamex, a joint venture of Malaysia’s SP Setia Berhad and Becamex with total investment capital of US$620mln. Since 2010, the investor of the EcoLakes My Phuoc urban area has handed over many houses to clients, initially meeting the demand for housing of people from all strata and improving the face of the local urban environment.

The US$1.2 bln Tokyu Binh Duong Garden City is the province’s biggest urban project and the biggest FDI project, began construction in March 2012. It is invested by the Becamex Tokyu Co., Ltd – a joint venture between the Becamex IDC and Japan’s Tokyu Group. The 71.5 hectare project will feature 7,500 apartments plus entertainment areas, shopping centers and offices. It is expected that Sora Gardens I, the first project of Tokyu Binh Duong Garden City will be put into operation in Q3 2014. This is not only Vietnam’s top urban area, creating a highlight for Binh Duong New City, but also contributes to luring FDI capital from groups, especially those from Japan.

Along with urban infrastructure development, foreign investors have also paid attention to many other fields in Binh Duong. Becamex Tokyu Bus Company, a subsidiary of Becamex Tokyu Joint Venture received an investment certificate from provincial People’s Committee with total investment capital of US$2mln to provide a bus service that is "safe, comfortable and punctual". According to representative of the company,  Becamex Tokyu is preparing to start operating its bus route connecting Binh Duong New City and Thu Dau Mot City....

Good results in investment attraction at industrial and urban projects invested by Becamex IDC have showed that along with profit, Becamex IDC’s production and business goal is to create a sustainable development for Binh Duong, contributing to the development of the southern key economic zone and the whole country. This has also affirmed the importance of Becamex IDC in promoting Binh Duong’s comprehensive socio-economic development.

Reported by Ve Giang-Translated by K.T