Removing "logistics bottlenecks" to boost investment attraction

The rapid growth of the industrial and trade-services sectors has been a strong driving force propelling Bình Dương to become one of Vietnam’s leading localities in logistics service development. As a result, FDI inflows into the province have been improved in quality, demonstrating the successful exploitation of the local potential and advantages in the context of deepening international economic integration.

Improving logistics capability

According to provincial logistics service development plan by 2025, with a vision to 2030 and 2045, Bình Dương aims at becoming a satellite center, a hub for goods collection, concentrating logistics services for goods production activities in industrial parks and compounds in the region. The development of the logistics system is based on the perspective that it is one of the province's key economic sectors. To achieve this goal, Bình Dương is determined to gradually remove "bottlenecks", especially in infrastructure, to enhance the competitiveness of logistics enterprises, develop logistics services, create connections between localities, contributing to production growth, domestic and export-import goods circulation, and attract investment effectively.

Binh Duong makes efforts in enhancing the local logistics competitiveness

Nguyen Van Danh, Vice Chairman of provincial People's Committee stated that Bình Dương has effectively leveraged its geographical advantages and invested in a synchronized and increasingly complete traffice infrastructure system. The rapid development of the industrial and trade-services sectors has created a strong impetus for Binh Duong to rise to become one of the country’s leading provinces in logistics services.

Binh Duong is also focusing on implementing key traffic projects such as belt roads 3 and 4 in Ho Chi Minh city, Ho Chi Minh city - Thu Dau Mot - Chon Thanh expressway, coordinating with relevant units to implement the Bach Dang 2 Bridge project connecting Bình Dương - Dong Nai, and raising the clearance height of Binh Trieu 1 Bridge over the Saigon River. The province is also paying attention to promoting rail, road and waterway projects to connect with key national infrastructure in the Southeastern region. Additionally, the province is actively supporting enterprises in improving the quality of human resources, applying technology, connecting with businesses in the supply chain, promoting trade and logistics services.

Enhancing competitiveness

Bình Dương has further intensified investment attraction activities, developing logistics infrastructure; drastically implemented and followed provincial planning for the period of 2021-2030, with a vision to 2050 in order to align with the national overall planning. The province is also focusing on attracting investment, especially from businesses with logistics capability, building planned logistics centers.

Foreign investors emphasized that no investor wants to move to a new location that is not conducive to the transportation of raw materials and goods. Therefore, the logistics system for transporting goods requires cost optimization for exports. At the inaugural ceremony of the customs clearance site at Thanh Phuoc port, Geoff Hawkes, CEO of Rochdale Spears Co., Ltd. shared that it was a significant leap in simplifying export-import processes for businesses.

Representatives from associations of businesses and industries stated that customs clearance at Thanh Phuoc Port not only benefits individual businesses, but also facilitates the entire business community in Tan Uyen city while  enhancing the export-import environment, attracting new investment flows, creating jobs for workers and contributing to the overall development of the locality.

Binh Duong is currently one of the most dynamically developing localities in the Southern region and the whole country, with the establishment of 33 industrial parks and 12 concentrated industrial compounds, attracting enterprises, especially FDI ones. As of May 31, 2024, the total export-import turnover of businesses in the province reached US$ 23.7 billion, ranking third nationwide. Thanks to these advantages, logistics service businesses in the province have developed rapidly in both quantity and quality. The system of warehouses, yards and transport vehicles is continuously being newly invested, expanded and upgraded to meet the requirements of goods circulation domestically and internationally.

Nguyen Van Danh, Vice Chairman of provincial People’s Committee noted that logistics services are currently one of the sectors that Bình Dương is focusing on investing in. Logistics investment projects in the province are under the larger and larger scale, highly specialized, gradually meeting development needs. With the desire of finding suitable projects and potential partners to develop quality logistics, Binh Duong continues strengthening activities on investment attraction and infrastructure development.

Reported by Ngoc Thanh-Translated by Kim Tin