Services and urban development strongly attract investment resources

Following the direction of sustainable development, along with attracting investment in modern industry and advanced production, Binh Duong continues to boost investment attraction for commercial development and high-quality services. In particular, priority is given to service industries with high gray matter content, e-commerce, finance, banking, and innovative technologies.

Muraoka Tsugumasa (left end), Governor of Yamaguchi Prefecture (Japan), visits an exhibition booth at World Trade Center in Binh Duong New City.

To meet development needs

Japan is one of the major partners with many large investment projects in commerce - service in Binh Duong. In particular, the Tokyu urban area project of Becamex Tokyu Co., Ltd. has a total registered investment capital of 1.2 billion USD, real estate development and business including commercial centers, services, housing and accommodation, entertainment services... in Binh Duong new city. Completed projects such as Sora Garden 1, 2, The View, Hakura residential area, Hikari commercial area (phase 1), Viet Hoa International School... are promoting its efficiency.

Takahashi Kazuo, General Director of Tokyu Corporation (Japan), said that the group invested in Binh Duong after Becamex Tokyu Co., Ltd. was established in March 2012. Becamex Tokyu is a joint venture between Tokyu Corporation and Becamex IDC Corporation - two large corporations of Japan and Vietnam. Tokyu is currently one of Japan's oldest and largest economic groups, operating in many fields such as railways, transportation, retail systems, culture, and education, among which, the most prominent is urban development.

It is known that in 2023, Becamex Tokyu will continue to build Sora Garden commercial center, Hikari commercial area (phase 2), H9BC apartment building, etc. The group will continue to carry out Sora Garden 3 apartments, Sora Garden park…

Currently, many big commercial names of different countries are present in Binh Duong with high-class facilities and international standards appearing more and more on a large scale, such as Aeon, Lotte, MM Mega Market, Co.opmart Go!Big C etc. gradually improving the quality of business and service forms, contributing to making a facelift and changing the modern shopping habits of people in the province.

It can be clearly seen that, along with industry, the province's urban development, commerce and services are having positive changes. The focus on investment in urban infrastructure and important services associated with smart city development, meets the increasing needs of the population. Some high-quality and potential service industries are gradually forming and developing.

Coming to explore investment opportunities in Binh Duong recently, Bolat Duisenov, CEO of Kusto Vietnam and Chairman of Coteccons Construction Joint Stock Company, said that Kusto is a multi-industry corporation from Kazakhstan. The group is present and operating in 10 countries, has been developing many new real estate projects, gained many successes in logistics investment. Binh Duong is a dynamic and developing province in Vietnam; thus Kusto Group and Coteccons want to join the province in infrastructure development, urban and renewable energy, construction, waste treatment...

Potential and opportunities

After more than 25 years of investment attraction and industrial development, Binh Duong achieved many successes. However, for sustainable and breakthrough development, Binh Duong needs to develop commerce - service with many large projects. This opportunity will expand more and more when Binh Duong is honored for the fifth time in a row as one of 21 cities having typical smart city development strategies in the world.

With 3 cities under the province, Thu Dau Mot, Di An and Thuan An, Binh Duong has more strengths and opportunities to make breakthroughs in service, urban, and commercial development. The New City will continue to play the nuclear role; World Trade Center Binh Duong New City being formed will be the bright spot. National and international events have been well organized in the province, the concentration of investment resources in technical infrastructure works; these have strengthened the spillover effect, met the needs of investors in new areas of industrial development and high-quality services.

The Provincial People's Committee and Gangnam District of Seoul City (RoK) also signed a strategic cooperation agreement to develop international trade promotion, cultural exchange and tourism. Through the cooperation agreement, Binh Duong wishes to develop the friendly relationship and strengthen cooperation between the two sides, while also creating opportunities and enhancing activities through trade promotion and global cultural exchange.

Mai Hung Dung, Member of the Provincial Party Standing Committee, Permanent Vice Chairman of Provincial People's Committee, said that in the past time, the focus on industrial development has caused an imbalance in creating a sustainable living environment and jobs, creating a number of problems and challenges for medical system, education, services... Therefore, Provincial Party Committee and Provincial People's Committee directed to develop breakthrough programs developing the service industry in association with industrial development in the direction of civilization, modernity and sustainability. The most recent is the Program No. 20 of Provincial Party Committee on developing high-quality service industries, meeting the requirements of industrial and urban development in the direction of civilization and modernity in the 2021-2025 period, orientation towards 2025-2030, and vision for 2045.

Mai Hung Dung, Member of Provincial Party Standing Committee, Permanent Vice Chairman of Provincial People's Committee: With the development strategy of "Binh Duong Innovation Region", the province is aiming at a balanced economy by increasing the proportion of services through the construction and development of the World Trade Center Binh Duong New City (WTC Binh Duong New City). Namely, the province focuses on industrial development associated with scientific and technological development; production associated with research and development, high quality education and training; develop trade and services in the direction of connectivity, expand international partnerships to complement the current ecosystem, and narrow the gap between industry and services in the economic structure.

Reported by Ngoc Thanh - Translated by Ngoc Huynh