The "Key" to Binh Duong’s double-digit growth

Part 2: Infrastructure breakthroughs, seizing development opportunities

Binh Duong’s recent breakthroughs in traffic and urban infrastructure have become a crucial competitive advantage in attracting investment and driving economic growth. The completion and operation of numerous major projects will serve as a driving force for the province’s strong economic expansion in 2025 and beyond.

Accelerating connectivity projects

On February 1 (the 4th day of the lunar January), Binh Duong held a grand groundbreaking ceremony for the Ho Chi Minh city - Thu Dau Mot - Chon Thanh Expressway segment passing through the province. This is the first expressway connecting Ho Chi Minh city with Binh Duong, Binh Phuoc and the Central Highlands. According to provincial leaders, the commencement of this project marks a significant milestone in Binh Duong’s socio-economic development journey, showcasing the province’s sustainable growth and the strong collaboration between the government, businesses and investors.

Speaking at the groundbreaking ceremony of the project, Prime Minister Pham Minh Chinh praised Binh Duong for celebrating the Lunar New Year and the Party by launching the project, demonstrating a spirit of urgency and efficiency from the beginning of the year. He emphasized that this reflects the province’s proactive and effective working spirit from the beginning of the year. According to the Prime Minister, Binh Duong plays a crucial role in developing infrastructure connectivity for the Southeastern region. He urged the province to take the lead in regional planning and infrastructure development. Regarding the Ho Chi Minh city - Thu Dau Mot - Chon Thanh Expressway, he stressed that this expressway is not only significant for Binh Duong, but also vital for Binh Phuoc and the Central Highlands, driving economic and social growth for the entire region.

With a strong vision and a series of newly completed key projects—including the Bach Dang 2 Bridge (connecting Binh Duong and Dong Nai) and North Tan Uyen - Phu Giao - Bau Bang strategic road—the groundbreaking ceremony of the Ho Chi Minh city – Thu Dau Mot - Chon Thanh Expressway at the start of the year provides a significant boost for Binh Duong’s ambition to achieve double-digit growth in 2025.

The province is actively mobilizing resources to accelerate infrastructure connectivity. Efforts are underway to finalize procedures for the groundbreaking of the Belt Road 4 section passing through Binh Duong while striving to complete the expansion of National Highway 13. Additionally, Binh Duong aims at completing the technical opening of the Belt Road 3 section in time for the 50th anniversary of the reunification of Vietnam on April 30, 2025. These not only strengthen Binh Duong’s appeal to investors and enhance economic and social progress in 2025, but also lay the foundation for the province’s long-term breakthroughs.

Efficient public investment

Through sound policies, Binh Duong has effectively mobilized social resources to develop a modern and synchronous traffic infrastructure, laying a solid foundation for economic growth. The province continues emphasizing public investment as a driving force for private investment, fostering a strong capital flow across the economy. According to Nguyen Thanh Toan, Director of provincial Department of Planning and Investment, Binh Duong’s 2025 public investment plan amounts to VND 36 trillion, focusing on key projects that stimulate and unlock capital from various economic sectors. This capital source will be allocated for investment in driving and key projects that stimulate and open up investment resources from other economic sectors. Binh Duong is further arranging the use of State budget capital to stimulate, facilitate, guide and "prime" capital to attract capital from other economic sectors to spread investment across socio-economic fields.

Dr. Mai Huu Tin, Chairman of Binh Duong Business Federation affirms that double-digit growth in 2025 is achievable, largely driven by this VND 36 trillion public investment. As capital is efficiently disbursed, it will stimulate market demand, boost manufacturing, exports, services, real estate and further accelerate Binh Duong’s economic momentum. When investment capital is strongly disbursed, it will stimulate the growth of other resources, thereby making a positive contribution to the province's double-digit growth plan.

Dr. Tran Du Lich, a member of the National Monetary Policy Advisory Council stated that in order to achieve double-digit growth in 2025, Binh Duong must resolve legal obstacles in investment projects to accelerate capital absorption into the economy, particularly in the real estate sector. A rapid recovery of the real estate market will not only contribute directly to GRDP growth, but also have a widespread impact on other industries. He also emphasized that Binh Duong's total social investment over the past four years remains low compared to the GRDP growth target (1% in 2021, 3% in 2022, 8.5% in 2023, and 11% in 2024). Therefore, effectively utilizing "seed capital" from public investment to attract private capital must be a priority. In 2025, public investment disbursement needs to increase by at least 20% to make a significant contribution to GRDP growth and lay the foundation for even stronger economic expansion in the coming years.

To implement the local plan for double-digit growth in 2025, regarding the public investment leading private investment strategy, provincial People’s Committee has instructed relevant departments to develop comprehensive and decisive solutions to create breakthroughs in infrastructure development. The province is accelerating the construction of key transport projects with regional connectivity such as Belt Roads 3 and 4  of Ho Chi Minh city, the Ho Chi Minh city – Chon Thanh Expressway and the expansion of National Highway 13…to implement Vietnam’s national target of reaching 3,000 km of expressways by the end of 2025 and 5,000 km by 2030. Additionally, provincial People’s Committee has urged swift preparations for key regional traffic projects and urban railway development ones, ensuring faster implementation in the 2026–2030 period to further enhance regional connectivity and economic growth.

Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People’s Committee affirmed that the province’s efforts in regional connectivity have been a comprehensive solution and are expected to leverage its advantages, sustain development momentum and contribute to the socio-economic growth of the Southeastern region.

With the goal of achieving the local double-digit growth in 2025, Binh Duong is accelerating the implementation of several strategic solutions. The province is focusing on three key breakthroughs as outlined in provincial Party Committee’s Resolution No. 17-NQ/TU dated December 6, 2024: mobilizing all investment resources, following the principle of public investment leading private investment; developing a comprehensive traffic infrastructure, including regional and intra-provincial connectivity to maximize the efficiency of highways, belt roads and ensure seamless connectivity with Ho Chi Minh city, seaports and international airports; enhancing implementation efficiency, ensuring clear responsibilities, specific tasks, defined timelines, measurable results and strengthening inspection, supervision.

Reported by Ngoc Thanh-Translated by Kim Tin