Unleashing all resources for sustainable development

Part 2: Raising development of Ips

With preferential policies, favorable infrastructure conditions plus open and transparent administrative procedures, the province's industrial parks (IPs) have continued becoming attractive destinations for investors, especially foreign ones. The province is mobilized all resources for building a modern and synchronous infrastructure system of Ips in order to take advantage of opportunities to attract investment projects effectively.

Attraction from sustainability

According to provincial Industrial Parks ‘Management Board, domestic and foreign investment projects have played an important role in promoting the local socio-economic development. With preferential policies, favorable conditions on infrastructure plus open and transparent administrative procedures, the province's Ips have continued becoming attractive destinations for investors, especially foreign ones. The results of attracting domestic and foreign investment into the province for economic development, especially into Ips over the past time achieved many important results, contributing to accelerating the process of industrialization and modernization, turning Binh Duong into an industrial province.

VSIP I is synchronous with infrastructure, green, clean and beautiful in association with the local urban development

Binh Duong currently accounts for 9% in number and 13% in area of the whole country’s Ips. Up to now, the province has established 29 IPs, with a total planning area of ​​over 12,670 hectares. Of there, there are 27 Ips in operation with 10,624 hectares in total and land tenancy rate of 90%. Province-based Ips have so far attracted 2,342 FDI projects with total registered investment capital of US$ 26 billion and 672 domestic investment projects with a total registered investment capital of nearly VND 87 trillion.

With the view of taking infrastructure as an advantage to attract investors, Binh Duong has always focused on developing comprehensive socio-economic infrastructure. Binh Duong has been the country’s leading locality in terms of infrastructure index under the annual Provincial Competitiveness Index (PCI) report conducted by the Vietnam Chamber of Commerce and Industry (VCCI).

According to Bui Minh Tri, Head of provincial Industrial Parks’ Management Board, the province has soon attached special importance to developing a synchronous traffic system, building Ips’infrastructure in association with urbanization, creating a driving force for the local socio-economic development. The birth of Ips  has created a premise for the province to promote trade, service activities and urban development. With a  synchronous and modern infrastructure system plus favorable position connecting important traffic axes with Ho Chi Minh city and surrounding areas, province-based Ips have attracted many large-scale enterprises and corporations. Upon these advantages, although facing many difficulties from Covid-19 pandemic, in 2021 and the first months of 2022, the province has strongly absorbed FDI capital, helping the local index of industrial production further reach good growth.

Towards new industrial ecosystem

With experience in construction of IP infrastructure during the past long journey, the province is planning for the period of 2021-2030, with a vision to 2050. It is expected that the province will continue building and expanding its Ips towards higher standards in science and technology, environmental protection while attaching special importance to  industries with high added value at increasingly stringent standards of international investors.

Prof. Dr.Tran Dinh Thien, former Director of the Vietnam Institute of Economics said that the "groundbreaking" event of the new VSIP 3 is also a way of declaring the determination to build up a new industrial ecosystem - an industrial ecosystem with high technology that is different in quality from the "old industrial ecosystem" developed in Binh Duong with the VSIP 1 and VSIP 2 generations. Changing the strategy of FDI attraction, shifting to prioritizing FDI with high technology, high added value, low environmental pollution, together with the strategy to promote the industrial revolution 4.0 and develop the digital economy has also only been confirmed in terms of guideline in recent years. Binh Duong is one of the country’s few localities "getting ahead" in this choice of change.

Speaking at the groundbreaking ceremony of VSIP 3 Industrial Park, Prime Minister Pham Minh Chinh said that Binh Duong is a locality with the most VSIPs in Vietnam and each project marks a new development step, especially the VSIP 3 project that is deployed in the direction of being greener, smarter, more sustainable and more inclusive, from width to depth, from quantity to quality, in line with the trend of the world and Vietnam.

Mai Hung Dung, member of provincial Party Standing Committee, Permanent Vice-Chairman of provincial People's Committee said that with development orientation to 2025, with a vision to 2030, Binh Duong aims at developing sustainable IPs under the "3-in-1" model (IP - urban area - service area) with a synchronous and modern infrastructure system. Therefore, Binh Duong has built many preferential policies to support investment in Ips while actively supporting and removing obstacles in legal procedures on land for secondary investors in IPs.

“Binh Duong is focusing on implementing the right roadmap to build a smart city in order to attract domestic and foreign investment in high-tech industries that are less labor-intensive and environmentally friendly...For sustainable industrial development, creating breakthroughs in production, infrastructure as the foundation for the formation of an innovative ecosystem, attracting investment with high added value, creating a premise for high-tech production, the province has developed the "Innovation Region" project, including a science and technology IP in Bau Bang district. In the new period, Binh Duong locates a new segment that is industrial development in association with sci-tech development and innovation", emphasized Mr. Dung. (to be continued)

Reported by Ngoc Thanh-Translated by Kim Tin