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Part 1: Industrial park development-a breakthrough

Binh Duong’s economy has over time reached fast growth and become one of the country’s localities with the strongest development in the industrial sector. Industrial parks (IPs) have seen as a lever for the industrial development of Binh Duong.

Products with high competitive value being manufactured in the My Phuoc III Industrial Park

Lever for development

With industrial proportion accounting for 63% of the local economic structure and annual industrial production value getting over VND105bln, Binh Duong has become one of the country’s localities with the highest industrial growth. Industrial park development is seen as a lever for this evolution.

The whole province has so far developed 28 IPs with 8,979 ha in total, 26 of which are operational. Particularly, there are 6 IPs with 654.6ha in Di An town, 9 IPs with over 4,114 ha in Ben Cat district, 3 IPs with nearly 1,752ha in Tan Uyen district and 7 IPs with nearly 1,718ha in the Binh Duong industrial-service-urban complex.

Province-based IPs have absorbed 1,500 investment projects, more than 1,100 of which have been put into operation. Noticeably, investment projects in province-based IPs have diversification in investment fields of agro-forestry-fishery processing, garment-textile, footwear, electricity-electronics, chemicals, cosmetics…They also focus on high-tech industries with products having high value and competitiveness.

According to provincial IPs Management Board, industrial park is actually a place to draw important capital sources for investment and development, tap and raise the effectiveness of the use of domestic resources, contributing to generating jobs for laborers, creating the source of revenue for State budget and improving the international payment balance. It is also an important channel to receive advanced management experience and technologies …

Practical effects

Binh Duong has used its advantages and experience from other localities to promote industrial park development. Consequently, province-based IPs have lured more than 50% out of 2,021 FDI projects with a total registered capital of nearly US$14bln flowing into the province. They have also generated stable jobs for more than 250,000 laborers in and out of the province.

According to the assessment of provincial People’s Committee, the activities of province-based IPs have greatly contributed to the local economic structure shift towards the growth of industry and services. The role of businesses in province-based IPs is also very important, contributing to enhancing technical capacity for the local economy.

Under Binh Duong’s development strategy from now till 2020, industry is seen as a key economic sector to realize the local industrialization and modernization cause. IPs further play an important role in investment attraction. Hence, the province has set the targets of promoting the development of the strings of IPs in association with the development of urban-residential estates and necessary socio-economic infrastructure, contributing to speeding up the local urbanization and modernization speed in a synchronous way.

The province has also made zoning plans for industrial parks, which is in line with a zoning plan for the regional development, especially instructed the local IPs to focus on luring large-scale projects and those with high technologies making products with high added value…

Reported by Trong Minh-Translated by K.T