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Binh Duong has always attached special importance to building and developing a system of industrial parks (IPs). Upon this, the province is increasingly enhanced in terms of position, becoming one of the country’s top localities on industrial development. In order to further develop, Binh Duong is further strengthening the local land fund for fostering Ips, promptly catching up with the new "wave" of investment.

Enhancing competitiveness

So far, Binh Duong is one of the country’s localities having the highest urbanization rate of 82% with 3 cities and 2 towns, plus a synchronous and modern transport infrastructure system. The province's IPs account for a quarter of the total area of Ips in the whole South. Binh Duong is one of the country’s leading localities in industrial production and FDI attraction.

A glance of Binh Duong Industrial - Urban - Service Complex

According to province-based Ips’Management Board, the province is home to 34 Ips with 14,790 hectares in total. As of now, the province has established 29 IPs with ​​over 12,662 hectares in total. Among them, there are 27 Ips of 10,962 hectares in operation with the land tenancy rate of 87.4%. In addition to a number of IPs that have been fully covered by investors, investors of the remaining IPs in the province are actively coordinating with local authorities to speed up site clearance and construction investment, quickly promoting and attracting investment in secondary projects. This solution is very important in the current period when Binh Duong always strives to improve the local investment climate, complete and upgrade infrastructure facilities to better serve the local needs of investment attraction.

Bui Minh Tri, Head of province-based Ips’Management Board said that at present, most IP projects in the country have been fully covered by investors or had limited rental areas. Along with this, the production expansion trend of investors in IPs is increasing. Localities need to have new planning to attract investors. Hence, the development and construction of high-quality Ips is necessary. To increase competitiveness, the province is focusing on attracting investment projects into Ips; accelerating the progress of building a more and more modern infrastructure system of IPs; soon establishing a sci-tech IP; further converting functions, moving enterprises into IPs. In the coming period, the province’s task of attracting investment into IPs will have positive changes under a specialized, ecological, intelligent trend, which will create a new attraction. Therefore, existing and new IPs need solutions to improve their competitiveness and attractiveness to take advantage of the increasing demand.

Developing hi-quality IPs

Binh Duong has continued defining industrial manufacture as the foundation, the breakthrough stage with the core of being the infrastructure construction of Ips in association with urbanization. The province's consistent view is to build IPs to create a driving force for socio-economic development to serve the people and the country. Upon this, Binh Duong has created a large "clean land" fund for infrastructure development, creating good and effective IPs in the eyes of investors when coming to the province. Province-based Ips have contributed to creating a push to attract a large amount of investment capital from economic sectors at home and abroad.  

Recently, the Prime Minister has decided to approve the adjustment of investment policy for the project on infrastructure construction and business of the VSIP III. Along with other IPs in the province, VSIP III is expected to soon become a green, high-tech industrial park in the most vibrant industrial development center of the Southern Key Economic Zone.

Pham Ngoc Thuan, General Director of Becamex IDC said that along with factors on infrastructure and policies to support secondary investors, foreign investors, especially ones from the US and EU are very interested in sustainable IPs as well as surrounding ecosystems such as education, healthcare, housing for workers, utilities for life... To welcome big investors, Binh Duong needs to be upgraded into a new standard. The current land fund of the local IPs has reached a fairly high occupancy rate. In the coming period, existing and new industrial zones of Becamex IDC are taking many solutions to improve competitiveness and attractiveness to take advantage of the increasing demand.

Mai Hung Dung, Permanent Vice-Chairman of provincial People's Committee said that Binh Duong's outstanding advantage compared to other localities is traffic infrastructure, IPs infrastructure with inter-regional connectivity at domestic and foreign enterprises’requirements for production and business. Currently, Binh Duong is focusing on well preparing conditions, satisfying the needs of investors to enhance cooperation efficiency, tap opportunities from the fourth industrial revolution to be proactive to welcome new investment flows.

Binh Duong is urgently researching and establishing a sci-tech IP invested by Becamex IDC. In addition, the completion and operation of VSIP III and Cay Truong IP will provide additional 1,700 hectares of land for industrial manufacture. Other IPs are also submitting their expansion documents into functional agencies. For 2022’s targets, Binh Duong province will lease and sublease land from 100 hectares- 150 hectares; attract US$1.2billion -US$1.3billion in FDI capital and VND1.1billion-VND1.2billion in domestic investment capital. In the period of 2020-2025, the province aims at developing sustainable Ips under the "3 in 1" model (IP- urban area - service area) with a modern, synchronous technical and social infrastructure system. Currently, province-based IPs are aiming at attracting investment in depth and sustainable development.

Reported by Ngoc Thanh-Translated by Kim Tin