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The development of industrial parks has contributed positively to the process of modernizing the technical infrastructure of the province, and promoting the formation of urban areas and concentrated residential areas; moreover, creating a significant source of budget revenue, and creating jobs and stable income for hundreds of thousands of employees, and making an important contribution to maintaining the economic growth rate and industrial production value of the province.

Sustainable development

The forms of investment into construction of industrial parks in Binh Duong are diverse and suitable to the actual conditions of the province. In particular, Binh Duong uses State budget capital to invest not in industrial parks but in construction in the direction of promoting the resources of all economic sectors, in which the economic sector has the key State capital. Among the established industrial parks are 2 invested by 100% foreign-invested enterprises with a total registered investment capital of VND 6,816 billion and 3 joint ventures with investment capital of VND 11,581 billion. The remaining industrial parks are invested by domestic economic organizations with a total investment capital of VND 14,406 billion. The province is building a science and technology industrial park to meet the development requirements of the new stage.

Building industrial parks in the direction of green, circular and digital economy is a key factor to improve competitiveness and ensure sustainable development of the province. In the photo: A corner of VSIP I in Thuan An city

Compared to the whole country, Binh Duong currently accounts for 9% in number and 13% in industrial park area. Up to now, the province has planned 33 industrial parks with a total area of ​​15,790 hectares. Currently, 29 industrial parks have been established on a total area of ​​more than 12,662 hectares, of which, 27 industrial parks have been put into operation with a total area of ​​more than 10,962 hectares; 2 industrial parks have been approved by the Prime Minister to adjust investment policy as VSIP III and Cay Truong Industrial Park on a total area of ​​1,700 hectares. Along with that, the province will re-plan existing industrial parks to increase land use efficiency.

In the first 9 months of 2022, although the world economy faces many difficulties and the Covid-19 epidemic is still complicated, the proportion of the processing and manufacturing industry still increases by 8.6%, which is the industry that accounts for a high proportion of the total production value of the whole industry and a prominent section of the economy where industrial parks play a pivotal role.

According to Nguyen Trung Tin - Head of Management Board of Binh Duong provincial Industrial Parks, in the first nine months of 2022, enterprises in industrial parks disbursed USD 1.9 billion with revenue of USD 24.3 billion, increasing by 14.19% over the same period and 69.52% of the year plan. Export turnover reached USD 17.9 billion, increasing by 19.71% over the same period and reaching 71.61% of the year plan; import turnover USD 16.7 billion, increasing by 18.81% over the same period and reaching 83.75% of the year plan.

Towards higher standards

With experience in construction of industrial parks, Binh Duong is currently making a provincial plan for 2021-2030 with a vision to 2050 of higher standards in science and technology, environmental protection, and focus on attracting industries that bring high added value to meet increasingly strict standards of international investors. The establishment of VSIP III showed the determination to build a new industrial ecosystem. Currently, industrial parks in the province are also being oriented to attract investment in depth, intelligence and sustainable development.

Nguyen Trung Tin added that in the coming time, the construction and development of industrial parks in the province would be more intensive. In 2020-2025, focus on establishing a science and technology industrial park on an area of ​​400 hectares in Bau Bang district, and at the same time studying options for upgrading and converting existing industrial parks into supporting and biological industrial parks of innovation, urban industrial parks and services in line with the new orientation of Binh Duong urban area in the 2021-2030 with a vision to 2050 have been focused on.

The outstanding advantage of Binh Duong compared to other localities is the transport that offer industrial parks inter-regional connectivity to meet the production and business requirements of domestic and foreign enterprises. Currently, Binh Duong is focusing on well preparing the conditions satisfying the needs of investors to enhance cooperation efficiency, and take opportunities from the 4th industrial revolution to actively welcome new investment capital inflows.

Reported by Ngoc Thanh – Translated by Vi Bao