BEGIC - Binh Duong is an ideal destination for foreign direct investment (FDI), thanks to its synchronous infrastructure, convenient transportation to facilitate the trade of goods and the companion of government to the development of businesses. However, that is not all of Binh Duong's advantages.
Rank 3rd in the country in terms of FDI attraction
After being re-established in 1997, the leaders of Binh Duong province through the periods always aware and act in a consistent view that to develop, it is necessary to promote industrialization associated with the effective exploitation of local potentials and advantages, particularly the focus is to stimulate key factors to meet the requirements for the development of geographical position, resources and human resources. In particular, the Party Committee and the authorities of Binh Duong province proactively proposed breakthrough solutions to attract investment, creating resources for development. With the maintenance and effective implementation of the policy of "spreading the flower to call for investors" and "spreading the red carpet to call for talents" has contributed to clearing the deadlock; creating a clear and favorable mechanism to catch investment wave of domestic and foreign enterprises coming to Binh Duong province. Initial achievements in attracting investment, forming and developing concentrated industrial zones, attracting labor resources from provinces and cities nationwide; focus on building infrastructure, gradually building cultural - social institutions etc. have formed important foundations, both economic and political, as a driving force for later development of Binh Duong province.
Up to now, Binh Duong has attracted 3,732 FDI projects from 64 countries and territories with a total registered capital of more than USD $35 billion, becoming the 3rd place in the country to attract FDI. In particular, Japan is considered as a "strict" foreign investor, becoming the largest investor in Binh Duong, with 304 projects and a total registered capital of USD $5 billion 650 million, accounting for 16.2% of total FDI in Binh Duong.
Binh Duong ranks 3rd in the country in terms of FDI attraction
Mr. Atsushi Kitabayashi - General Director of Omron Vietnam Co., Ltd assessed: "Binh Duong has a very good investment environment; the provincial authorities always pay attention to accompany Japanese enterprises in the development process. In our capacity, we will call Japanese investors to seek opportunities and invest in Binh Duong".
Sharing the results, Mr. Tran Thanh Liem - Chairman of the PPC affirmed the determination of domestic and foreign enterprises have made an important contribution to the province's industrial production sector, achieving fundamental changes; ensure the province's economic structure is shifted in the right direction with industry and services playing a leading role. Businesses and investors have strongly promoted the process of industrialization and modernization in Binh Duong through the transfer and renewal of production technologies towards becoming more modern. Besides, domestic and foreign investment capital has brought tremendous resources, creating a premise for Binh Duong province to develop in a civilized and modern direction; People's lives have been improved; as a basis for implementing specific solutions on industrial development associated with building smart cities.
Promote the "hidden" strengths to meet the industry trend 4.0
Binh Duong Province always appreciates the contribution of businesses to the provincial socio-economic development over the past time. In the coming time, the province will continue to focus on enhancing the investment environment, improving competitiveness and boosting support for the development of investment enterprises in the province generally; especially the community of foreign-invested enterprises particularly. The province will concentrate resources to complete the socio-economic infrastructure system such as: Transportation, water supply, electricity, environmental treatment, etc. carried out the planning to expand industrial parks, creating a clean land fund to attract investment. Training human resources and building social houses, houses for workers to provide sufficient and timely labor for businesses to invest in the province.
Mr. Tran Ba Luan - Director of Binh Duong Transportation Department said, to meet development requirements, the province has planned to invest more roads: National highways; ring road; overpass; roads and bridges connecting provinces like Dong Nai and Tay Ninh etc. Many projects have planned to arrange investment capital; some projects are in the phase of site clearance. The transport sector continues to advise the province to invest in upgrading intra-provincial and urban transport works, especially the important external transport works of the province connecting with national transport hubs and localities in the Southern key economic zone.
Besides, the province has a long-term orientation of developing waterways and railways. Binh Duong has invited businesses to invest in ports on the Saigon, Dong Nai rivers and upgrade the scale of existing ports. In addition, the province also focuses on attracting investment in roads connecting national highways and provincial roads to ports.
Currently, Binh Duong is deploying new industrial parks according to the approved planning, in which, the project of Vietnam - Singapore Industrial Park (VSIP) III with an area of 1,000 hectares was researched and designed in the direction of smart industrial park in terms of infrastructure, energy sources and high-tech applications in production.
Mr. Huynh Quang Hai - Standing Board of Directors and Deputy General Director of VSIP said, in the new phase, VSIP's industrial parks (IPs) are being researched and designed according to a smarter model of infrastructure, including more stable energy sources. "We are working with partners from Singapore and Japan to apply technology on operation, management, electricity supply, waste water treatment, clean water supply to waste collection. All above processes are implemented which will bring efficiency and cost savings for businesses. At the same time cooperate with companies, partners in logistics, supply chain to help businesses save time and costs when transporting goods "- Mr. Hai shared.
Besides, grasping the new development trend, Binh Duong has made a breakthrough in building a smart city aiming at improving the added value of the economy, shifting to high quality services towards knowledge economy and digital economy. Focus on developing human resources for knowledge, applied science and technology (S&T) and start-up, connecting logistics infrastructure, ICT, synchronized databases, innovative ecosystems with the foundation of close cooperation between the state, entrepreneurs and institutes/ schools; at the same time, investing in the social sector makes economic leverage. At the same time, Binh Duong is investing in the construction of a Science and Technology Industrial Park to attract businesses, corporations and start-up businesses with a high added value to invest.
Mr. Nguyen Hoang Vu - Deputy General Director of Becamex IDC said that Becamex IDC was assigned by the PPC to research and build the Science and Technology Industrial Park (S&T IP). The orientation for developing the operational model of the project is to build an innovative playground platform, in which, this IP will play a role in building a nuclear foundation to create innovation based on regional knowledge and support innovative ecosystems. IP also supports foreign companies to promote the development of high-tech industries in the region; at the same time establishes a support system to nurture technology companies and attract foreign technology companies.
Orientations for spatial planning of S&T IP include universities and institutes (training centers to attract high-tech human resources, research and technology transfer); IP (attracting corporations, especially small and medium enterprises, start-ups in key manufacturing industries with high added value); urban service area (creating an ideal living environment for experts, engineers, scientists etc.); cultural and community sports area (creating spiritual and physical cultural institutions for active and modern lifestyles); business park area (providing office space, facilities for researching laboratories, designing, manufacturing prototype products etc. for technology enterprises).
Practice has shown, the correct policy of the Party and State on international economic integration has created a breakthrough in attracting investment, forming an important premise for the country generally and Binh Duong province particularly to affirm its position and increasingly deeply connected with the world. However, in order to develop sustainably and improve the lives of people in all aspects; it requires all levels, sectors and the whole society to take "strategic" steps in the current period. That breakthrough "strategy" is always requires the reciprocal and harmonious relationship between industrial development and smart urban construction; to ensure a safe and happy life with a truly convenient, civilized and modern living environment for future generations.