Infrastructure preparation

In the first 6 months of 2020, Binh Duong has attracted 557 million USD of foreign direct investment (FDI), down 43.7% over the same period. In which, there were 59 new investment certificates issued (down 44.3% over the same period) with a total registered capital of 313.1 million USD (up 49.4% over the same period) and 57 capital- increased adjustment projects with a total registered capital of 243.9 million USD.It can be seen that, during the Covid-19 pandemic, FDI inflows into Binh Duong decreased significantly over the same period in recent years. However, Binh Duong is still one of the leading provinces and cities in Vietnam in attracting FDI in the first 6 months of the year. This is a positive sign that Binh Duong is still an attractive destination for foreign investors. The province is now ready to welcome the wave of foreign investment following the Covid-19 pandemic.

Over the past time, the province has attracted large FDI projects, consistent with the province's investment attraction orientation and the local industrial development plan, developing a number of important economic sectors, such as industry processing, manufacturing etc. Besides, FDI enterprises contribute to help Binh Duong deeply integrate into international economic life.

Mr. Bui Minh Tri - Head of the Industrial Zones Authority of the province said that, right from the re-establishment of the province, Binh Duong has soon focused on developing synchronous transport systems, building infrastructure of industrial zones associated with urbanization, creating a driving force for socio-economic promotion. With 29 industrial zones, many of which have become trademarks, Binh Duong has attracted many large enterprises and multinational corporations to invest. The province's industrial parks with synchronous and modern infrastructure, convenient locations, adjacent to important traffic axes connecting with Ho Chi Minh City and neighboring areas.

Mr. Tran Thanh Liem - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee said that, Binh Duong has been concentrating all resources to form and develop industrial zones and clusters with clean, synchronous and modern infrastructure etc. to call foreign investors. It is this effort and the available advantages of the locality that have created satisfaction and peace of mind for businesses to promote the expansion of investment scale and quality in Binh Duong in recent years.

Ready to welcome the new "wave"

To prepare facilities for FDI inflows, from the end of 2019 up to now, many businesses have invested in developing factories and industrial warehouses. For example, Becamex IDC Corporation and its partners have fully prepared infrastructure in 5 industrial zones, including My Phuoc 1, 2, 3, Thoi Hoa, Bau Bang etc.

Not only soon exceeded the plan to attract FDI, but now, with the cooperation of global brands such as Warburg Pincus, Sembcorp etc is becoming an attractive force for investors targeting Binh Duong. Becamex IDC also cooperates with enterprises, organizations in Korea, the Netherlands, and Singapore to form a science and technology industrial park and a smart manufacturing center 4.0 in Binh Duong, opening up an innovative ecosystem, attracting many corporations, businesses meet and exchange.

Mr. Nguyen Van Hung - Chairman of Becamex IDC shared that, Becamex IDC develops not only the industrial park, but also the industrial ecosystem, with attached service cities, traffic infrastructure connecting internally and interprovincial, attached to the nearest seaport and airport. Even soft infrastructure, such as social housing for workers, land clearance compensation, support for people to access services and change careers, cultural infrastructure, sports, health care, training skills improvement has been vigorously implemented in industrial zones.

Recently, at the Prime Minister's conference with localities in the Southern Key Economic Zone in order to find solutions to overcome difficulties and promote economic development, leaders of Binh Duong province proposed to the Government to soon arrange capital to implement Ring Road 3, Ring 4, Highway Ho Chi Minh City - Thu Dau Mot City - Chon Thanh; to expand Highway 13 in the Ho Chi Minh City to increase connection and circulation region.

For road infrastructure, Binh Duong focuses on investment in connecting industrial areas with urban areas in the province such as: roads with 8 lanes leading to central administrative center of the province; Road 7A has 6 lanes, connecting industrial parks and urban centers in the southern Ben Cat region with My Phuoc urban center; the My Phuoc - Tan Van route connects the Northern urban areas and industrial parks with the southern towns and industrial parks of the province, opening the freight corridor along the North - South backbone axis parallel to Highway 13.This will create favorable conditions for the access to Cai Mep - Thi Vai port and Long Thanh airport in the future. Combining the development of "external" traffic, connecting multidimensional with key economic provinces such as: Expanding Highway 13 from 6 to 8 lanes, My Phuoc - Tan Van - Nhon Trach boulevard, building Thu Bien bridge (East-West belt axis, connecting northern districts of Binh Duong with Vinh Cuu district - Dong Nai), Metro line 3B extending from Cong Hoa - Hiep Binh Phuoc junction (HCM city) , DT747, DT746, DT745 (Binh Duong) etc.are ready to meet the needs of investors in Binh Duong.

Mr. Tran Thanh Liem said that before the wave of global supply chain transformation, Binh Duong is taking the initiative to attract high-quality FDI. Over the years, Binh Duong has been proactively improving the investment and business environment, encouraging businesses to invest, innovate and create. As a result, in the 2016-2020 period, Binh Duong strives to attract 7 billion USD of foreign investment capital.As a result, the province has attracted more than 11 billion USD. To be ready to welcome the new investment wave, Binh Duong continues to promote administrative reform, improve the transparent investment environment; completing socio-economic infrastructure system, urban development - service as a premise for building Binh Duong smart city.