With a favorable geographical position plus preferential policies, industrial parks (IPs) in the northern region of the province have strongly absorbed investors. This is one of major resources contributing to the local growth.
The province’s policy developing IPs in the northern region as a lever has upheld its efficiency, helping localities reach fast growth in industrial manufacture. Accordingly, the province’s land fund for industrial development is around 1,000 hectares in North Tan Uyen district, 1,630 hectares in Tan Uyen town and 3,200 hectares in Ben Cat town. Especially, Ben Cat town and Bau Bang district are considered as a multi-functional region in an urban development strategy of the province, connecting trade activities with Binh Phuoc and central Highlands provinces. Over the past years, the province attached special importance to urban development in the gateway of the northern region.
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Kumho Asiana factory, which is specialized in manufacturing various car tires in Bau Bang IP, has total investment capital of US$360million
Apart from existing IPs, Becamex IDC and its partners have sufficiently prepared infrastructure facilities for 5 Ips in Ben Cat town, namely My Phuoc 1, 2, 3, 4, 5 and Thoi Hoa. These IPs have absorbed investors strongly. Many large-scale projects like Kumho Asianana Corp., Graft Vina Paper Co., Muruzen Foods Corp., Colgate-Palmilive Co., Tomoku Vietnam Co.Ltd….have made investment in the IPs.
Thanks to the above policy together with a favorable geographical position, Bau Bang IP invested by Becamex IDC has worked very effectively, helping Bau Bang district’s economy get more thriving towards the growth of industrial manufacture and services. In 2020, Bau Bang district lured 138 newly-registered projects and 20 extra-ones with total registered capital of nearly VND 943billion and US$243.85million. Thus, the district has attracted 1,079 investment projects, comprising of 883 domestic investment projects with total registered capital of nearly VND30.5trillion and 196 FDI ones with total registered capital of more than US$3.5billion. Thanks to having effective policies in investment attraction, the district has drawn more and more FDI projects with great capital, namely Kumho Asiana Corp. with US$360million, Polytex Far Eastern Co.Ltd. with more than US$274million…Along with Bau Bang urban-industrial park, the district also has Tan Binh IP, Lai Hung IP and Cay Truong IP that are ready to welcome investors…
Vo Thanh Giau, Chairman of Bau Bang district’s People’s Committee said that with the goal of developing Bau Bang into an urban-industrial hub in the northern region of the province, the province has planned for construction of a sci-tech park in the district. The district will also continue mobilizing all resources to build up a modern and synchronous infrastructure system in association with industrial-service and urban development, creating a motivation for the local industrial development between 2021 and 2025.
In order to create a breakthrough momentum for the economic gateway of the northern region, the province actively coordinated with neighboring localities to upgrade traffic infrastructure facilities for better inter-regional connectivity over the past time. Along with major economic axises from national highway 13, My Phuoc-Tan Van expressway and streets with inter-regional connectivity like national highway 14, the belt street 4, the province has forwarded investment for key works in the northern region, including Duc Hoa-Chon Thanh expressway, HCM city-Thu Dau Mot-Chon Thanh expressway, Thu Dau Mot-My Phuoc-Bau Bang-Long Nguyen metro route, Di An-Loc Ninh railway. Once being completed, Duc Hoa-Chon Thanh expressway will connect with HCM street, national highway 22 and trans-Asian highway, contributing to promoting the local development. My Phuoc-Tan Van expressway waiting in front for Long Thanh international airport is seen as good preparation in welcoming investors for investment at IPs in the northern region of the province.
Bui Minh Tri, Head of provincial IPs Management Board said that thanks to the province’s effective support solutions plus the efforts by enterprises, production-business activities at the IPs in the northern region of the province in 2020 remained stable, despite the impacts from Covid-19 pandemic, contributing to the economic growth of the province.
Reported by Ngoc Thanh-Translated by K.T
