To enhance competitiveness and create the most favorable conditions for businesses to invest, produce and operate with confidence, Binh Duong is continuing to focus on improving the quality of its investment and business environment while accompanying enterprises on their development journey.
Upholding competitive advantages
In the first months of 2025, in order to support both domestic and foreign enterprises in overcoming difficulties, provincial leaders held multiple meetings and dialogues to discuss challenges in production and business operations such as factory relocation, fire prevention and control, electricity, import-export taxes and customs procedures. These sessions also welcomed opinions and proposals from businesses to boost economic development and help Binh Duong achieve double-digit growth in 2025.
According to investors and businesses, accelerating real improvement in the investment environment and simplifying administrative procedures is essential—not only to attract more investment capital into Binh Duong, but also strengthen trust and motivation for enterprises to expand. When discussing the implementation of the company’s Phase 3 investment expansion project with provincial leaders, Kim Hyun Ho, General Director of Kumho Tire Vietnam Co., Ltd. stated that investors have always highly appreciated Binh Duong’s efforts and determination in improving the investment and business environment; the dynamism of local authorities in approaching new investors as well as their supportive measures, willingness to cooperate and readiness to listen to the needs of investors and businesses.
Bui Minh Tri, Chairman of provincial People's Committee confirmed that Binh Duong will remain steadfast in its goal of improving the business environment and supporting enterprises. A key focus is the application of digital technologies in public administration to establish a smart government based on digital platforms. This strategy not only promotes digital innovation, but also enhances public service delivery, reduces administrative costs and processing time, thereby attracting more investment and driving economic growth. |
Despite facing numerous difficulties and challenges, in the first five months of 2025, the total registered capital from domestic enterprises in Binh Duong exceeded VND 67.569 trillion. Among these, 4,865 new enterprises were registered with combined capital of over VND 28.444 trillion—an increase of 63.7% in number and 66.3% in capital compared to the same period in 2024. In addition, the province attracted more than US$ 850.6 million in foreign direct investment (FDI), comprising 108 new projects, 39 capital-adjusted projects and 64 capital contribution/share purchase transactions. Currently, Binh Duong is home to 78,418 domestic enterprises with total registered capital of over VND 879.991 trillion and 4,512 foreign-invested enterprises with combined registered capital exceeding US$ 42.7 billion. At present, Binh Duong remains one of the top localities in Vietnam in attracting substantial investment flows from both domestic and international corporations.
Lever for enterprises to make breakthroughs
Although Binh Duong has achieved remarkable results, the province is not complacent. Instead, it is taking even more decisive steps to improve the business environment, focusing on key areas such as administrative reform, business support and sharing of investment opportunities. Up to now, Binh Duong has continued building upon the achievements it has made in administrative procedure reform.
Provincial Department of Finance, in collaboration with other departments and sectors, has been actively supporting businesses in completing investment-related procedures, resolving project difficulties and effectively implementing support mechanisms and policies. Regarding business registration, Binh Duong has significantly reduced processing time by eliminating unnecessary procedures, simplifying business conditions, facilitating online registration, delivering results by post and supporting foreign investors in registering their businesses from abroad.
According to the Directive No. 53-CT/TU dated February 21, 2025, on focusing leadership and direction to implement tasks and solutions aimed at achieving double-digit economic growth in 2025, provincial Party Standing Committee has requested all departments, sectors and localities to vigorously carry out administrative procedure reform and digital transformation. They are required to regularly review and decisively eliminate locally issued regulations and procedures that hinder business activities; promptly propose amendments to higher authorities for regulations and procedures that are no longer practical and reduce the processing time for administrative procedures by 50% compared to current regulations, in order to create an even more transparent and favorable investment environment.
Notably, in a recent move to unlock the potential of the private sector, the Politburo has issued the Resolution No. 68-NQ/TW, identifying the private economy as one of the key driving forces of Vietnam's economic development. With its breakthrough solutions, the Resolution 68-NQ/TW has been warmly welcomed by the business community nationwide and especially in Binh Duong, generating excitement and high expectations. The resolution includes several prominent policies that have been highly praised by enterprises and experts such as limiting business inspections and audits to a maximum of once per year; prioritizing post-audit mechanisms instead of pre-approvals; exempting corporate income tax for start-up businesses during their first two years and reducing it by 50% for the following four years; reducing land rental fees by 30% for innovative enterprises and providing a 2% interest rate subsidy for green and circular economy projects.
According to Tran Thanh Trong, General Director of Sang Ban Mai Joint Stock Company, the new and breakthrough points in the Resolution No. 68-NQ/TW lie in the major policy groups proposed, all of which aim to address long-standing bottlenecks—particularly in areas such as land access, credit, taxation, administrative procedure reform and the legal environment. He emphasized that this resolution presents a valuable opportunity for private enterprises to make breakthroughs and rise strongly in the new era.
Provincial People's Committee is directing departments, sectors and localities to focus on resolving obstacles, accelerating the progress of compensation, site clearance and construction of projects throughout the province, especially key and large-scale projects, to create momentum for overall development in the coming period. At the same time, the province remains steadfast in its goal of improving and enhancing the quality of the investment and business environment, further accompanying and supporting enterprises.
Along with accelerating the completion of key projects, Binh Duong has been implementing a comprehensive set of solutions to promote socio-economic development in 2025. In particular, the province is focusing on improving the investment environment and supporting the business community. This includes applying a “one-stop-shop” model while simultaneously simplifying and digitizing procedures related to investment licensing, business registration, construction and land management, thereby saving time and reducing costs for both residents and enterprises. |
Reported by Ngoc Thanh-Thanh Tuyen-Translated by Kim Tin
