In the first half of 2016, Bau Bang district focused all resources on infrastructure construction and realized preferential policies to call for investment. This contributed to helping the local industrial production value reach a growth of 10.63% against the corresponding period last year.
Thanks to the integrated efforts by the local authorities at all levels, Bau Bang district’s socio-economic performance continued developing very stably. The district’s industrial production value was estimated at more than VND3.33trillion, a year-on-year increase of 10.63%.
Along with building up an open investment climate in association with effectively realizing administrative reform, the district has boosted infrastructure development to lure more investors. Upon this, the district in the first half of 2016 absorbed 23 newly-registered projects and 1 capital-increasing project. Among them, there are 21 domestic projects worth more than VND205billion and 2 FDI ones totaling US$3million. The district has so far attracted 262 domestic projects capitalized at more than VND4.78trillion and 57 FDI ones valued at more than US$713.7million.
Noticeably, the Bau Bang urban-industrial zone was expanded by 1,000 hectares, lifting its total area to more than 3,200 hectares. With the expansion, the zone will play an important role in trade exchange, contributing to promoting the development of Binh Duong and the southern and central Highlands regions.
According to Nguyen Van Hung, CEO of Investment and Industrial Development Corporation (Becamex IDC), expanding the Bau Bang urban-industrial zone is seen as a preparation to welcome investment waves in the world for deeper integration. Under the expansion, the district’s total population will amount to 200,000 people, meeting the local demand for human resources and urban-service development as well.
Nguyen Huu Chi, Secretary of Bau Bang district’s Party Committee affirmed that with the determination of striving to become an industrial hub of the province and a satellite urban area of Binh Duong city in the future, along with infrastructure construction, the district will call for investment in the fields of banking, supermarket business…in order to create synchronization in urban-service development at investors ‘needs.
Specially, Becamex IDC signed memoranda of understanding (MOUs) with major investors in the expanded zone. DDK Vietnam clinched an agreement with Becamex IDC to develop an 80-hectare park in the complex for production of bicycles and components (photo). Whilst, TPP Investment LLC also struck a deal to establish a U.S.-Vietnam industrial park of 200 hectares in the complex for American investors and those from Asia.
Reported Hoang Pham-Translated by K.T
