Thanks to the right orientations of provincial Party Committee, People’s Council and People’s Committee, Binh Duong has created bold imprints in the national investment attraction diagram.
Success from creation
So far, Binh Duong has built 28 industrial parks (Ips) in stable operation with the rate of land tenancy at 70%. They have accounted for 70% of the amount of investment capital flowing into the province. The whole province now also has 6 out of 8 industrial compounds (Ics) of nearly 600 hectares with the rate of land tenancy at 45%. The Prime Minister has also just approved the adjustment of Ips development planning till 2020. Accordingly, there will be 33 Ips till 2020 with more than 15,730 hectares in total.
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Binh Duong is awarded the certificate of merit of the Prime Minister for its contributions to FDI attraction during the past 30 years
Province-based Ips are considered as a fever for the province to absorb FDI capital during the past 20 years. Since 2016, the province has lured more than US$5.78billion or 82.6% of the 2016-2010 five-year plan (around US$7billion). With the current FDI attraction momentum, the province is expected to soon surpass the set target of US$7billion. Since early this year, the province has attracted more than US$1.18billion or 84.95% of the year’s plan.
Thus, thanks to its own way full of creation, the province has absorbed 3,430 FDI projects with a total registered capital of US$31.29billion. With this result, the province is among the country’s top three countries in FDI attraction.
Further improving quality of FDI attraction
According to Nguyen Thanh Truc, Director of provincial Department of Planning and Investment, FDI capital is seen as a motivation for the development and shift of the local economic structure. In 2017, the FDI sector contributed 48.5% of the province’s total investment capital for social development and accounted for more than 82.8% of the province’s export turnover.
The province has had a maproad on gradually shifting the structure of land for industrial production into the land for trade-services in line with the plan of land use in each period. In addition, the province has boosted the development of Ips in the northern region in association with synchronous infrastructure investment outside Ips, well serving enterprises’ needs for production and business. This is a new advance, creating favorable conditions for the province to further reach socio-economic development as well as speeding up the local FDI attraction in the new period.
In the coming time, the province will continue effectively taking solutions in association with the program of “Improving investment attraction for the period of 2016-2020”; concentrate on absorbing trade-service and hi-tech projects that are environmentally friendly and capable of making great contributions to the State budget. The province’s determination in smart city building is also the determination to create an ideal investment climate, aiming to absorb more investors in the coming time.
Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee said that the province has promulgated a Program on investment attraction improvement for the period of 2016-2020, absorbing partners with great economic potential, the world’s great corporations; attracting hi-tech projects that are less labor-intensive and environmentally friendly into Ips and Ics under the plan. Besides, the province will strive to gain in-depth industrial development, give priority to hi-tech projects that are environmental friendly and capable of making great contributions to the State budget…
The province will also further perfect the local investment attraction policy; boost infrastructure construction of Ips and Ics to create “clean” land fund; absorb hi-tech projects to create the premise for the local industrial development…With a good institution plus a long-term vision, the province is expected to continue being an attractive locality for domestic and foreign investors.
Reported by Minh Nguyen-Translated by K.T
