To maximize competitive advantages, Binh Duong has continued its efforts to improve the local investment environment, enhance business efficiency and create momentum for sustainable development.
Upholding competitive strengths
In 2024, the total registered capital of domestic enterprises in Binh Duong exceeded VND 80.243 trillion. To date, the province has recorded 73,600 domestic enterprises registered for operation, with total registered capital of over VND 807 trillion.
According to provincial Party Committee’s action program to implement the 5th Resolution of the 12th Central Party Congress on developing the private economy, further innovating and improving the effectiveness of State-owned enterprises, Binh Duong aims at having 80,000 domestic enterprises by the end of 2025. To date, the province has reached 92% of this target. This result has also demonstrated the effectiveness of the province's ongoing efforts to improve the business environment in a substantial, continuous manner, always supporting its enterprises.
Binh Duong is one of the localities attracting significant investment across the country. However, in the context of global investment fluctuations and declines, Binh Duong has also been impacted. According to provincial Department of Planning and Investment, although production, business, commerce and services in the province have recovered and developed under the new normal, the effects of the Covid-19 pandemic are still influencing the operations of enterprises. Additionally, the difficulties and challenges in the global situation have directly impacted investment, production and export activities in the province. Moreover, Binh Duong cannot remain unaffected by the general development trends such as the fourth industrial revolution, digital transformation and green development, all of which are changing the overall picture of businesses.
However, right from the beginning of the year, provincial People's Committee has actively implemented the resolutions and documents of the Government, ministries, central sectors, provincial Party Committee and People's Council on economic-social development tasks and solutions. The province has regularly organized dialogue sessions to resolve difficulties for businesses. As a result, the production, business and export activities of enterprises in the province in 2024 continued recovering steadily month by month and quarter by quarter.
Building momentum for growth in the new year
By the 6th of January in the lunar calendar (February 3rd in the Gregorian calendar), many enterprises in the province have started production again. Right from the first month of the new year 2025, there have been many positive signals for the production and business activities of enterprises. Many companies have received more orders and are hiring additional workers. Ta Van Thanh, General Director of Thai Duong Industrial Paint Co., Ltd., TaiYang Shoe Branch stated that by taking advantage of the free trade agreements signed and implemented by Vietnam, the company was able to expand international trade and export markets. In 2024, the export market recovered and the company's orders became more abundant. By the end of the year, the company produced and sold over 5 million pairs of shoes and sandals on both domestic and export markets. In 2025, with the established quality and brand, the company is confident in receiving even more new export orders.
To meet production demands in 2025, Vinh Hung Dat Packaging Co., Ltd. in North Tan Uyen district-based Tan Binh Industrial Park, is looking to recruit around 500 more workers. Nguyen Quang Phong, representative of Vinh Hung Dat Packaging Co., Ltd.’s Human Resources Department mentioned that the company has more orders in 2025, which increases the need for recruitment. At this time, it is already difficult to find unskilled workers, so recruiting skilled workers is even more challenging. To address this, the company has implemented various measures such as posting recruitment information on multiple communication channels and organizing training courses on skill enhancement for its existing workers.
These optimistic signals mark the start of a new year with the expectation of achieving good results. In the early days of 2025, provincial People's Committee approved investment plans for 23 domestic projects with total registered capital of nearly VND 42 trillion (equivalent to over US$1.7 billion). On February 1, provincial People's Committee granted investment approval and investment certificates to 7 foreign-invested projects with total capital of nearly US$1 billion.
In 2025, Binh Duong is determined to achieve a double-digit growth target, continuing being a leading destination for attracting investment, fostering innovation, advancing science and technology while creating an equal and safe business environment for citizens, businesses and investors. Vo Van Minh, Vice Secretary of provincial Party Committee, Chairman of provincial People's Committee emphasized that in order to continue being a destination for domestic and foreign investors, Binh Duong is working on implementing regional infrastructure projects, planning industrial zones and clusters, redesigning development spaces and attracting high-quality investment projects. The province is also intensifying its focus on digital transformation, green economy and circular economy in line with sustainable development goals. Binh Duong is committed to continuously improving the local investment environment, reforming administrative procedures, enhancing competitiveness and pledging to support businesses for long-term sustainable growth.
In addition to infrastructure, administrative reform is considered as a top priority for the province. Binh Duong has applied the "one-stop-shop" model while simplifying and digitizing investment licensing, business registration, construction and land procedures, saving time and costs for businesses. To address investor challenges promptly, Binh Duong frequently organizes dialogue sessions between provincial leaders and businesses, building trust and fostering collaboration between local authorities and the business community.
Reported by Ngoc Thanh-Translated by Kim Tin
