With new and creative directions, Binh Duong has become one of the country’s leading provinces in developing industrial parks (Ips), turning itself into an attractive destination for investors. The success of the local Ips is contributing to the formation of a dynamic and thriving Binh Duong.
Developing IPs, absorbing investment projects effectively
Known as an industrial hub of the southern region, Binh Duong is one of the most industrialized provinces in the country. Those who have spent years in Binh Duong can truly appreciate the transformation of this once difficult and resilient land of the Southeastern region.
According to provincial IPs Management Board, since the early 1990s, Binh Duong (then part of Song Be province) began its industrialization journey by planning and building IPs. After separating from Song Be in 1997, Binh Duong has risen to lead the country in attracting investment into the local IPs, shifting the local economy from agriculture to industry and services. The province started with two IPs, including Song Than 1 IP and VSIP 1 established in 1995 and in 1996, respectively. And they became some of the initial steps that paved the way for the subsequent development of many other IPs across the province. Especially, VSIP 1 has become a model IP in Vietnam in every aspect, gaining trust from reputable global investors, thereby contributing to turning Binh Duong from a purely agricultural province into one of the most industrially developed provinces in Vietnam.
Former provincial leaders shared that the development of the local IPs at that time faced some opposition. However, the province remained determined, bold in the local actions and willing to take responsibility for the sake of overall development. Initially, Binh Duong focused on building a synchronized traffic system, including the construction of National Highway 13 and developing IP infrastructure in association with urbanization, creating a driving force to promote socio-economic development. Following the motto of “spreading out flower mats to call for investment” to “rolling out the red carpet to attract talents”, provincial leaders consistently upheld the view that in order to develop, it was necessary to vigorously promote industrialization while effectively leveraging geographical advantages, natural resources and human resources.
It is the desire for innovation and constant creativity in leadership, organization and apparatus that has brought Binh Duong outstanding results in many fields. Notably, the province's economy has grown at a high rate for many consecutive years; GRDP per capita is currently the highest in the country. Binh Duong is also one of the country’s top localities in attracting both domestic and foreign investment, with many large-scale projects, high industrialization and urbanization rates.
Solid foundation
Over nearly 30 years of construction and development, by promptly embracing the country’s development, integration trends and shaping its own strategic direction with unique approaches, Binh Duong has achieved groundbreaking transformations across multiple areas. The province has become one of the most industrially developed localities in Vietnam, a hub for many of the world’s leading corporations and an active participant in the global value chain. This has further affirmed Binh Duong’s renewed role and elevated position as a modern, dynamic and innovative locality, creating new momentum and strength for the province’s development in particular and the Southern Key Economic Region and the nation in general in the following years.
It can be affirmed that the policy of building and developing IPs was a creative, appropriate and necessary strategy in Binh Duong’s socio-economic development plan. The development of these IPs plays an important role in mobilizing resources for industrial growth, accelerating the economic restructuring towards industrialization and modernization linked with urban development.
According to Dr. Huynh Ngoc Dang, Chairman of provincial Historical Science Association, Binh Duong’s decision to pursue centralized IP development in earlier stages was a wise and innovative choice, contributing to transforming Binh Duong from an “unknown name” on the national economic map to a thriving urban-industrial province with one of the highest per capita incomes in the country. Many experts now consider Binh Duong as a development model in the country’s renewal process.
Currently, all 29 of Binh Duong’s Ips have a modern and synchronous infrastructure system. The province has also given priority to developing traffic networks and linking IP infrastructure with urbanization, simultaneously boosting industrial growth and laying the groundwork for commercial and service development. Many IPs have become strong brands, attracting large capital flows from domestic and foreign investors. This has significantly contributed to restructuring the local economy towards industrialization and modernization, creating jobs for hundreds of thousands of local workers and increasing State budget revenues.
To increase its competitiveness, Binh Duong is focusing on attracting investment projects into planned IPs. The province is allocating around 20,000 hectares for industrial development and will continue investing in new IPs and expand the existing ones, aiming for higher standards in science, technology and environmental protection. It is also targeting high-value-added industries that meet the increasingly stringent demands of international investors. These IPs are expected to play a leading role in transforming current IPs into the smart ones, providing Binh Duong with a strong foundation in science and technology to create and master new production tools, positioning itself at the forefront of the digital era and the Fourth Industrial Revolution.
Bui Minh Tri, Vice Chairman of provincial People’s Committee emphasized that the construction and development of urban areas and IPs have always been a top priority in Binh Duong, receiving considerable investment. Thanks to this, the province’s status has been improved, becoming one of the country’s top industrialized localities. To continue driving industrial growth in the new phase, Binh Duong is increasing its land reserves for Ip development to promptly catch the next wave of investment. New-generation IPs such as VSIP 3, urban-service IP, information technology park and specialized mechanical IP are expected to become new growth drivers for the province.
Binh Duong takes industry as the foundation and a strategic breakthrough, with the core focus being the development of IP infrastructure integrated with urbanization. The consistent viewpoint of the province is to build IPs to create a driving force to promote socio-economic development to serve the people and the country.
As of now, the province has 29 Ips with a total planned area of over 12,745 hectares, including 28 Ips in operation with 12,000 hectares in total area. These IPs have attracted 3,252 investment projects, including 2,561 foreign-invested projects with total registered capital of US$ 31.57 billion and 691 domestic projects with total registered capital of VND 93,664 billion. Many have become strong brands, helping Binh Duong attract major corporations and multinational groups.
Reported by Ngoc Thanh - Thanh Tuyen-Translated by Kim Tin
