In the first quarter of 2025, Binh Duong attracted nearly US$ 700 million in foreign direct investment (FDI). With its utmost efforts in investment attraction, Binh Duong is constantly innovating and reforming to create a safe and attractive investment environment, thereby encouraging the influx of major projects and shaping an increasingly effective business & investment climate.
Breakthrough with green projects
Recently, Denmark’s LEGO Group officially inaugurated LEGO Manufacturing Vietnam Factory at the Vietnam - Singapore Industrial Park III (VSIP III). Mr. Niels B. Christiansen, CEO of LEGO Group affirmed that the LEGO factory in Vietnam will significantly contribute to the flexibility of LEGO’s global supply chain. The decision to build the factory in Vietnam, specifically in Binh Duong, was the right one. Every LEGO factory, regardless of location, is designed to produce the safest and highest-quality products while also offering a world-class working environment for the Group’s employees.
Despite global economic challenges affecting business and investment, investors have continued choosing Binh Duong as a destination for their capital. One of Binh Duong's strengths is that in recent years, countries like Denmark, the Netherlands and Switzerland have been increasing their investment in the province. This clearly signals that high-quality FDI from Europe is flowing more strongly into Binh Duong in line with the province’s investment attraction strategy. According to many investors, this stems from their trust in Binh Duong’s development potential and in the province’s administrative management. The Smart City Development Strategy of Binh Duong, with its specific roadmap, is already delivering tangible benefits to local residents and businesses.
Jesper Hassellund Mikkelsen, General Director of LEGO Manufacturing Vietnam Co., Ltd. shared that the LEGO factory project in Binh Duong has progressed on schedule and is the fastest-developed project among LEGO's factories with the same size. The timely completion was due to strong support from central and local authorities. The company hopes that leaders of Binh Duong province will continue supporting LEGO’s expansion plans in the coming time.
New prospects for high-quality FDI projects
Despite facing many multidimensional challenges, FDI inflows have continued pouring into Binh Duong in the first quarter of 2025. This indicates that besides an improved investment climate, the infrastructure of Binh Duong’s industrial parks and its regional transportation connectivity are increasingly showing their strengths and attracting foreign investors.
According to provincial Department of Finance, in order to further develop the local infrastructure system, Binh Duong is mobilizing all available resources to build up a synchronous and modern infrastructure system in line with industrial - service - urban development. The province is also pushing ahead with compensation and site clearance work, especially for key projects such as belt roads 3 and 4 connecting Ho Chi Minh City – Thu Dau Mot – Chon Thanh and the project of upgrading National Highway 13... "The success of businesses is also the success of the province" is Binh Duong’s guiding principle.
In discussions with investors, provincial leaders reaffirmed that Binh Duong has always accompanied businesses, creating favorable conditions and promptly resolving difficulties during their operational process. The province is also actively investing in infrastructure, developing industrial parks, enhancing inter-regional transportation links and strengthening investment promotion activities. In Q1-2025, the province organized meetings and dialogues with investors and awarded investment certificates to both domestic and foreign projects, with total registered capital of nearly US$ 3 billion. These achievements demonstrate the strong trust and long-term commitment of foreign investors in the province.
Wu Jung Pin, General Director of ChengLoong Binh Duong Paper Co., Ltd., said that Binh Duong has good infrastructure, education and transportation networks, along with the necessary conditions to attract highly skilled workers. The local authorities have actively supported businesses and continuously worked to improve the investment environment. The province has also absorbed a large number of FDI projects and a relatively concentrated industrial chain, which greatly supports the company’s efforts to expand its customer base. "We began construction of our third-phase factory at the end of 2024 and have registered additional US$50 million to support implementation of the fifth-phase project", said Mr. Wu Jung Pin.
Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People's Committee emphasized that in addition to accelerating infrastructure development, drastically improving the investment environment and enhancing workforce quality to facilitate business operations and attract FDI, Binh Duong is also actively preparing favorable conditions to meet investors’ needs. These efforts aim at strengthening the effectiveness of cooperation and seizing opportunities from the Fourth Industrial Revolution to proactively attract high-quality FDI projects.
With advantages in land, traffic and streamlined administrative procedures—combined with the dynamic, creative leadership and close support of all-level authorities, Binh Duong will continue being a “magnet” for high-quality FDI projects, creating new breakthroughs in the coming time.
In Q1-2025, Binh Duong welcomed 70 newly registered FDI projects, 34 capital-adjusted FDI projects and 42 capital-contributed FDI projects, totaling US$ 693 million in investment, a 183% increase compared to the same period in 2024. As of now, Binh Duong has attracted over 4,500 FDI projects with total registered capital of more than US$ 42.7 billion.
Reported by Ngoc Thanh-Translated by Kim Tin
