With incentive policies, well-developed infrastructure and transparent administrative procedures…, province-based industrial parks (IPs) have continued attracting domestic and foreign investors. The province is focusing on mobilizing investment resources to build and develop modern, synchronized infrastructure in IPs to seize high-quality project opportunities in the new development phase.
Developing specialized IPs
Recently, provincial People's Council has officially approved the master zoning plan for North Tan Uyen 1 IP at a 1/5,000 scale. Covering 786 hectares with total investment of over VND 26 trillion (equivalent to US$ 1 billion), the project is located in Binh My and Tan Lap communes in North Tan Uyen district and Hoi Nghia ward in Tan Uyen city, with THACO Group as the investor.
North Tan Uyen 1 IP is oriented toward specializing in the mechanical engineering and auxiliary industries. It is expected to serve the production of equipment, components and high-tech industries while also attracting green industry enterprises. The IP is scheduled to start construction in September 2025 and is expected to create jobs for over 32,000 workers once operational. Earlier, in March 2025, provincial leaders met with THACO executives to plan infrastructure investment for IPs and urban development models in the province. Binh Duong is actively addressing obstacles and offering maximum support to expedite the implementation of the mechanical support IP project.
The province is vigorously pursuing the goal of double-digit economic growth in 2025. To achieve this, the province is accelerating administrative reform and digital transformation, continuously reviewing and eliminating outdated or locally-imposed regulations that hinder business operations and proposing adjustments to higher authorities for impractical procedures. The time of dealing with administrative procedures is also being cut by 50% to create a more open investment environment.
Boosting new investment attraction
According to provincial IPs’Management Board, thanks to its incentives, well-built infrastructure and transparent procedures, province-based IPs remain attractive to both domestic and international investors. The province is upgrading existing IPs and developing next-generation IPs such as Vietnam - Singapore III IP, urban-service IP, mechanical IP, and centralized IT…, promising to provide a comprehensive ecosystem for technology-driven operations. These IPs are expected to play a leading role in transforming existing IPs into the smart ones, thereby helping Binh Duong build up a solid foundation in science and technology, master modern production tools and stay ahead in the digital era and the Fourth Industrial Revolution.
The whole province currently has 29 IPs with a total planned area of over 12,745 hectares, including 28 in operation with over 12,000 hectares. 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 trillion. Binh Duong province is currently developing and implementing policies to support and encourage the conversion of industrial production facilities in the southern region into commercial, service, urban and high-tech industrial development in accordance with the master plan.
Wu Jung Pin, General Director of ChengLoong Binh Duong Paper (located in Protrade IP), noted that Binh Duong’s appeal lies in its convenient traffic infrastructure, well-planned IPs and comprehensive services. Foreign enterprises investing in the area can easily rent land or ready-built factories. The local authorities are proactive in supporting businesses and constantly improving the investment environment. Binh Duong also boasts a large number of foreign investment projects and a relatively concentrated industrial chain, which greatly benefits the company in expanding partnership networks. ChengLoong started construction on its third factory phase at the end of 2024 and registered to raise its capital by US$ 50 million to implement its next project in the province.
Bui Minh Tri, Vice Chairman of provincial People’s Committee emphasized that province-based IPs with their modern infrastructure facilities and strategic locations connected to key traffic routes in Ho Chi Minh city and neighboring areas have attracted many major enterprises and multinational corporations. The province is further expanding its land reserve for IP development and preparing necessary conditions to meet investors’ demands while tapping opportunities from the 4th industrial revolution to proactively welcome new, higher quality foreign investment projects.
"To adapt to the new context, Binh Duong province is developing Ips with a more specialized focus. As part of its strategy to attract increasingly high-quality and effective investment projects, the province is thoroughly preparing essential conditions such as building socio-economic infrastructure facilities, setting up clean land funds, being proactive to make planning for IPs, building a technological ecosystem, organizing human resources training, building social houses for workers and opportunely supplying laborers for enterprises investing in the province", Mr. Tri added.
Ghi Among the established IPs in the province, two are wholly foreign-invested, three are joint ventures and the remaining parks are developed by domestic economic organizations. The province is currently developing a science and technology IP, an information technology hub and a specialized mechanical IP to meet development demands in the new phase. According to the master plan, the province will invest in additional 10 IPs from now until 2030. |
Reported by Ngoc Thanh-Translated by Kim Tin
