Not only increasing in quantity, foreign direct investment (FDI) projects in Binh Duong province are also becoming smarter with higher quality. Major global corporations such as Lego, Pandora, Warburg Pincus, Sembcorp Tokyu and CapitaLand Development have contributed significantly to the local sustainable economic development.
Improving the quality of new investment projects
In the first months of 2025, provincial People’s Committee granted investment approval decisions and investment registration certificates to seven FDI projects with total capital of nearly US$ 1 billion. These are considered as positive signals for continued strong FDI inflows into the province throughout 2025.
Among them, new projects include the Timotion Vietnam manufacturing plant with investment of US$ 29 million and Axman Vietnam Co., Ltd. with investment of US$ 24 million in the Vietnam-Singapore Industrial Park (VSIP 3). Additionally, several existing FDI enterprises increased their investment capital such as Cheng Loong Binh Duong Paper Co., Ltd. in Protrade Industrial Park, which increased capital by US$ 50 million and Deneast Vietnam Co., Ltd. (VSIP 2-A), which increased capital by over US$ 40 million. Notably, in early April, Danish Lego Group officially inaugurated Lego Manufacturing Vietnam plant in VSIP 3. The operational plant brings tangible benefits to the local community and the country, with potential to create over 4,000 jobs. It also opens opportunities for young workers to access modern skills and participate in the global value chain.
High-quality FDI projects launching at VSIP 3 further affirm the industrial park's development direction that is greener, smarter, more sustainable and inclusive. The world’s largest jewelry brand, Pandora (Denmark) is also expediting construction of its new facility, scheduled to begin operations in 2026. This will be Pandora’s third global manufacturing site and its first outside of Thailand, with total investment exceeding US$ 150 million. According to Alexander Lacik, CEO and President of Pandora, the Government of Vietnam and Binh Duong province have consistently created favorable conditions and offered incentives to Pandora. Furthermore, Binh Duong and VSIP 3 boast excellent infrastructure and integrated traffic networks, facilitating Pandora’s production, operations and exports. The infrastructure of VSIP 3 is gradually being completed, transforming it into one of the first Ips in the country to introduce the concept of a smart and sustainable IP; it continues being an attractive destination for high-tech, modern and environmentally friendly investment capital.
Enhancing appeal for investors
With infrastructure as a key factor in attracting investors, immediately following the launch of VSIP 3, provincial People’s Committee initiated the task of upgrading and expanding DT746 Road—an arterial route leading to the IP. Provincial leaders stated that the investment in this route is intended to enhance connectivity to the North Tan Uyen – Phu Giao – Bau Bang arterial road, belt road 4 of Ho Chi Minh city, reducing travel and logistics time to key national transport hubs such as Long Thanh Airport, Thi Vai Port, and Cai Mep Port…, thereby contributing to traffic safety, socio-economic development and investment attraction in Binh Duong province in particular and the Southern Key Economic Region in general.
In its effort to build and develop infrastructure and establish the first layer of the Innovation Region Project, Binh Duong is mobilizing all resources to develop a modern, integrated infrastructure system in association with industrial, service and urban development. Additionally, the province is working with ministries, sectors and localities to resolve challenges in the construction procedures for VSIP 3, Cay Truong IP and the expended South Tan Uyen IP while focusing on investing in several industrial clusters in the northern region of the province and accelerating key traffic projects to attract new FDI projects.
Binh Duong is also facilitating THACO Group to develop an auxiliary mechanical IP in the province. The project covers 786 hectares with total investment of over VND 26 trillion (approximately US$ 1 billion), located in North Tan Uyen district’s Binh My and Tan Lap communes and Tan Uyen city’s Hoi Nghia ward. This is a specialized IP for auxiliary industries, aiming at attracting more high-quality FDI projects to the province.
In 2025, the focus on attracting and improving the quality of FDI projects is still one of Binh Duong’s top priorities. According to Bui Minh Tri, Vice Chairman of provincial People’s Committee, Binh Duong will continue restructuring its domestic industrial network and upgrade existing IPs into smart ones to promote the modernization of industries. Alongside infrastructure development, the province is committed to improving the investment environment to support business operations. With a vision towards sustainable development, Binh Duong is prioritizing favorable conditions for investment and cooperation in emerging and potential sectors such as the digital economy, green and circular economy, innovation and clean energy.
To achieve double-digit growth in 2025, Binh Duong aims at driving the industrial sector as a key growth engine and continues prioritizing the development of high-tech industries. Multiple initiatives to attract quality FDI projects are being strengthened, particularly by leveraging its advantages of a stable investment environment and favorable location while enhancing competitiveness through improvement in the business environment, workforce and infrastructure.
Binh Duong is also a pioneer in issuing a set of criteria for selecting investors to develop technical infrastructure in industrial parks and compounds. The province prioritizes collaboration with visionary investors who apply advanced technologies while protecting the environment. This approach aims at harmonizing economic-social development with green growth and contribute to the development of Binh Duong Smart City to an international level. |
Reported by Ngoc Thanh-Translated by Kim Tin
