Since the post-renewal period, State-run enterprises in the province have uphold their role as an engine of the local economic growth with many contributions. Noticeably, Becamex IDC has carried out key projects on infrastructure to promote the local socio-economic development and help the locality effectively absorb FDI capital.
Breakthrough in making streets under BOT form
Between 1996 and 1997, there was a breakthrough helping Binh Duong’s economic growth advance the new period. This was the birth of the international standard Vietnam-Singapore Industrial Park, a joint venture between Becamex IDC and a Singaporean consortium led by Sembcorp Development, helping Binh Duong become an attractive destination for investors.
Tran Thanh Liem, Vice-Chairman of provincial People’s Committee having a look at the electronic circuit boards production line of a Japanese enterprise at Ben Cat town-based My Phuoc industrial park invested Becamex IDC
Realizing that traffic infrastructure was one of key elements for the local socio-economic development together with scanty State budget, Becamex IDC proposed the local administration, the Ministry of Planning and Investment to upgrade the Highway 13 under the Build-Operate-Transfer (BOT) form and this was approved.
In the first phase, Becamex IDC built a section of 10km going through TDM city. After being completed, it received the compliment of the community.
Following the success, Becamex IDC continued building the second phase of the Highway 13 connecting HCM city at Vinh Binh bridge and Binh Phuoc at Tham Rot bridge. The 32km street with six lanes was fulfilled after a short time of construction. This made a breakthrough about the policy of socialization of traffic infrastructure investment, bringing the society benefits.
Thanks to the Highway 13 upgraded, localities like Ben Cat, Bau Bang have so far reached economic growth with the birth of My Phuoc, Thoi Hoa and Bau Bang industrial parks…
Comprehensive development
Along with infrastructure investment, Becamex IDC has greatly contributed to the local investment attraction. Particularly, Vietnam-Singapore, My Phuoc industrial parks invested by Becamex IDC have absorbed investment very effectively with nearly 950 FDI projects worth nearly US$10bln. This is seen as an important resource for Binh Duong to reach sustainable socio-economic development, helping the locality become one of the country’s great economic hubs.
Many urban and service projects invested recently by Becamex IDC are also very effective. The Tokyu Binh Duong Garden City project, invested by Becamex Tokyu Co.Ltd., a joint venture between Becamex IDC and Japan’s Tokyu Group in Binh Duong New City is a typical example for the above thing. This is the province’s biggest project worth US$1.2bln. Covering more than 110 hectares, the project includes around 7,500 apartments, houses; recreational facilities, offices…Sora Gardens I, the first part of the three-phase Sora Gardens project, which is the first project of the Tokyu Binh Duong Garden City complex has been put into operation. This is not only Vietnam’s top urban area, creating a highlight for the center of Binh Duong city in the future, but also contributes to absorbing FDI capital.
Possibly speaking, Becamex IDC’s production and business activities not only aim to create profits, but their more important target is towards Binh Duong’s sustainable development. This also shows that Becamex IDC plays an important role in promoting the local socio-economic development towards a new height.
Reported by Ve Giang-Translated by K.T
