Localities in the northern region of the province still depended on agricultural production while those in the southern region like TDM city, Thuan An and Di An town have got vibrant with industrial-urban development projects. But, in recent years, under the leadership of provincial Party Committee, People’s Committee together with locals’ consensus, they have made efforts in developing industrial parks (Ips) and industrial compounds (Ics) to wait in front for opportunities and call for investors.
Strong change
Being built on areas with thousands of hectares of exhausted farming land ten years ago, Ips and ICs in the northern region of the province have to date got thriving with large-scale investment projects. This result came from the great efforts by the province and the effective investment of investors of the Ips and Ics. Since being established, most of them have proved their capacity and role in investors’ eyes.
Tran Thanh Trong, General Director of Sang Ban Mai Joint Stock Company at Ben Cat town-based My Phuoc IP and Ha Buu Thuc, Director of Tan Ho Tu Construction Company in TDM city said that Ben Cat has actually been the “golden” land in investors’ eyes. Especially, in recent years, Ips in the northern region of the province, namely Viet Huong 2, An Tay, Rach Bap…have created breakthroughs in development, absorbing hundreds of firms. This is a good sign for the sustainable development process of the province.
So far, My Phuoc 1, 2, 3 and 4 Ips in Ben Cat town have attracted more than 400 FDI projects with total investment capital of more than US$3bln. Among them, many with great capital include Kumho Asian Corporation’s car tire-making factory capitalized at US$360mln; Graft Vina Paper Company with US$180mln; Maruzen Foods Corporation with US$104mln; Colgate-Palmolive Vietnam Company with US$41mln; Tomoku Vietnam Company with nearly US$50mln…
The success of My Phuoc Ips is seen as a firm premise for Binh Duong’s Party, government and people to be determined to promote industrial development in the northern region. In fact, the birth of Ips in the northern region, namely Singapore Ascendas Protrade, Viet Huong 2, Tan Binh, Bau Bang…has created large clean land fund with a methodical and synchronous infrastructure system for investors.
Attractive destination for investors
Among Ips and Ics in the northern region of the province, Bau Bang IP is now an attractive destination for investors. In 2015 alone, the IP absorbed the 400-hectare project of Polytex Far Eastern Vietnam Co.Ltd. with total investment capital of US$271mln. Taiwan’s DDK Corporation and Becamex IDC also signed a cooperation agreement on leasing 80 hectares of land at the IP to build a bicycle production cluster capitalized at around US$250mln. The project is expected to absorb around 60 businesses in this field.
Whilst, Singapore Ascendas Protrade IP in Ben Cat town has so far lured a domestic project worth US$46bln and 22 FDI projects in electronics, auxiliary industries with total investment capital of US$118mln. Taiwan’s Chenglong Corporation also decided to construct a paper marking factory worth VND1bln at the IP. This is the second FDI project of the province with total investment capital amounting to US$1bln and is also the largest-ever industrial manufacture project herein.
Possibly speaking, Binh Duong’s industrial trademark has risen up and Binh Duong has continued being an attractive destination for investors. For that reason plus many other great resources in terms of infrastructure, policies…, Ips and CPs in the northern region of the province have further upheld their advantages. As a result, the flow of FDI into them over the past time, especially in 2015 and in the first months of 2016 was very great.
Tran Thanh Liem, Vice-Chairman of provincial People’s Committee affirmed that the formation of concentrated Ips in the province in general and in the northern region of the province in particular has helped strongly absorb investment capital for the local industrial development and ensure the harmony between the local targets on socio-economic development and environment. In the coming time, the province will further mobilize all resources for industrial development; strengthen administrative reform; build up synchronous infrastructure facilities with a regional connection traffic system; promote services at investors’ needs…
Reported by Khanh Vinh-Phung Hieu-Translated by K.T
