Part 1: Attracting investors
Persistently pursuing the goal of transitioning to a green, sustainable development model and expanding industrial growth to the northern region of the province, Binh Duong has been establishing new-generation industrial parks and compounds. They are planned with inter-regional traffic connectivity, attracting an increasing number of large investors, with environmentally friendly and high-tech industries, creating a strong boost for the northern localities in particular and Binh Duong province in general to accelerate development in the new period.
Vigorous transformation
As a newly emerging industrial production zone, the northern region of the province has been focusing on attracting investment projects to develop high-tech industries that require less labor and ensure environmental sustainability. In Bau Bang district, two existing industrial parks (IPs) covering a total area of over 2,500 hectares are nearly fully occupied while new IPs are being developed and expanded. With its strategic location, spacious and well-planned land, along with attractive incentive policies, Bau Bang district-based IPs have become a strong magnet for major global investors. Enterprises have continued investing in new, more advanced machinery and expanding their factories and operations to boost productivity and business growth.
Nguyen Phu Cuong, Chairman of Bau Bang district’s People's Committee stated that in the coming period, the district will strengthen investment promotion in existing IPs, complete land compensation and site clearance to implement the development of new-generation IPs and attract investment projects in clean & environmentally friendly industries.
Yeh Ming Yuh, General Director of Polytex Far Eastern (Vietnam) Co., Ltd. stated that the company invested in building a factory in Bau Bang IP in 2015, specializing in the production of synthetic fibers, finished textile dyeing and garment manufacturing, with initial investment of US$ 274.2 million. This is the first integrated petrochemical and textile factory in Binh Duong.The company has expanded its investment into the second phase and plans to invest additional US$ 700 million for the third phase in 2025. The third phase of the factory is expected to be operational by the end of 2025.
As a major European brand, Ecco Group from Denmark made the right decision in choosing Bau Bang district as its investment destination. Alexander Christopher Falter, General Director of Ecco Vietnam Co., Ltd. stated that the company specializes in manufacturing leather shoes, handbags and other export products. Ecco established its production facility in Bau Bang district over eight years ago and currently employs more than 1,000 workers.
Unlocking green growth potential
Thanks to well-planned regional zoning, effective land use, infrastructure development and administrative reforms to attract investment projects, Binh Duong in general and its northern localities in particular have become prime destinations for major global investors. The investment of Lego Group from Denmark in building a factory at Vietnam - Singapore Industrial Park III (located in NorthTan Uyen district and Tan Uyen city) with total capital of over US$ 1.3 billion has marked a significant success in attracting investment to the IPs in the northern region of the province. With over US$ 1.3 billion, this project marks a significant milestone in attracting investment to the northern industrial parks of the province. In reality, Binh Duong's remarkable development in recent years has provided an infrastructure system in line with Lego Group’s commitment to green and sustainable growth.
Province-based Ips, especially the Vietnam-Singapore Industrial Parks (VSIPs) have been attracting numerous high-tech and environmentally friendly projects. Jesper Hassellund Mikelsen, Senior Vice President of Lego Group for the Asia-Pacific region and General Director of Lego Manufacturing Vietnam Co., Ltd. stated that the Lego Vietnam Factory project is expected to create over 4,000 direct jobs and thousands of indirect jobs. The factory is committed to meeting green standards and achieving carbon neutrality, contributing to Binh Duong’s sustainable development goals.
"The Lego factory in Binh Duong is our sixth factory worldwide and the second in Asia, serving as a key production hub to export products to Asia-Pacific markets. The group has already established partnerships within Vietnam’s supply chain and will continue expanding its ecosystem to support the factory’s operations. We believe that Binh Duong has a well-trained workforce capable of meeting the demands of this high-tech facility. The province also has a strong vision for sustainable development and emission reduction, which is in line with Lego Group’s long-term goals", said Mr. Jesper Hassellund Mikelsen.
For Pandora Group, Vietnam’s abundant supply of skilled laborers, particularly in Binh Duong was a key factor in selecting the province as the location for its third global manufacturing facility, in addition to its two existing factories in Thailand. The group plans to recruit over 6,000 workers for the new factory in Binh Duong, which is expected to be inaugurated and begin operations in 2026. Similar to the Lego Vietnam factory, Pandora’s facility will also utilize solar energy supplied on-site from (VSIP III)... (to be continued)
“We greatly appreciate Binh Duong's strong support in creating a favorable business environment. Ecco is accelerating the application of cutting-edge technologies in our factory to expand production capacity and meet the growing global market demand. Ecco Vietnam Co., Ltd. is also striving to develop a green and sustainable ecosystem in line with the province's policy…", said Alexander Christopher Falter, General Director of Ecco Vietnam Co., Ltd.
Reported by Tieu My-Thanh Tuyen-Translated by Kim Tin
