Possibly seeing, the province’s policy in development of industrial parks (Ips) has actually upheld its efficiency. These Ips have become a new lever for the local socio-economic development, improving the lives of locals.
Fire land rising up
The birth of the Bau Bang Industrial-Urban IP is an indispensable affirmation in the development trend of a flexible economic land full of potential. So far, 95% of the IP’s industrial land has been covered by foreign and domestic investors with total registered capital of US$1.2billion.
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A glance of Tan Binh IP in North Tan Uyen district
Le Khac Tri, Chairman of Bau Bang district’s People’s Committee said that most locals earned their living from rubber trees and animal husbandry in the past. When the Bau Bang Industrial-Urban IP was formed up, many households have changed their economic structure from cultivation, animal husbandry to trade-services.
Acendas Protrade International IP (PITP) was established in 2007 from the cooperation between Binh Duong Production-Export Import Company (Protrade) and
So far, 75% of the PITP’s total area has had a well-built infrastructure system. The PITP has absorbed 65 investors, 95% of whom are foreign ones with total registered capital of nearly US$1.5billion. Noticeably, most projects herein are hi-tech ones that are less labour intensive and more environmentally friendly.
Constant development
Huynh Kim Nhut, General Director of Tan Binh IP Joint Stock Company (TBIP) said that since 2014, 191.97 hectares of TBIP have been covered by investors with 61 domestic and foreign projects capitalized at more than VND1.16trillion and US$104million.
In 2018, Tan Binh IP had additional 17 projects in operation and 19 others under construction. Thus, since 2014, the IP has absorbed 26 projects in operation with 2,500 laborers. The IP last year reached more than VND151.6trillion in total revenue, beyond 3.77% of the plan; VND80.09billion in pre-tax profit, beyond 10.68% of the plan and paid VND83.7billion for State budget…
Possibly seeing, the birth of PITP, Viet Huong 2, Tan Binh, Bau Bang or industrial compounds (ICs), namely Tan My, Tam Lap, Thanh Tuyen…in the northern region of the province has created large clean land fund with a well-built infrastructure system, being ready to welcome investors. My Phuoc Ips 1, 2, 3 and 4 have till now absorbed more than 400 FDI projects with more than US$3billion. These Ips have lured many projects with great capital, namely Kumho Asiana Corporation, Kraft Vina Paper Company, Maruzen Foods Corporation…
Under the province’s policy on development of Ips in the northern region, Becamex IDC has built infrastructure facilities of the My Phuoc Ips 1, 2, 3 and the Bau Bang IP and plans to build the first hi-tech park of the province, contributing to bringing a new image to the rural region of the province.
The fast and sustainable development of Ips and ICs in the northern region of the province has not only created a sustainable lever for the local socio-economic development, narrowed the gap between urban and rural regions, but also demonstrated the soundness of a great policy of provincial Party Committee, People’s Committee over generations. For long term, they will be the stimulation premise for the local socio-economic development…
Reported by Khanh Vinh-Translated by K.T
