With such solutions as improving the business climate, perfecting infrastructure facilities…, province-based industrial parks (IPs) have continued being the driving force for the local economic growth. The simultaneous application of solutions has helped the local IPs complete and exceed many important targets. Noticeably, they have absorbed US$2.4 billion, reaching 201.74% of the year’s plan.
Exceeding annual plan
Since early this year, in addition to focusing on Covid-19 prevention and control, enterprises in province-based IPs have actively mobilized resources, promoted investment and developed production and business while taking advantage of the local support to promote recovery for all activities, contributing to maintaining the local economic growth momentum. In the first eight months of 2022, provincial IPs Management Board licensed 59 works with a total construction floor area of more than 448,452 square meters and a total construction capital of more than VND 2.74 trillion; leased land with a total area of 6,914.89 hectares of industrial land with the occupancy rate of 90.96%.
Binh Duong has developed new generation IPs with the "3-in-1" model, including industry - urban – service zones. In picture: A glance of VSIP I, Binh Duong's model IP has been replicated nationwide
According to provincial IPs Management Board, in the first eight months of 2022, province-based IPs attracted more than US$ 2.4 billion in FDI capital, or 201.74% of the year’s plan; more than VND 10 trillion in domestic investment capital, an increase of 293.28% over the same period in 2021, or 912.48% of the year’s plan. Up to now, province-based IPs have attracted 2,349 FDI projects with total registered investment capital of US$28.1 billion by enterprises from 65 countries and territories; 675 domestic investment projects with total registered investment capital of more than VND87.89 trillion. Most large-scale enterprises investing in Binh Duong choose concentrated IPs.
Nguyen Trung Tin, Head of provincial IPs Management Board said that in comparison with the whole country, Binh Duong currently accounts for 9% of the number and 13% of the area of IPs. Up to now, the province has planned 33 IPs with a total planning area of 15,790 hectares. The whole province has also established 29 IPs, with a total planning area of more than 12,662 hectares; in which 27 IPs have been put into operation with a total area of more than 10,962 hectares, 2 IPs, including VSIP 3 and Cay Truong IP, have been approved by the Prime Minister to adjust investment policies with a total area of 1,700 hectares. Along with that, the province will re-plan existing IPs to increase land use efficiency.
Infrastructure upgraded
As of now, 29 IPs in the province have basically been covered by investment projects. In the first eight months of 2022, most enterprises in the local IP operated stably. The FDI sector has continued being the leading force, making a great contribution to the local State budget collection and actively contributing to technology transfer, job creation as well as skill training for workers in the province in general and IPs in particular. There was over 86% of FDI capital poured into processing and manufacturing industry with many projects of over US$ 1 billion.
.jpg)
With many positive and effective solutions in accompanying enterprises such as improving the business climate, completing infrastructure facilities, etc., province-based IPs continue being the driving force for the local economic growth
In 2022, province-based IPs have strived to attract around US$ 1.2 billion – US$1.3 billion in FDI capital and VND1.1trillion – 1.2 trillion in domestic investment capital. But, over the past 8 months, these targets have exceeded the set plan. To continue developing more sustainably, province-based IPs are taking the initiative in all solutions to attract investment capital effectively. The province is also well preparing conditions such as clean land fund, proactively planning IPs, technology ecosystems, deploying human resource training, building social housing estates for workers, fully and promptly providing labor resources for enterprises to invest in the province.
Mr. Tin said that in the period of 2020-2025, Binh Duong has aimed at developing sustainable IPs under the "3-in- 1" model (including industrial, urban and service zones) with a synchronous and modern system of technical and social infrastructure. As of now, Binh Duong has set up many incentive mechanisms and policies to support investment in the local IPs while actively supporting and removing obstacles in legal procedures on land for secondary investors in the local IPs. With many positive and effective solutions in accompanying enterprises such as improving the business climate, completing infrastructure facilities…, province-based IPs have continued being the driving force for the local economic growth.
Reported by Ngoc Thanh-Translated by Kim Tin
