Supporting industry (SI) has created great potential and advantages for enterprises in Binh Duong and neighboring areas to proactively reduce its dependence on imported materials. With the advantage from 29 industrial parks and hundreds of large goods manufacturing enterprises, Binh Duong has become one of the largest centers to attract foreign investments (FDIs) into the SI of the country.
SI draws FDIs
The province has now 2,277 enterprises involving SI in the province, of which textile industry has 442 enterprises, leather and footwear 172, wood processing 953, and mechanics 710. Binh Duong has formed industries that produce textile and garment materials (textile, fabric, zipper, dyeing, finishing textile products...), leather and footwear (tanning, manufacturing shoe soles, shoe caps...), mechanics (metal production, manufacturing metal products, machinery and equipment and spare parts for automobile industry...), electricity - electronics (manufacturing electronic components, electric wire, optical cable...)
Foreign experts explore products at BIFA Wood mac 2018 in Binh Duong.
Besides, the province formed industries producing raw materials for textiles, footwear, mechanics, electricity - electronics. The province also developed a separate industrial park in Bau Bang with over 1,000ha, prioritizing attracting investment capital into SI, especially FDI projects.
In recent years, many FDI enterprises have invested in SI in Binh Duong province, such as Core Electronics Company specializing in producing copper coils, magnetic cores, circuit boards for the electric industry; Keiden Vietnam Company under Keiden Group (Japan) invested and brought its factories, mechanical processing, metal surface treatment and coating with modern technologies, ensuring environmental safety in its manufacturing.
In particular, there are foreign investment projects with a capital of tens of millions to hundreds of millions USD in SI executed in the province, such as Vietnam KungBang Company, Vietnam Chain Yarn Company, Polyester Far Eastern Company, Esquel Garment Manufacturing (Vietnam)... Binh Duong province has adequate material facilities and technical infrastructure to welcome big corporations and groups to invest in provincial SI.
Particularly, Korean investors have been recently investing in new projects and increasing capital for provincial SI. Some large projects are Lumens Vina Company specializing in manufacturing and processing Blue LED lamps for television, computers, monitors, and electrical applications with an investment of $30 million; SGX Company manufactures and exports shoes with an investment of $12 million...
Among the newly licensed FDI projects in Binh Duong, there is a remarkable project of KVT- 1 tire yarn production of Binh Duong Kolon Industry Company (Korea) in Bau Bang urban and industrial park. This project, with a registered capital of $220 million, specializes in producing high-strength HMLS polyester yarns for high strength tires. Besides, there is project of Taiwan manufacturing area, with the main enterprise is Vietnam DDK Company, specializing in producing bicycle accessories with investment capital of up to $250 million...
To well implement solutions to supporting SI
The province saved 300ha in Bau Bang urban and industrial park to attract investment capital in SI. In recent years, this industrial park has been expanded to 1,000ha to meet the demands of this industry.
Furthermore, Provincial People's Committee issued a Decision on the promulgation of investment portfolio of socio-economic infrastructure development of Binh Duong province in 2017-2021, including SI infrastructure. Currently, the province is building a list of preferential policies to attract investments including SI in Binh Duong province.
The province is also implementing the Scheme on SI cluster development in Binh Duong province up to 2020 towards 2030. To realize SI development objectives, the province has been strengthening solutions of developing local human resources. In fact, the linking of local human resource training programs with human resources in other countries in the region and the world with international standardization at Eastern International University, Vietnam-Germany University has opened a new advantage in human resource for the province in the coming time.
Reported by Tieu My – Translated by Ngoc Huynh
