In the early months of 2025, Binh Duong remains a prime destination for numerous investors. By swiftly recognizing the demands of development and the trend toward attracting green investments, Binh Duong is dedicated to significantly enhancing its investment and business environment, thereby improving competitiveness to align with the new production paradigms of the 4.0 industrial revolution.
Numerous favorable indicators
Binh Duong has emerged as a prominent destination for foreign direct investment (FDI) within the nation. To date, Binh Duong boasts 4,459 FDI projects with valid investment registration certificates, amounting to a total registered investment capital exceeding 42.5 billion USD, positioning it second in the country, following Ho Chi Minh city.
In the early days of 2025, Binh Duong provincial People's Committee issued investment approval decisions and investment certificates for seven FDI projects, amounting to nearly 1 billion USD in investment capital. These developments are viewed as encouraging indicators for the continued influx of investment into the province throughout 2025. Notably, in addition to several newly registered projects, such as the Timotion Vietnam Factory with an investment of 29 million USD and the Axman Vietnam Co., Ltd. project (Vietnam - Singapore Industrial Park III) with an investment of 24 million USD, numerous FDI enterprises have also augmented their investment capital. For instance, the Cheng Loong Binh Duong Paper Co., Ltd. project (Protrade Industrial Park) has increased its capital by 50 million USD, while the Deneast Vietnam Co., Ltd. project (Vietnam - Singapore Industrial Park II-A) has raised its capital by over 40 million USD, and the Dongil Rubber Belt Vietnam Co., Ltd. project (Bau Bang Industrial Park) has increased by 15 million USD.
Investors are confident that the evolution of Binh Duong's industrial development model from an industrial-urban-service framework to a smart, ecological industrial-urban-service paradigm will be beneficial. This includes the enhancement of existing industrial parks and the establishment of new green, smart industrial parks equipped with 4.0 technology platforms such as IoT (Internet of Things) and Big Data. Such advancements will facilitate the swift and effective implementation of smart factory models and smart production, thereby enhancing labor productivity within the province.
Louise Schack Elholm, Chairwoman of the Danish Parliament’s Committee on Economic and Trade, stated that Binh Duong is presently an appealing destination for numerous international corporations due to its intelligent urban and industrial development policies. In addition to Lego and Pandora from Denmark, several other prominent corporations have selected Binh Duong as their new production hub. Currently, many Danish enterprises are expressing significant interest in the investment climate in Binh Duong.
To proactively draw in investment
It can be asserted that the FDI sector significantly contributes to budget revenue and plays an active role in technology transfer, job creation, and skills training for workers in Binh Duong. FDI capital is primarily directed towards the processing and manufacturing industry, which is crucial in driving the province's economic growth.
To attain the double-digit growth target for 2025, Binh Duong is resolutely committed to advancing its industrial sector as the primary engine of growth, aiming for an increase in the Industrial Production Index (IIP) of over 11%. The region will continue to prioritize the development of high-tech industries, information technology, electronics, clean energy, and renewable energy sectors, gradually establishing a network of clean industries that integrate technology with environmental protection.
Mr. Trinh Hoang Tuan Anh, Deputy Director of the Department of Finance, stated that to date, the processing and manufacturing sector has comprised approximately 75% of foreign direct investment (FDI) capital in the province, including several projects valued at over 1 billion USD. The recent introduction of large-scale projects utilizing advanced technology further underscores Binh Duong's stability and reputation in attracting FDI. Once operational, these projects are expected to generate a ripple effect, drawing additional significant investors to the province.
According to the plan, the Lego Vietnam Factory (Vietnam - Singapore Industrial Park) of the Lego Group is anticipated to be inaugurated in April 2025. This development reflects the province's strategy to attract and solicit green, high-quality foreign direct investment in the areas of advanced technology, clean technology, digital economy, and artificial intelligence.
Mr. Vo Van Minh, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, remarked that Lego's project represents a new "green milestone" in the flow of foreign direct investment (FDI) into Vietnam, particularly in Binh Duong. The decision of a reputable organization like Lego to select Binh Duong as a strategic destination is significant not only for fostering the high-quality growth of FDI but also for enhancing Binh Duong's reputation among investors, especially potential investors from Europe.
Binh Duong is poised to execute a strategy for attracting investment in the forthcoming phase. In this context, Binh Duong will persist in mobilizing all available investment resources for development, with a particular focus on attracting foreign direct investment (FDI) that emphasizes quality, depth, and sustainability. To maintain its status as a preferred destination for investors, Binh Duong is diligently working on regional transport infrastructure projects, planning industrial zones and clusters, redesigning development spaces, attracting high-quality FDI, and promoting digital transformation, a green economy, and a circular economy in alignment with sustainable development goals for the upcoming period. This approach aims to create new avenues for growth in 2025 and beyond. |
Reported by Ngoc Thanh - Translated by Vi Bao
