To elevate the position of Binh Duong's industry

To reach the goal of double-digit growth by 2025, Binh Duong has identified industry as the key driver of this growth, aiming for a 12% increase in the Industrial Production Index. To achieve these objectives, Binh Duong will continue to prioritize the development of high value-added industries while gradually increasing the localization rate of products.

Restructure the provincial industrial network

Binh Duong has the second-largest economy in the Southeast region, following Ho Chi Minh City. One of the key contributors to its economic growth is the processing and manufacturing industry, which experienced a notable increase of 6.79% compared to the same period last year. According to Provincial Department of Planning and Investment, up to now, Binh Duong has 4,433 FDI projects granted valid investment registration certificates with a total registered capital of more than 42.5 billion USD. The processing and manufacturing industry is at the top, with 3,788 projects and a total investment capital of more than 31.8 billion USD, accounting for 85.5% of the number of projects and 74.9% of the total registered capital.

While the industry is experiencing strong growth, Binh Duong's industrial sector primarily depends on foreign direct investment (FDI) projects. Additionally, reliance on imported raw materials remains a significant weakness in Binh Duong's processing and manufacturing industries. Mr. Nguyen Thanh Toan, Director of the Department of Planning and Investment, said that to overcome the above weaknesses, Binh Duong continues to restructure the provincial industrial network. Accordingly, the province encourages the modernization of existing industries through science, technology, and innovation; continues to maintain and promote the role of the processing and manufacturing industry as the main pillar in the province's industrial production; focuses on the province's key industries; and improves production efficiency through industrial modernization solutions and optimizes trade efficiency.

Binh Duong is also upgrading existing industrial parks (IPs) into smart IPs to modernize existing industries, develop supporting industries (SIPs) to increase the localization rate and industrial innovation, creating favorable conditions for social resources to participate in the development process. In particular, Binh Duong prioritizes the development of supporting industries, promptly completes the planning of raw material and supporting industry zones; continues to create favorable conditions to attract investment, expand production and business of projects in the high-tech sector.

Sustainable industrial development

Binh Duong recognizes the high-tech industry as a key driver for the province's sustainable socio-economic development. To support this, it is conducting research on the establishment of concentrated information technology zones, science and technology industrial parks, and innovation centers. Additionally, Binh Duong is committed to enhancing the private economic sector in terms of quantity, quality, efficiency, and sustainability, increasingly becoming one of the important driving forces to promote the transformation of development methods and restructure the province's economy; building and developing enterprises and products with Binh Duong origin and high competitiveness in the international market.

According to the Provincial Department of Industry and Trade, enterprises in the supporting industry within the province are being provided with the most favorable conditions to gradually participate in the global supply chain, such as: creating linkages and specialization among enterprises in manufacturing, assembling and manufacturing auto parts and components in industrial zones and clusters; soon form a system of suppliers of raw materials and components, large projects, high technology content...

Recently, at the Government Standing Committee meeting with large corporations and enterprises in both the state and private sectors, Mr. Tran Ba Duong, Chairman of Truong Hai Group (THACO), said that in September 2025, THACO will start construction of a mechanical support industrial park in Binh Duong with a scale of more than 700 hectares. This project has a total investment of about 26,000 billion VND (more than 1 billion USD).

Previously, at the end of 2022, the Provincial People's Committee signed a memorandum of understanding with THACO to implement this project. The supporting mechanical industrial park not only serves the automotive sector but also expands to many other industrial sectors. The early establishment of a supporting mechanical industrial park will contribute to solving the shortage of raw materials, saving time and transportation costs; at the same time, creating opportunities for enterprises, especially small- and medium-sized enterprises, to promote cooperation and mutual support, develop together, and participate in the global value chain.

Mr. Vo Van Minh, the Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, stated that to achieve the goal of double-digit growth by 2025, Binh Duong is committed to implementing several effective solutions. With a focus on sustainable and in-depth industrial development, Binh Duong is determined to transform the province into a modern industrial center.

To realize the above goal, Binh Duong has been implementing many synchronous strategies and solutions in investing in transport infrastructure, technology, developing high-quality human resources, supporting enterprises in researching and applying new technologies to improve production and management efficiency. Besides, Binh Duong also promotes cooperation with domestic and foreign enterprises to share experiences, transfer technology and expand markets.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh