In recent years, Binh Duong has applied creatively and effectively policies, mobilized, and utilized investment resources to build and develop a comprehensive and modern transport infrastructure. This is the foundation and driving force to attract investment and accelerate socio-economic growth of the province.
On My Phuoc - Tan Van Highway, the section of My Phuoc - Bau Bang is being speeded up for opening in 2021.
A development platform
With the motto "Traffic must go first and be proactive", Binh Duong has mobilized resources to invest in the construction and development of transport infrastructure as the foundation for economic development of the province. Up to now, along with the national Highway 13, My Phuoc - Tan Van, My Phuoc - Bau Bang, DT741, DT743, and DT746, specialized roads in industrial parks (IPs), urban areas have been well constructed, creating a driving force for investment attraction, contributing to economic growth of Binh Duong.
My Phuoc - Tan Van is the backbone road of the province, connects southern industrial parks and urban areas with northern industrial parks, urban areas and material areas, remote areas in the province. This route goes through 5 localities: Bau Bang, Ben Cat, Thu Dau Mot, Thuan An and Di An. This is also a route that at the same time undertakes internal and external traffic duties. With determination to make a breakthrough in infrastructure, which is a strategic first step in socio-economic development of the province, reduces traffic congestion and transportation costs, time for businesses in the area, Binh Duong has accelerated execution progress and completed this route to put into use. This contributes to the formation and effective implementation of the policy on bringing industry to northern districts of the province.
As the investor of many key transport infrastructure projects of the province, Nguyen Van Hung, Chairman of Becamex IDC, said: “In 2021 Becamex IDC will open the entire My Phuoc-Tan Van Highway. After clearing this route, businesses and companies in Ben Cat Town, Bau Bang District will able to reduce 30% of their time and cost of goods transportation from factories to ports. In June 2021, we will open DT743 Highway from Km 00 to Km 10+860; complete the bidding procedures for Highway 13 project and landscape improvement project against traffic congestion (OM) before April 30th 2021. These are backbone roads, which have a very important meaning, large impact on provincial economic growth".
Along with the projects funded by socialization capital, in recent years, the province has invested in some key projects funded by State budget, such as DT744, DT745, DT747a, 7A, Pham Ngoc Thach, Muoi Muon - Tan Thanh, Thoi An road and bridge, Thu Bien road and bridge, Bach Dang bridge etc. contribute to synchronizing the provincial road transport infrastructure network, creating inter-regional connection, attracting investment resources, meeting the general development requirement, and creating a spacious appearance for the city. With a synchronous transport infrastructure system that creates favorable conditions for domestic and foreign enterprises to invest in Binh Duong province, in recent years, provincial economic growth rate has been in the top positions of the country.
Strong attraction of foreign investment
Complete, modern and comprehensive investment in infrastructure is a favorable condition for companies to manufacture, trade and transport goods. Therefore, Binh Duong has been one of the leading localities in the country in terms of attracting foreign investment capital, and are prioritized by the domestic and foreign business communities. Accumulatively by the end of February 2021, the province attracted nearly 4,000 FDI projects with a total registered capital of nearly 35.8 billion USD, ranked 3rd in the country in FDI attraction, only after Ho Chi Minh City and Hanoi.
FDI projects have been playing a motivating role to accelerate both economic and social development of the province. In 2020, FDI continued to be an important additional source of capital, accounting for more than 46.9% total social development capital, contributing to accomplishments of Binh Duong and exceeding targets, gross regional domestic product (GRDP) reached 6.91%, GRDP per capita reached 151 million VND. Additionally, FDI capital helped promoting provincial economic restructuring into the right direction, in which industry and services play a key role with proportions of 66.94% and 21.98% respectively. FDI enterprises have participated in and accelerated the process of industrialization and modernization in Binh Duong through the transfer and innovation of manufacture technology, contributing to the creation of a number of key industries of the province, such as wood processing, textiles, footwear, electronics...
Up to now, the FDI sector has created jobs for more than 500,000 workers, contributing to improving social welfare, living standards, and increasing income per capita annually. In addition, FDI inflows in the fields of commerce, services and real estate have changed method, improved quality of goods and service provision for the community, contributing to completing industrial parks' infrastructure, transportation, post and telecommunications, step by step motivating Binh Duong province's strong and rapid development towards civilization and modernity.
Nguyen Hoang Thao, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee: “In order to continue promoting industrial growth accompanied by sustainable economic development, in the coming time, Binh Duong will continue to research and promulgate policies to mobilize non-budget capital sources for infrastructure, engineering, transportation projects, especially important external traffic works in the province in the direction of uninterrupted synchronization. To give priority to reasonable connection between provincial roads and district roads with national traffic system and provinces in the Southern key economic region. To efficiently use investment capital from the State budget, focus on projects with great and spreading power, boosting investment attraction. To step by step invest in a comprehensive and modernized infrastructure system of electricity supply, water supply, drainage, waste treatment, environmental protection, basically meeting demands of production and citizens".
Sanan Angubolkul, Chairman of Vietnam - Thailand Business Council, Vice Chairman of Thai Trade Association: The dynamic development of Binh Duong in recent years has attracted great interest from Thai business community. It shows the dynamism and creativity of Binh Duong provincial leaders and the attention, and support of departments and branches; these have contributed to making Binh Duong be one of the leading localities in the country in FDI attraction. Competitiveness of the province has made spectacular progress, especially accomplishments of Binh Duong in building a smart city and Innovation Region in order to raise the investment attraction level to projects having high added value”.
Yamada Takio, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam: “I am very impressed by the dynamic growth of Binh Duong and happy as Japanese enterprises in the province are increasing in number and expanding in scale. Binh Duong has a modern and synchronous infrastructure. This is a favorable condition for enterprises to come to Binh Duong for investment and business development. In the coming time, I will continue to be an liaison and promote a deep strategic partnership between the two countries, while introducing Binh Duong's investment environment to Japanese businesses, supporting Binh Duong in executing strategic key transport projects in Southern Key Economic Zone to boost Binh Duong's sustainable economic development”.
Reported by Phuong Le - Translated by Ngoc Huynh
