With its strategic location and well-developed infrastructure, Binh Duong is considered as an industrial hub of Vietnam, boasting well-planned industrial parks (IPs) and serving as an ideal destination for foreign investors. To date, the province has had over 4,433 valid FDI projects with total registered capital exceeding US$ 42.5 billion, ranking second nationwide in FDI attraction, only after Ho Chi Minh city.
In the new development phase, in order to escape the "middle-income trap", Binh Duong must quickly reform its growth model, focusing on developing new industrial and smart ecosystems, with innovation and science-technology as the driving force and high-quality human resource development as the core. The establishment of Vietnam-Singapore Industrial Park III (VSIP III), the expansion of existing IPs and the acceleration of the formation of high-tech, auxiliary and IT IPs will further create new industrial and high-tech ecosystems. Binh Duong is also restructuring its internal industrial network, upgrading existing IPs into the smart ones with Industry 4.0 technology platforms, enabling investors to implement smart factories, manufacturing quickly and efficiently.
The Fourth Industrial Revolution is unfolding rapidly, transforming every aspect of the world. According to experts, the application of technology and scientific-technical advancements is the only path for Binh Duong to achieve further development. To accomplish this, Binh Duong must accelerate the development and application of science and technology, foster innovation and attract investors in high-tech, high-value-added industries with minimal environmental impact.
Developing high-tech industries is an inevitable trend, not only serving the industrial production of Binh Duong and the country, but also focusing on export and participating in global value chains. This will create a strong foundation for Binh Duong's industries to accelerate and achieve sustainable development in the new phase.
Reported by Triet Nhan-Translated by Kim Tin
