Demand drives Becamex to consider new industrial park in Binh Duong
Becamex IDC, a leading developer of large-scale industrial townships in Vietnam, has decided to build a new industrial park in its home province of Binh Duong to capitalize on the growing demand for warehouses and manufacturing space.
The VND5,460 billion ($233 million) Cay Truong Industrial Park project will be located in Bau Bang district, about 60 kilometers north of Ho Chi Minh City, Vietnam’s largest economic hub, according to the major. About 85% of the investment will derive from loans.
Becamex has not disclosed the total area of the IP, just saying construction is set for 2022-2026.
In a related development, the Binh Duong-based industrial developer is preparing to set up Becamex-VSIP Electricity Investment and Development JSC to supply power to industrial parks across Vietnam.
VSIP I Industrial Park in Binh Duong province, southern Vietnam. Photo courtesy of VSIP.
VSIP is Vietnam-Singapore Industrial Park Joint Venture Ltd., a partnership between Becamex and Sembcorp Industries, one of Singapore’s biggest conglomerates. The VSIP platform represents a successful business partnership between Vietnam and Singapore, with the joint venture overseeing construction of VSIP III Industrial Park in Binh Duong.
VSIP III will be home to Danish giant toymaker Lego’s latest smart plant, which will cost more than $1 billion and cover 44 hectares.
Like the VSIP platform, the Vietnam joint venture between Becamex and global private equity giant Warburg Pincus, established in 2018 as BW Industrial Development JSC, is familiar across the domestic industrial property market.
Responding to Vietnam’s thirst for industrial real estate development, the American giant set up BW Industrial amid the transformative shift of the manufacturing base from markets like China to Vietnam.
Besides teaming up with Sembcorp, backed by Singaporean sovereign wealth fund Temasek, and Warburg Pincus, Becamex is also in international partnership with Tokyo-based major infrastructure builder Tokyu Corp.
The 35-65 Becamex Tokyu joint venture is the developer of New Binh Duong City, which includes the province’s administration hub, offices, townships, as well as residential, service, and shopping complexes.
Becamex Tokyu plans to build a railway line with funding from the Japanese government to link the new city with HCMC’s first metro route Ben Thanh-Suoi Tien, which is currently under construction.
- Related News
- Read More
Hoa Binh Construction wins $5 bln contract for mega urban project in southern Vietnam
Vietnam's leading contractor Hoa Binh Construction Group has secured a contract to build the first phase of a mega urban area project in Vietnam’s southern metropolis of Ho Chi Minh City.
Real Estate - Mon, September 8, 2025 | 9:22 pm GMT+7
Vietnam's monetary policy remains accommodative: WB
Vietnam's monetary policy has remained accommodative, as State Bank of Vietnam (SBV) interventions contained foreign exchange pressures and increased credit growth, the World Bank Group said in its country economic update.
Economy - Mon, September 8, 2025 | 7:46 pm GMT+7
Property, technology, energy among sectors recording highest M&A activity in Vietnam
Vietnam’s M&A landscape in July recorded 34 completed transactions with the total disclosed and estimated deal value of $786 million, according to Grant Thornton Vietnam.
Economy - Mon, September 8, 2025 | 3:49 pm GMT+7
Vietnam's Van Thinh Phat-tied firm incurs $14 mln loss in H1 as legal woes persist
Bong Sen Corp, the hotel and property arm of troubled Van Thinh Phat Group, posted a net loss of nearly VND356 billion ($14 million) in the first half of 2025, its filing to the Hanoi Stock Exchange (HNX) showed.
Companies - Mon, September 8, 2025 | 3:24 pm GMT+7
Airport-centric urbanization - Vietnam’s new growth engine
In the past, cities in Vietnam would build airports to meet growing transportation needs, but today, airports themselves are becoming the nucleus around which new urban areas emerge.
Real Estate - Mon, September 8, 2025 | 1:36 pm GMT+7
Vietnam’s 8.3-8.5% growth target for 2025 ‘appropriate’: policy advisory council
The Vietnamese government’s GDP growth target of 8.3-8.5% for 2025 and double-digit expansion for 2026-2030 is "appropriate" in the context of favorable macroeconomic conditions and structural reforms, according to the Prime Minister’s Policy Advisory Council.
Economy - Mon, September 8, 2025 | 1:03 pm GMT+7
Enertrag SE proposes 55 MW wind power project in northern Vietnam
The Bac Ninh province People’s Committee is seeking public and ministerial feedback on a 55 MW wind power plant initiated by Enertrag Vietnam Co., Ltd, a subsidiary of German-based global renewables developer Enertrag SE.
Energy - Mon, September 8, 2025 | 11:29 am GMT+7
Southern Vietnam airport project Long Thanh on fast track, test flights set for December
Construction of the Long Thanh International Airport in the southern province of Dong Nai is progressing on schedule, with calibration flights for Runway 1 planned for September 25 and a technical test flight expected on December 19.
Infrastructure - Mon, September 8, 2025 | 11:13 am GMT+7
Why Vietnamese agricultural machinery major VEAM shares on sidelines of market rally?
While Vietnam’s stock market has surged in recent months, sending the benchmark VN-Index from around 1,090 points to nearly 1,700, state-controlled VEAM’s stock VEA has remained flat, trading sideways at around VND39,000 ($1.48) per share over the past year.
Companies - Mon, September 8, 2025 | 8:30 am GMT+7
New train helps tourists explore landmarks of Hanoi, Bac Ninh province
The Hanoi Train officially began operation on Saturday, offering visitors a new way to explore the capital’s landmarks and travel to Tu Son in Bac Ninh province.
Travel - Sun, September 7, 2025 | 8:20 pm GMT+7
Vietnam’s e-motorbike market enters stage of fierce competition
Vietnam’s electric motorbike market is entering a new phase of intense competition as domestic and foreign manufacturers are accelerating their expansion, diversify products, and invest heavily in infrastructure.
Companies - Sun, September 7, 2025 | 6:06 pm GMT+7
HCMC fast-tracks rail projects proposed by private conglomerates
The Ho Chi Minh City People’s Committee has asked municipal agencies to work with major private conglomerates to finalize investment plans for the railway projects they proposed.
Infrastructure - Sun, September 7, 2025 | 1:52 pm GMT+7
Vietnam's Finance Ministry targets 60% public investment disbursement by end-Q3
Vietnam’s public investment disbursement reached VND409.17 trillion ($15.49 billion) in the year to August 31, equal to 39.9% of the year's plan and 46.3% of the Prime Minister’s target, the Ministry of Finance (MoF) reported.
Economy - Sun, September 7, 2025 | 10:53 am GMT+7
Vietnam posts nearly $14 bln trade surplus in 8 months
Vietnam recorded a trade surplus of $13.99 billion in the first eight months of 2025, according to the General Statistics Office under the Ministry of Finance.
Economy - Sun, September 7, 2025 | 10:41 am GMT+7
S&P upgrades ratings of three Vietnamese banks, citing resilient economy
S&P Global Ratings has raised the long-term credit ratings of three major Vietnamese banks, reflecting the stronger resilience of the country’s financial system and continued above-average economic growth.
Banking - Sun, September 7, 2025 | 10:34 am GMT+7
Luong Nguyen Minh Triet appointed top leader of central Vietnam hub Danang
Luong Nguyen Minh Triet, deputy Party chief of Danang and Chairman of the municipal People's Committee, has been appointed the city's Party chief - the highest position in the locality.
Politics - Sun, September 7, 2025 | 9:53 am GMT+7
