Manufacturing hub Binh Duong plans 10 new industrial parks
The Industrial Zones Authority of Binh Duong province, a manufacturing center in southern Vietnam, is promoting the establishment of 10 new industrial parks (IPs) in the 2023-2030 period.
Between now and the end of 2025, the southern province will set up two new IPs with a total land area of about 1,000 hectares in Bac Tan Uyen district and Tan Uyen town.
One of them will be an 800-hectare specialized mechanical IP, which aims to attract less labor-intensive hi-tech mechanical industries; and the other, the 200-hectare Tan Lap 1 IP, will specialize in wood production and processing.
An industrial park in Binh Duong province, southern Vietnam. Photo by The Investor/Vu Pham.
By the end of 2030, eight more industrial parks will be developed in the districts of Bac Tan Uyen, Dau Tieng and Phu Giao to “synchronously develop industrial production” in the province. They will cover a total area of over 6,000 hectares along Ho Chi Minh City’s Ring Road 4.
Provincial authorities have said that the province plans to have a total of 33 IPs covering 14,790 hectares, accounting for 7.9% of the country’s total (416). Of these, 28 IPs, spanning 11,962 hectares, have been put into operation.
As of the first quarter of 2024, IPs in Binh Duong had accommodated 3,112 valid projects: 2,433 FDI projects with a total registered investment capital of $29.5 billion; and 679 domestic investment projects worth VND94 trillion ($3.77 billion). The province attracted $177 million worth of investment capital in Q1/2024, up 385% year-on-year and achieving 14.75% of this year's plan.
The Binh Duong Industrial Zones Authority has said that the province plans to attract about 130-140 investment projects into industrial parks this year. Of these, FDI capital is expected to reach $1.2-1.3 billion, while domestic investment will amount to VND1.1-1.2 trillion ($48.1 million).
It also aims to lease and sublease 100-150 hectares of land in IPs for total revenues of $35-40 billion, employing 5,000 people in the process.
Together with HCMC and Dong Nai province, Binh Duong is a manufacturing hub in southern VIetnam.
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