Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.

The attractiveness is driven by synchronized infrastructure, investment incentives, and investor-friendly environment, the company added.

At a recent conference in Thailand to promote investment in Binh Dinh, which saw the participation of more than 100 Thai enterprises and organizations, CEO Nguyen Van Lang stated that Becamex VSIP Binh Dinh follows the Vietnam-Singapore Industrial Park (VSIP) model, aiming to become a modern, synchronized, and eco-friendly industrial zone.

Besides meeting the investment needs of FDI enterprises, the area is envisioned as a livable and professional working environment for both local and international experts and workers, he noted.

Thai Prime Minister Paetongtarn Shinawatra in mid-May paid an official visit to Vietnam, during which the high-ranking leaders of both countries officially upgraded Vietnam-Thailand relations to a Comprehensive Strategic Partnership.

"This reflects a long-term vision and strategic trust, and opens up new opportunities for the cooperation between businesses from both countries," Lang stressed.

On the occasion, Becamex Binh Dinh JSC invited Thai organizations and enterprises to visit and explore investment opportunities in Binh Dinh.

Piyakul Suwansumrit, a representative of Becamex IDC in Thailand, stated that Becamex VSIP Binh Dinh has prepared more than 300 hectares of industrial land with infrastructure, ready to welcome tenants to immediately deploy their projects.

In addition to the central government and provincial incentives, enterprises investing in Becamex VSIP Binh Dinh are offered free support in investor procedure processing, recruitment, connection to a high-quality workforce, and free office space before and after legal entity establishment, Suwansumrit said.

The investors also provide attractive incentives for workers employed in the industrial park, she added.

Noppawut, vice president of SCGJWD Logistic PCL, and Tharabodee, general manager at Bangkok Bank Vietnam, praised the advantages and potential of Becamex VSIP Binh Dinh.

As part of this business trip, Becamex Binh Dinh JSC’s leadership held direct meetings with companies in industries such as textiles, logistics, indoor and outdoor furniture manufacturing, and urban real estate.

From 2025 onward, Becamex VSIP Binh Dinh plans to develop synchronized utility infrastructure, including shophouse complexes, residential areas for experts and workers, recreational areas, parks, commercial centers, and sports facilities.

These are essential amenities to serve the growing community of professionals and workers at the complex, they stated.

The first phase of the $300 million Becamex VSIP Binh Dinh was inaugurated in March 2024. The facility welcomed its first project in September 2023 when Kurz Vietnam, a subsidiary of German thin film producer Kurz, launched a $40 million factory.