Binh duong Attracting Strong Investment, Aiming to Become Modern Industrial center

With synchronous modern infrastructure, an open investment environment and a consistent motto of Welcoming investors and talents with open arms, Binh Duong is an attractive destination for businesses and investors. The province ranks second nationwide in FDI value, just after Ho Chi Minh City.

Leading light in investment attraction

Binh Duong is one of the country’s leaders of industrial development and FDI attraction and is also one of the largest industrial centers in Vietnam. In 2024, the province obtained positive economic development results: Gross regional domestic product (GRDP) growth of 7.48%, industrial production index (IIP) growth of 7.6%, total import and export value of over US$60 billion, FDI value of US$1.9 billion (up 23.8% from 2023). This result could not be achieved without great contributions from the business community and efforts of the provincial government in improving the investment environment and enhancing competitiveness.

Mr. Vo Van Minh, Chairman of the Binh Duong Provincial People's Committee, emphasized that Binh Duong is determined to concentrate all efforts to achieve the set goals in 2025 to not only welcome Party congresses at all levels and the 50th anniversary of the Liberation of the South, but also create momentum to effectively carry out many major central and local policies and decisions to enable Binh Duong to make stronger breakthroughs.

Accordingly, the province has resolutely carried out solutions to improve indicators such as PCI, PAR, PAPI and SIPAS indices; focused on reviewing and removing difficulties and obstacles for enterprises, creating a favorable business environment for investment and business activities and developing new, creative business ideas; and continued to promote reforms to reduce procedures, time, costs and risks for enterprises. Binh Duong has led 63 provinces and cities in online public services, with an on-time settlement rate of 98.01%.

By continuously improving the business environment and enhancing economic management quality, Binh Duong is always an ideal place for enterprises to make investments and develop their business operations. Currently, the province has the second largest number of enterprises in the Southeast region, accounting for 11.5%, ranked third in the country after Hanoi and Ho Chi Minh City, accounting for 4.6%. In addition, the province has remained one of the largest recipients of investment capital. Specifically, in the first two months of 2025, the Binh Duong Provincial People’s Committee licensed 23 domestic investment projects with a total registered capital of nearly VND42,000 billion (US$1.7 billion, including 16 commercial housing projects. On February 1, 2025, the province granted investment licenses to seven FDI projects with nearly US$1 billion of investment capital. These projects are involved in high-tech, electronics, logistics and industrial real estate industries.

Binh Duong ranks among the country's top provinces in industrial development and FDI attraction

Furthermore, Binh Duong province has planned nearly 20,000ha of industrial land to form a new-generation industrial belt along Ring Road 3 and Ring Road 4 of Ho Chi Minh City, Ho Chi Minh City-Thu Dau Mot-Chon Thanh Expressway and Ho Chi Minh Road (Binh Duong section), aiming to create a strong driving force to entice investors to the province in the coming time.

Industry is a key growth driver

According to the Provincial Planning, by 2030, Binh Duong will become a centrally governed city, one of dynamic and comprehensive development centers of the Southeast Asian region, a leading science, technology and innovation center, and a modern industrial and service center. With a synchronous, modern, smart and sustainable socioeconomic infrastructure system and urban system, Binh Duong will be built into a modern urban, industrial and service center of regional and international class by 2050.

Party General Secretary To Lam visits and holds a working session at the Binh Duong Provincial Military Command, January 5, 2025

To achieve the above goal, Binh Duong province has defined industrial development as a main growth driver, focusing on modernizing existing industries, localizing supporting industries and developing high-tech industries. The province has built a modern industrial center, transformed to a symbiotic model to meet the standards of joining the low-carbon economy, and focused on attracting future industries like industrial machinery and equipment, electronic telecommunications equipment, remote controls, integrated circuit equipment, electronic chips, new materials, chemical engineering, and pharmaceuticals and cosmetics. Binh Duong will develop a modern high-tech ecological industry and make the processing and manufacturing industry a mainstay in the economy.

To become a centrally run city and affirm its position as a dynamic development center of Southeast Asia, Binh Duong will concentrate on science, technology and innovation. It will build smart industrial parks, promote high-tech applications, and facilitate businesses to access innovative solutions to increase product and service values.

By Hoang Lam , Vietnam Business Forum