Binh Duong Focuses on Attracting Investment to IPs

Over the last three years, Binh Duong province has tended to focus its investment attraction to industrial parks (IPs) and industrial complexes in order to utilise their advantages, such as complete infrastructure facilities, professional management and concentrated waste treatment facilities.

However, the number of projects attracted to local IPs and complexes has reached 24 per cent, while the figure is 54 per cent in Dong Nai. By July 2006, the province had shown its determination to attract more investment to local IPs and complexes with the Decision 181. Accordingly, the province has encouraged investors to develop their projects in IPs and complexes while continuing to invest in building more complete IPs and complexes. Thus creating more favourable conditions for investors’ activities, helping them save money and improving their competitiveness. At the same time, local authorities have increased their support for enterprises’ trade promotion activities. 

By October 2006, Binh Duong province had attracted 1,285 foreign-invested projects, capitalised at US$6.507 billion, and 4,237 locally-invested projects with a total registered capital of VND 21,320.4 billion. The province had attracted 831 investors, including 614 foreign-invested enterprises with total registered capital of US$3.535 billion and 217 local enterprises with a total investment of VND 1,901 billion. The province has planned the building of 25 IPs, with 16 already built. Concentrated IPs in the south of Binh Duong have been filled by more than 95 per cent.

 

Until 2010, Binh Duong will continue to develop more IPs in the north, promoting the industrialisation and modernisation of its rural areas while also harmonising the development in its regions and sectors. Apart from six industrial parks with 1,775 hectares within the Binh Duong industrial, urban and service complex, the building of other IPs such as Bau Bang, Rach Bap, My Phuoc 3, Mai Trung, and Nam Tan Uyen has been promoted.

 

The province will set up an association of enterprises operating in its IPs, which will act as the focal point to disseminate policies to, and provide business and investment co-operation support for, members. Also, information technology application will be promoted, linking the province’s Management Board of IPs with other local agencies as well as the Ministry of Planning and Investment to update information for investors.

Apart from IPs, Binh Duong has developed plans for its industrial complexes with the aim of drawing investors outside IPs to more concentrated complexes. So far, eight complexes of such kind have been formed. The complex of An Thanh with an area of 46.1 hectares has completely developed infrastructure facilities, including roads, electricity and water supply networks, and residential areas. Its area has now been filled. The An Phu complex in Thuan An district, with an area of 97 hectares, has been filled and is being expanded to an area of 200 hectares. The Dat Cuoc complex in Tan Uyen district has had its electricity supply, lighting, and water drainage systems completed. At the same time, other complexes, including Binh Chuan in Thuan An, Tan Dong Hiep in Di An, and Thanh Pho Dep in Tan Uyen, have had completely developed infrastructures and initially succeeded in attracting investment. Binh Duong has added 14 more industrial complexes with an area of 2,805 hectares to its plans. Each of these will be an opportunity for the province to attract investors.

In November 2006, representatives from the GS Retail Group from the Republic of Korea went to Binh Duong to seek land for its project to build a centre of industrial support services, trade centre, restaurants, hotels, and logistics and information technology parks. Local authorities have created more favourable conditions for the group to register and invest in IPs. This is because, under the Decision 181 dated July 26, 2006 by the Binh Duong People’s Committee, the project is subject to being located in IPs. Le Viet Dung, deputy director of the Binh Duong Department of Planning and Investment, said it was one of the efforts made by Binh Duong province to gain a professional development of its planning. By December 12, 2006, GS Retail had signed a land rent contract with Becamex to build a trade and service centre in the My Phuoc 3 IP.