FROM IMPRESSIVE BIG PROJECTS…
On September 11, 2023, Binh Phuoc granted the investment registration certificate for the HaoHua Tire Factory Project (Vietnam) to investor Shandong HaoHua Tire under HaoHua Group (China). With a total capital of 500 million USD, this is the largest FDI project ever in Binh Phuoc province. The factory is built on an area of 43 hectares in Minh Hung - Sikico Industrial Park (Hon Quan district), with a capacity of 14.4 million tires per year. After just over 1 year, on December 14, 2024, phase 1 of the HaoHua (Vietnam) Automobile Tire Factory was inaugurated and put into operation.
Deputy Prime Minister Tran Hong Ha and formerPresident Nguyen Minh Triet, along with leaders of central ministries, agencies, and Binh Phuoc and Binh Duong provinces, visited HaoHua Vietnam Tire Factory - Photo by Tien Dung
Delegates perform the button-pressing ceremony to inaugurate phase 1 of the automobile tire factory of HaoHua Company Limited (Vietnam), Minh Hung - Sikico Industrial Park, Hon Quan District, Binh Phuoc Province - Photo: Tien Dung
The first phase of the HaoHua (Vietnam) Company Limited's tire manufacturing plant with a total investment of 500 million USD has just been inaugurated and put into operation - Photo : Tien Dung
Mr. Vuong Khac Cuong, Chairman of HaoHua Group (China) said: Deciding to choose Binh Phuoc as an investment destination, we consider this as our second home. During the project investment process, we received very positive attention and support from the leaders of the provincial departments and industrial parks in terms of procedures, legal documents, and human resources... With that support, we are more determined to quickly put the project into operation and expand the project into phase 2. We hope to contribute to the prosperity of Binh Phuoc and bring benefits to the people in the province.
Along with the completion of phase 1, in November 2024, HaoHua Group continued to invest an additional 280 million USD to expand the factory by 31 hectares of land also in Minh Hung - Sikico Industrial Park. This expansion project is expected to reach a capacity of 10 million tires per year, equivalent to a revenue of 322 million USD. When both phases are completed, the total capacity of the project will reach 24.4 million tires per year, bringing in a minimum revenue of nearly 1.1 billion USD. Thus, HaoHua Group has increased its total investment capital to 780 million USD, becoming the largest tire manufacturing enterprise in Vietnam. Located in the largest rubber raw material area in the country, the project opens up great prospects for the specialized rubber processing industry in Binh Phuoc. “As the management and operation unit of Minh Hung - Sikico Industrial Park, we are committed to always accompany and support HaoHua Group throughout the factory production process, ensuring the most favorable conditions for the business to operate effectively. At the same time, we will closely cooperate with HaoHua Group to quickly implement the procedures for building the second phase of the factory, helping the business to soon go into stable production in Binh Phuoc” - Mr. Huynh Thanh Chung, General Director of Minh Hung - Sikico Joint Stock Company affirmed.
Minh Hung - Sikico Industrial Park has a total area of about 1,400 hectares, and is implementing phase 1 with an area of 655 hectares. The industrial park started receiving investors in 2019, but so far has filled about 50% of the area, with 42 investors, 45 projects with a total capital of over 1 billion USD. The industrial park currently has many factories and enterprises under construction with a bustling, urgent atmosphere. Many companies and enterprises have come into operation, creating products, contributing to increasing the proportion of industry in Binh Phuoc province, promoting the development of other supporting industries, creating many jobs for workers in and outside the province. |
…TO THE INDUSTRIAL PARK IS FILLED
In 2019, Dong Xoai III Industrial Park (Dong Xoai City) officially came into operation. The industrial park has an area of 120 hectares with Binh Phuoc Housing Investment and Trading Joint Stock Company as the infrastructure investor. Located in a favorable location with good policies to attract investment, up to now, the industrial park has achieved an occupancy rate of over 98% of the area with 35 investors, total capital of more than 200 million USD. Currently, the industrial park has many projects under construction and 17 companies and enterprises have come into operation in the light and clean industries. The projects put into operation bring high efficiency and create jobs for about 8,000 workers and laborers. Being filled after 5 years of operation, this proves that Dong Xoai III Industrial Park in particular and industrial parks in Binh Phuoc province are strongly attractive to investors.
Dong Xoai III Industrial Park, Dong Xoai City, Binh Phuoc Province, after 5 years of operation, has now filled 95% of its area.
Industrial parks in Binh Phuoc province come into operation, creating jobs for tens of thousands of workers.
Fortune Technology Co., Ltd. (Vietnam) has been present since the early days of Dong Xoai III Industrial Park. Operating in the field of office chair production for export, the company currently has more than 450 workers and laborers, mainly local people. Seeing the efficiency after 4 years of production here, the company decided to expand the scale of the factory in phase 2 from 3 hectares to 5 hectares in early 2025 with a total investment of 6 million USD for both phases. “Binh Phuoc has good planning and will develop strongly in the future; the people are friendly and hard-working, these are the prerequisites that attract us. In the early stages, the government actively supported the company in carrying out paperwork procedures, regularly visited, encouraged and resolved difficulties and problems. We are very grateful and will do our best to contribute to the development of Binh Phuoc” - Mr. Dai Wei, Director of Fortune Technology Co., Ltd. (Vietnam) shared.
PROVINCIAL PLANNING - A GREAT DRIVING FOR FDI ATTRACTION
At the conference announcing the Provincial Planning for the period 2021-2030, with a vision to 2050, Binh Phuoc granted investment registration certificates to 32 enterprises with a total capital of more than 628.7 million USD. The announced Provincial Planning will open up new development space, removing bottlenecks and bottlenecks for all sectors and fields, especially in industry and construction. This is a time marking an impressive new stage of industrial development in Binh Phuoc.
Binh Phuoc province leaders award investment certificates to businesses - Photo : Quoc Viet
According to the approved provincial planning, by 2030, the total area of industrial land in Binh Phuoc will be 18,105 hectares, ready to meet the needs of domestic and foreign investors. To implement the planning and industrial development goals, Chairman of the Provincial People's Committee Tran Tue Hien said: In the coming years, the province will focus resources on investing in infrastructure development, especially key transport projects; investing in expanding industrial parks. In addition, the province will strengthen regional cooperation and linkages; focus on investing in developing vocational training facilities, improving the quality of human resources to serve industrial development.
Up to now, Dong Xoai III Industrial Park (Dong Xoai City) has filled 98% of its area - Photo : Tien Dung
It can be seen that FDI capital flows in recent years have had a great impact on increasing social investment capital, promoting economic growth, increasing budget revenue and export sources as well as creating a positive economic restructuring for Binh Phuoc. Along with that, FDI enterprises coming into operation have transferred advanced and modern technologies, contributing to human resource development, increasing labor productivity, creating jobs and increasing income for workers. This is also the goal that the Provincial Planning for the period 2021-2030, with a vision to 2050, aims for.
The provincial planning for the period 2021-2030, with a vision to 2050, is a new vision, a new opportunity for Binh Phuoc to achieve new values. Potentials and strengths have been identified, bottlenecks have been pointed out, specific goals, directions and solutions are clear. Binh Phuoc has a healthy, stable and sustainable investment and business ecosystem, ready to welcome investors. Deputy Secretary of the Provincial Party Committee, Chairman of the People's Committee of Binh Phuoc province Tran Tue Hien |
Binh Phuoc currently has 15 industrial parks with an area of 6,061 hectares, of which 13 have been put into operation, reaching an occupancy rate of about 69%. FDI attraction is a bright spot in the province's socio-economic picture in recent years. With Binh Phuoc having just granted investment certificates to 32 projects with a total capital of more than 628.7 million USD, the province now has more than 430 FDI projects with a total capital of more than 5 billion USD. These impressive figures believe that the industrial goals set out in the province's planning can completely become a reality in the future, making Binh Phuoc a modern, prosperous and civilized industrial province.
Source: https://baobinhphuoc.com.vn/news/1/168277/binh-phuoc-cat-canh-cung-nhung-du-an-fdi
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