Processing and manufacturing industry "keeps pace" with growth

Processing and manufacturing industry maintains growth momentum. In photo: Production activities at R-Pac Vietnam Co., Ltd.

"Attracting" FDI capital

According to the Department of Finance, in the first 4 months of 2025, Binh Duong attracted more than 737 million USD in foreign direct investment (FDI), an increase of 271% over the same period in 2024. By investment sector, foreign investors still focus on investing in the processing and manufacturing industry. Specifically, out of 86 new projects, 58 projects are in the processing and manufacturing industry, with a total capital of nearly 685.5 million USD, accounting for nearly 93% of the total FDI capital registered in the province.

Some large projects in the processing and manufacturing industry registered for new investment and adjusted capital increase, such as: Kumho Tire Vietnam Co., Ltd. (My Phuoc 2 Industrial Park) adjusted to increase by 270 million USD; Cheng Loong Binh Duong Paper Co., Ltd. project (Protrade Industrial Park) adjusted to increase capital by 50 million USD; Deneast Vietnam Co., Ltd. project (Vietnam - Singapore Industrial Park 2-A) adjusted to increase capital by more than 40 million USD...

According to the Provincial Industrial Park Management Board, since the beginning of the year, industrial parks in the province have attracted more than 685 million USD in FDI capital, an increase of 76% over the same period in 2024, reaching 57.1% of the 2025 plan. Currently, industrial parks in the province have basically filled up investment projects. With many positive and effective solutions in accompanying the province's enterprises, enterprises in the industrial parks have maintained a stable production and business rhythm, creating added value for products, contributing to the province's economic growth. Currently, industrial parks in the province are aiming to attract investment in depth, smartly and sustainably.

Mr. Trinh Hoang Tuan Anh, Deputy Director of the Department of Finance, said that recently, the addition of a number of large-scale projects, applying high technology, in important fields such as information technology, electronics industry, clean energy industry, renewable energy, etc. will create a spillover effect, attracting more investors to invest in the province. Up to now, the processing and manufacturing industry accounts for about 75% of FDI capital invested in the province, including many projects worth over 1 billion USD. This continues to demonstrate the stability and prestige of Binh Duong in attracting FDI capital.

Continue to be the growth driver

Industry continues to be the driving force for economic growth in Binh Duong. However, the world economic situation in the first months of 2025 has had many difficulties and complications, affecting the production and export results of enterprises in the province, especially enterprises with export activities to the US market, which are being affected by the new tariff policies of the US Government. Currently, enterprises in the province are taking advantage of the 90 "golden days" to take advantage of exporting orders, restructuring the value chain, improving structural weaknesses and switching to a sustainable growth strategy, diversifying markets, and strengthening supply chains.

Mr. Tu Lam Quan, General Director of TCL Company (Vietnam - Singapore Industrial Park 2), said: “During the 90-day suspension period, we will quickly proceed with the production of export orders to the United States. We hope to receive support from the authorities in recruiting human resources and import and export activities. In the coming time, TCL Vietnam will adjust its customer base, adding more regions outside the United States. We will focus on the markets of countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as well as Southeast Asian countries to increase the proportion of orders and reduce dependence on the United States market.

Currently, there are enterprises in Binh Duong with very large export value to the US market, in which some enterprises in the wood and electronics industries in the US market account for 80 - 85% of the value and export orders. To help enterprises overcome difficulties in the face of the US Government's reciprocal tax on Vietnamese export goods, provincial leaders have directed all levels and sectors to synchronously implement many solutions to remove difficulties and obstacles for enterprises, especially tax policies. Regarding this issue, the Regional Customs Branch XVI has organized dialogues with 400 enterprises in the province to grasp the situation and daily update data on enterprises exporting to the US; at the same time, proactively established a Business Support Team, creating an information channel to promptly handle arising issues for enterprises. The Branch also thoroughly grasps the sense of responsibility, arranges staff to work on holidays to handle export procedures for enterprises; closely coordinates between units so that goods are cleared quickly.

Mr. Nguyen Thanh Binh, Deputy Head of the Regional Customs Branch XVI, said that the branch has proposed to speed up tax refunds, limit screening channel transfers; have a policy to extend the time for goods stored in bonded warehouses that are about to expire after 24 months; support the extension of the time for storage in bonded warehouses; temporarily suspend inspection and examination activities... to create favorable conditions for businesses to focus on exports.

Provincial leaders have been resolutely directing the acceleration of public investment disbursement to create more momentum for economic growth; exploiting new markets for the mechanical, steel, and construction materials industries; and implementing effective solutions to find markets for processed and manufactured industrial products. Thereby, liberating production capacity in the province to further increase growth, because this is the key industry, leading the entire industry.

Binh Duong is focusing on strongly implementing administrative procedure reform, digital transformation, regularly reviewing and resolutely eliminating regulations and procedures issued by localities that cause difficulties for businesses. Binh Duong also promptly makes recommendations to superiors on regulations and procedures that are no longer suitable to reality; shortening the time to handle administrative procedures by 50% compared to regulations to create a more open investment environment.

NGOC THANH

Source: https://baobinhduong.vn/cong-nghiep-che-bien-che-tao-giu-nhip-tang-truong-a346798.html