Resolution No. 09 of the Executive Committee of the Binh Thuan Provincial Party Committee (14th term) on industrial development until 2025, with orientation to 2030, sets the goal of developing industry into an economic pillar, creating an important driving force to promote local socio-economic development… Taking advantage of the potential and advantages of the southernmost coastal region of Central Vietnam, despite facing many difficulties in recent years, Binh Thuan's industrial sector has shown positive transformation…
Signs of improvement
Recently, at the end of August 2023, the Prime Minister issued a Decision on the investment policy for the construction and operation of infrastructure in Son My 2 Industrial Park - Phase 1, Binh Thuan province. Simultaneously, the investor was approved, Dong Saigon Industrial Investment and Development Joint Stock Company, to implement this project in Son My commune, Ham Tan district, with a land use scale of nearly 470 hectares (including technical infrastructure land)... In July of this year, the People's Committee of Binh Thuan province issued a decision approving the investment policy and the investor for the Son My LNG Terminal project, Son My LNG Terminal Co., Ltd. With a total investment of over 31,430 billion VND, the Son My LNG Terminal project is considered the largest in the country to date. Upon completion, it will provide crucial infrastructure for LNG import and supply in Vietnam. Furthermore, this project supports the transition to clean and sustainable energy sources, contributing to reducing environmental impact and ensuring the country's energy security.
Also in 2023, Binh Thuan's industrial parks continued to attract several large-scale projects such as the AME aluminum production plant and the Song Binh titanium slag processing project, with a total registered capital of nearly 1,000 billion VND and 3.6 million USD. To date, Binh Thuan has 6 completed industrial parks in operation, currently attracting nearly 90 secondary projects (including 28 foreign investment projects) with a total registered capital of nearly 16,000 billion VND and hundreds of millions of USD. Simultaneously, the locality also commenced construction of Son My I Industrial Park (1,070 hectares) at the end of August last year, and is preparing to start construction of infrastructure for Tan Duc Industrial Park (300 hectares) in the near future… Regarding industrial clusters, the entire province has established 27 clusters and allocated more than 170 investment projects. Duc Linh district, in particular, is becoming a “bright spot” attracting investment to industrial clusters and contributing to job creation for many local workers. Among them, Nam Ha Vietnam Footwear Co., Ltd. (located in Nam Ha Industrial Cluster - Dong Ha commune, Duc Linh district) has completed the construction of a factory specializing in the production of export sports shoes, expected to officially start operations at the end of 2023. Accordingly, in phase 1, the factory needs to recruit approximately 7,000 workers, and when expanded in phase 2 with more factories, it will create jobs for about 20,000 workers.
According to the Department of Industry and Trade, in recent years, the internal structure of Binh Thuan's industrial sector has shifted in a positive direction, attracting many large-scale industrial investment projects, especially in the energy sector. In particular, the electricity production and distribution industry has shown high growth, belonging to the most efficient sector and serving as the main driving force for local industrial development. Currently, Binh Thuan has 47 power plants in operation with a total capacity of 6,523.21 MW, including: 4 thermal power plants at Vinh Tan Power Center (total capacity 4,284 MW), 7 hydropower plants (total capacity 819.5 MW), 9 wind power plants (total capacity approximately 300 MW), 26 solar power plants (total capacity over 1,110 MW), and 1 diesel power plant in Phu Quy island district (capacity 10 MW). Along with the power grid system (500 kV, 220 kV, 110 kV, medium voltage and low voltage) that has been regularly invested in, renovated, and upgraded, a safe, stable, and continuous power supply has been ensured for the socio-economic development, security, and national defense of the province. Thanks to this, Binh Thuan not only ensures electricity supply for the key economic region of the South but also contributes to ensuring national energy security…
Industrial destination
Besides its industrial development potential, Binh Thuan's strategic location as a crucial gateway connecting the Southeast, Central Highlands, and Central Coast regions also makes it attractive to investors from all over. Especially with the recently opened Dau Giay - Phan Thiet and Phan Thiet - Vinh Hao expressways, connectivity to the Southern key economic region has become even more convenient.
With its positive transformation, Binh Thuan is considered one of the emerging industrial destinations and is attracting investors to explore and promote large-scale projects aimed at exploiting the potential and strengths of this southern central coastal region. Recently, the provincial People's Committee received a delegation from Viglacera Corporation - JSC (Ministry of Construction), led by General Director Nguyen Anh Tuan, to work in Binh Thuan. This company has the capacity and experience in investing in, constructing, and operating infrastructure, as well as managing and operating industrial parks in Vietnam. During this visit to Binh Thuan, Viglacera Corporation - JSC expressed its desire to invest in the infrastructure of an industrial park with an area of approximately 500 hectares in the province…
In mid-2023, a survey team from the Southern Investment Promotion Center (under the Foreign Investment Agency - Ministry of Planning and Investment) also visited Binh Thuan to explore the investment environment. The team included representatives from foreign business associations (Singapore, Malaysia, India) in Vietnam, the Trade Office of the Korean Consulate General in Ho Chi Minh City, and several domestic corporations. During the exchange, the survey team from the Southern Investment Promotion Center highly appreciated the potential and advantages of the locality and stated that both FDI investors and domestic enterprises have a need to register to implement projects in waste-to-energy plants, renewable energy production, and the construction of industrial park and cluster infrastructure. At the workshop on solutions to promote investment in industrial parks in Binh Thuan province, held a few months ago, many opinions also expressed optimism in attracting industrial projects to the locality, as the "bottleneck" in external transportation has been largely resolved. Furthermore, with its potential for industrial development, Binh Thuan can proactively choose priority sectors to attract investment projects. For example, the application of science, technology, and high-tech, environmentally friendly industries, focusing on high technology, digital technology, software technology, and artificial intelligence, aligns with current development trends.
Local authorities consistently demonstrate respect and understanding towards partners, readily welcoming and committing to creating favorable conditions and working alongside businesses to gradually transform Binh Thuan into an ideal investment destination, including in the industrial sector.
Resolution No. 09 (issued on December 31, 2021) of the Executive Committee of the Binh Thuan Provincial Party Committee (14th term) on industrial development until 2025, with orientation to 2030, clearly states the guiding principles. These are: Developing the province's industry to be modern, sustainable, linked to urban and service development, gradually creating a sustainable industrial ecosystem… In addition, emphasis is also placed on developing the energy industry, high-tech industry, software industry, and new materials industry...
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