Innovation in thinking and strategy
According to the report of the Department of Finance, the period of 2019-2024 marks an impressive development journey of Binh Duong in attracting FDI, with total FDI capital reaching more than 14.3 billion USD, of which newly registered capital accounts for 6.8 billion USD (equivalent to 47.7% of total capital). FDI capital has become the main driving force for the comprehensive and sustainable development of Binh Duong.
To strengthen Binh Duong's "brand" in attracting FDI capital, the province has made significant changes in the structure of industries and the origin of investment partners, contributing to shaping a more balanced and sustainable economic development strategy. Since 2021, the province has strongly shifted to prioritizing attracting projects in the fields of high technology, supporting industries and logistics. These fields are not only in line with global trends but also reduce dependence on labor-intensive industries, while increasing production value and competitiveness in the international market. This shift is demonstrated through the implementation of major projects such as: Denmark's first carbon-neutral Lego factory in Vietnam in Vietnam - Singapore Industrial Park III with an investment capital of more than 1 billion USD; high-tech equipment manufacturing factories and logistics projects serving the global supply chain. In the high-tech sector, Binh Duong not only attracts new projects but also encourages existing investors to increase capital to expand production scale and improve technology.
In November 2022, Lego Group started construction of a factory project with an investment value of 1.36 billion USD in VSIP III Industrial Park. After 02 years of construction, Lego Group has tested the production line. Photo: Leaders of Binh Duong province and Lego Group perform the test operation ceremony of the production line
Asian countries such as Japan, South Korea and China (including Taiwan) continue to be strategic partners, maintaining a strong presence in the fields of processing, manufacturing and real estate. In particular, Japan and South Korea not only invest in manufacturing but also expand into research and development (R&D) projects, contributing to improving the province's technological capacity. Meanwhile, the participation of investors from Europe and North America has also increased significantly, reflected in outstanding projects from Denmark, the Netherlands and the United States in the fields of manufacturing and high-tech industries, bringing advanced technologies and modern management methods.
Japan, South Korea and China (including Taiwan) continue to be strategic partners, maintaining a strong presence in the processing, manufacturing and real estate industries. Photo: Japanese electronics factory in Vietnam-Singapore Industrial Park II
Sharing experience in attracting FDI capital, Mr. Vo Van Minh - Chairman of the Provincial People's Committee said: "In recent times, Binh Duong has implemented breakthrough solutions to promote FDI capital attraction. The province has always been proactive in improving the investment environment, making policies transparent and enhancing international connections. In 2024, Binh Duong attracted more than 2 billion USD in FDI capital, exceeding the set target, rising to second place in the country after Ho Chi Minh City. That is the result of the strategy of developing green industrial parks, new generation industries, creating a foundation to attract quality investors in the fields of high technology, digital economy and artificial intelligence. Typically, the Lego Factory project of the Lego Group (Denmark) is expected to open a new chapter in attracting FDI capital to Binh Duong, as well as opening a wave of greener, higher quality investment from European enterprises in the province".
Attracting sustainable investment
2025 is a special year for Binh Duong as the province is determined to achieve double-digit growth; continue to become a leading destination for investment attraction, innovation, science and technology development and create an equal and safe business environment for businesses and investors. In particular, it aims to attract strategic investment projects, especially focusing on green industries, supporting industries and renewable energy.
An optimistic signal to start a new year with the expectation of achieving many good results is that on February 1, 2025, the Provincial People's Committee granted investment certificates to 07 FDI projects with a total investment capital of nearly 1 billion USD. Notable ones are the Vietnam - Singapore Industrial Park Joint Venture Company Limited (VSIP) with the VSIP III infrastructure investment project ; the new urban area project of VSIP Binh Duong Housing Development Company Limited; the Timotion Vietnam Factory project and the Axman (Vietnam) Company Limited project at VSIP III ... In addition, with favorable production and business results in recent times, many FDI enterprises operating in Binh Duong have adjusted to increase their investment capital such as: Cheng Loong Binh Duong Paper Company Limited project at Protrade Industrial Park expanded by 50 million USD; Deneast Vietnam Company Limited project at VSIP IIA increased by 40.2 million USD; Dongil Rubber Belt Vietnam Co., Ltd. project in Bau Bang Industrial Park invested an additional 15 million USD.
Binh Duong grants investment certificates to FDI projects. Photo: Government leaders, ministries, and Binh Duong province take souvenir photos with investors
Mr. Gu Jung Pin - General Director of Cheng Loong Binh Duong Paper Co., Ltd. said: "Sustainable development is the strategy and purpose of the Company's operations. We start from recycling waste paper as raw materials to produce recycled paper and packaging products. The replaced raw materials created during the production process, including waste discharged during the paper production process and biogas from wastewater, are all recovered by the factory's boiler and then put into the production process. At the same time, we build a complete and advanced wastewater and exhaust system to ensure no environmental pollution. Therefore, the Company's factory is an industry that ensures a circular economy and is environmentally friendly."
In order to continue to be a destination for domestic and foreign investors, Binh Duong is making efforts to implement regional transport infrastructure projects, plan industrial zones and clusters, redesign development spaces, attract high-quality investment; at the same time, promote digital transformation, green economy, and circular economy in line with the province's sustainable development goals. Specifically, the province has planned about 16,000 hectares of new industrial land to form a new generation industrial belt along Ring Road 4, Ho Chi Minh City - Thu Dau Mot - Chon Thanh Expressway, Ho Chi Minh Road (section through Binh Phuoc - Binh Duong - Tay Ninh - Long An provinces), so there will be nearly 200 km of expressway through Binh Duong, connecting airports, seaports... thereby creating new momentum and development space for the locality. Planning economic, industrial, urban and service corridors, linked with inter-regional transport corridors such as Ring Road 3 and Ring Road 4 of Ho Chi Minh City and national highways. Industrial parks will develop according to a model linked with transport belts to facilitate transport and inter-regional connections, creating economic development momentum not only for Binh Duong but also for the entire Southeast region. The industrial park system will be arranged along the main transport belts and corridors, especially the area along Ring Road 4 and the expressways connecting to seaports and international airports, helping to enhance transport and logistics connectivity .
Leaders of the Government, Ministries, branches and localities performed the groundbreaking ceremony of the Ho Chi Minh City – Thu Dau Mot – Chon Thanh Expressway.
Along with promoting infrastructure investment, Binh Duong continues to reform administrative procedures, simplify and digitize investment licensing and business registration processes, etc. to help save time and costs for businesses in carrying out administrative procedures.
Speaking at the recent meeting of Industry Associations, Business Associations and Foreign Investment Associations in early 2025, Chairman of the Provincial People's Committee Vo Van Minh said that in the current period, Binh Duong is promoting digital transformation to build a digital government, digital economy, digital society, and build a new ecosystem to promote development. Binh Duong's investment attraction policy has shifted to selectively attracting investment in enterprises with high technology and added value, environmentally friendly, prioritizing digital economy and green economy to create harmony between socio-economic development and green growth, contributing to building Binh Duong smart city to reach international standards. Binh Duong is becoming a production destination for many quality projects.
With a strategic orientation for developing the information technology industry, Binh Duong is forming a concentrated information technology park and data center to attract investment in electronic products, semiconductor industry, IoT, artificial intelligence and network security; contributing to the formation of a high-tech dynamic region connecting with Dong Nai and Ba Ria - Vung Tau provinces.
"With a strong commitment to improving the investment environment, enhancing the quality of public services and always accompanying the business community, Binh Duong will continue to be an attractive destination for domestic and foreign investors" - Chairman of the Provincial People's Committee Vo Van Minh affirmed.
Binh Duong currently has 65 countries and territories registering for investment. Of which, Taiwan (China) leads with 896 projects, total investment capital of more than 6.6 billion USD, accounting for 20% of the number of projects and 16% of the capital. Japan ranks second with 357 projects, total registered capital of 5.99 billion USD, accounting for 8% of the number of projects and 14% of the capital. Singapore ranks third with 320 projects, total investment capital of 5.92 billion USD, accounting for 7% of the number of projects and 14% of the capital. Up to now, Binh Duong ranks second in the country in attracting foreign investment capital (after Ho Chi Minh City) with 4,399 projects granted valid investment registration certificates with a total registered investment capital of more than 42.4 billion USD, accounting for 8.5% of the total foreign investment capital of the country.
Source: https://www.binhduong.gov.vn/Lists/TinTucSuKien/ChiTiet.aspx?ID=15832
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