Binh Duong to Add 10 New Industrial Parks by 2030

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Binh Duong province in Vietnam has announced plans to develop 10 new industrial parks by 2030, with the aim of attracting investment from the United States, South Korea, and China.

Enhancing Economic Growth

In a recent conference on March 15th, Nguyen Trung Tin, Head of the Management Board of Binh Duong Industrial Parks, highlighted the province’s goals to attract approximately 130-140 projects to its industrial parks this year. These projects are expected to bring in a total investment of $1.2-1.3 billion and generate 1,100-1,200 billion Vietnamese Dong in domestic resources. Moreover, these developments will create employment opportunities for around 15,000 workers and generate a revenue of $35-40 billion.

Expanding Industrial Parks

The Management Board is also planning to develop an additional 10 industrial parks by 2030. Among them, two industrial parks in Bac Tan Uyen District and Tan Uyen City will be established within the next two years, covering a total area of 1,000 hectares. The remaining eight industrial parks in Bac Tan Uyen, Dau Tieng, and Phu Giao districts will be implemented by the end of 2030, covering a total area of over 6,000 hectares.

Binh Duong has allocated approximately 45,000 hectares of land for urban and industrial development. Alongside new investments, the province will also expand its existing industrial parks to attract industries with high value and new technologies.

Attracting International Investment

The Management Board has expressed its intention to attract investment from countries such as the United States, Japan, South Korea, and China into these future industrial parks.

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In the previous year, Binh Duong attracted approximately $1.2 billion in foreign investment and 6,000 billion Vietnamese Dong in domestic capital to its industrial parks. Currently, there are nearly 3,100 projects in the industrial parks, with 77% of them being foreign direct investment (FDI) projects and the remaining being domestic projects. The total investment capital in these projects amounts to nearly $33 billion.

As Binh Duong continues to prioritize the development of its industrial parks, the province aims to create a favorable environment for both domestic and international investors, further boosting its economic growth and becoming a key player in the global marketplace.

Author: Ngoc Diem