Binh Duong Province will begin building of two big industrial zones of greater than 1,000 hectares every this yr with a watch on international traders.
Chairman of its Folks’s Committee Vo Van Minh stated building of the Viet Nam – Singapore Industrial Park III (VSIP III) in Bac Tan Uyen District would start this month.
When it opens, the province would prioritise high-tech tenants and labour-intensive industries resembling attire and footwear, he stated.
Within the second quarter, work would start on the Cay Truong Industrial Park in Bau Bang District, he added.
Binh Duong additionally plans to develop the Nam Tan Uyen and Rach Bap industrial parks together with a lot of others to fulfill the growing demand from home and international traders.
Binh Duong is without doubt one of the quickest rising provinces in the important thing southern financial zone and among the many hottest funding locations within the nation.
The southern key financial zone, probably the most vibrant enterprise area within the nation, is rising at a tempo 50 per cent sooner than the nationwide common.
Simply twenty years in the past, Binh Duong was an agricultural space with modest infrastructure, however is now the third largest FDI vacation spot within the nation behind solely HCM Metropolis and Ha Noi.
It’s residence to greater than 3,400 firms from 64 nations and territories and trades with 200 nations.
Within the first two months of this yr, the province’s economic system prospered, with the economic index growing by 6.1 per cent, exports growing by 8.7 per cent with a commerce surplus of US$2 billion and funds revenues reaching 20 per cent of the yr’s goal.
This yr, Binh Duong expects financial progress of 8 – 8.3 per cent and industrial manufacturing to rise by 8.9 per cent. FDI flows are anticipated to exceed US$1.8 billion.