Binh Duong Pursuing Sustainable Industrial Zone Development

Binh Duong Pursuing Sustainable Industrial Zone Development After the province was split in 1997, to develop the economy, Binh Duong province defined industry as the groundwork for breakthrough development where the nucleus is construction of infrastructure system of centralised industrial parks, with industrialisation and urbanisation serving as development leverage. Industrial zone construction policy and “rolling out the red carpet to welcome investors” investment policy are wise and right policies of the provincial government. The formation of industrial parks gave a strong boost to industrial development and facilitated trade, service and urbanisation development. The planning and establishment of industrial zones gained public consensus and support of local people. Thus, the province now has 28 industrial parks with a total area of 9,500 ha, of which 25 industrial parks covering 7,539.9 ha are placed under the management of the Binh Duong Industrial Zones Authority. 23 industrial parks with a combined area of nearly 6,984 ha have gone into operation and investment capital for their technical infrastructure construction was VND9,316.25 billion, accounting for 72.34 per cent of total approved funds. Occupancy rate is 53 per cent, higher than the average of the country (48 per cent). With modern infrastructure and stable socioeconomic background, Binh Duong province licensed 19,810 domestic business entities with an aggregate registered capital of VND145,049 billion and 2,525 foreign companies with a total registered capital of over US$21.9 billion. Local industrial parks housed 1,050 foreign direct investment (FDI) projects with a total registered capital of US$7.7 billion and 430 domestic… [Read full story]