THACO invests in a mechanical industrial park to support more than 1 billion USD in Binh Duong
Starting from 2023, Truong Hai Group will focus its resources on researching the project and the People’s Committee of Binh Duong Province will create favorable conditions and support the procedures for investment and construction of the project under the authority of the province and law of Vietnam.
On November 27, a representative of Binh Duong Provincial People’s Committee said that the provincial People’s Committee had just signed a memorandum of understanding with Truong Hai Group Joint Stock Company (THACO) to build a mechanical supporting industrial park in Binh Duong province. Estimated investment scale is about 26 trillion VND (equivalent to more than 1 billion USD).
Accordingly, starting from 2023, Truong Hai Group will focus its resources on researching the project and the People’s Committee of Binh Duong province will create favorable conditions and support investment procedures to build projects according to its competence. province and Vietnamese law.
Currently, Binh Duong authorities have introduced and investors have surveyed a number of potential locations to build a mechanical engineering industrial park, waiting for an official decision.
Mr. Vo Van Minh – Chairman of Binh Duong Provincial People’s Committee – said that up to now, Binh Duong has 29 industrial parks established out of a total of 34 planned industrial parks. Industrial parks in Binh Duong all have high occupancy rates, helping the province to always be in the group of localities attracting the highest foreign investment (FDI) in the country.
However, after nearly 30 years of industrial development, although the business community in Binh Duong has grown stronger, businesses are still mainly in labor-intensive fields with low added value.
Binh Duong plans to attract high-tech investment in the coming time and has now focused on many solutions through the “smart city” project, in which the formation of a mechanical supporting industrial park makes sense. important to help the domestic business community grow, deeply participate in the global production chain.
Mr. Do Minh Tam – General Director of THACO Industries Corporation of Mechanics and Supporting Industries – said that Binh Duong in particular and the southern key economic region in general have many strengths to build supporting industrial parks. as long production development process with large business community; has the advantages of infrastructure, land fund as well as the companionship and support of the government.
The mechanical engineering industrial park in Binh Duong is not only encapsulated in the automotive industry – THACO’s main field, but also expands to many other supporting industries. The mechanical industrial park also “opens the door” for partners, especially small and medium-sized enterprises to promote cooperation and mutual support, creating spread and mutual development for the business community.
Binh Duong is currently one of the bright spots in attracting domestic and foreign investment.
In the first 10 months of 2022, Binh Duong has attracted more than $2.7 billion in foreign direct investment, up 57% over the same period, ranking second in the country after Ho Chi Minh City. HCM. In 8 months of 2022, domestic investment capital in Binh Duong reached 62,359 billion VND (equivalent to nearly 3 billion USD), the first time higher than attracting foreign investment FDI (8 months reached more than 2.5 billion USD). USD).
After 25 years of establishment and development, the economic scale of Binh Duong province by the end of 2021 reached VND 408,861 billion, 104.3 times higher than in 1997, ranking third in the country after Ho Chi Minh City. In Ho Chi Minh City and Hanoi, in which, agriculture increased 14.2 times, services increased 112.2 times, and especially industry increased 140.6 times.
The province ranks first in the country in terms of per capita income, second in the country in terms of attracting foreign investment (FDI) after Ho Chi Minh City. Ho Chi Minh City, ranked third in terms of total domestic revenue and in terms of the rate of deduction to the central budget (64%), this indicator is also second only to Ho Chi Minh City. Ho Chi Minh City and Hanoi…
This achievement has made Binh Duong one of the first localities to achieve a high average income, with a per capita GRDP of $7,000/person/year.
That development process has helped Binh Duong initially accumulate a relatively synchronous urban and traffic technical infrastructure, which is reflected in the early completion of the main segments of the Ring Road 3 and a highway. Some sections of the Ring 4 pass through the province, directly connecting to the main intra-provincial roads such as My Phuoc – Tan Van – Bau Bang connecting towards seaports and international airports./.