Attracting more than 3 billion USD of FDI capital, inviting "eagles" to nest
In November 2024, the Lego Group factory in Tan Uyen city, Binh Duong province officially came into operation. This is the second largest registered investment enterprise in Binh Duong with more than 1.3 billion USD. The massive factory was built at lightning speed and went into production after only 2 years of construction, surprising the people of Binh Duong. Currently, the Lego Group is actively recruiting workers to serve production.
The foreign enterprise with the largest investment capital in Binh Duong is Polytex Far Eastern Vietnam Co., Ltd. During its operation, the company continuously registered to increase its investment capital in the factory in Binh Duong. Up to now, the phase 3 expansion project has been licensed to increase the total investment capital to 1.54 billion USD.
The above two enterprises are truly "eagles" nesting in Binh Duong. In addition, thousands of FDI enterprises have come to Binh Duong to build factories for production and business. Mr. Vo Van Minh - Chairman of Binh Duong Provincial People's Committee - said: In 2024, the province attracted more than 2 billion USD (exceeding the target for 2024). To date, Binh Duong ranks second in the country in attracting FDI capital with 4,378 valid projects, with a total registered investment capital of more than 42.4 billion USD.
Bordering Binh Duong, in recent years, Binh Phuoc has also been known as a bright spot in attracting FDI. In 2023, Binh Phuoc entered the top 10 in attracting FDI. In 2024, there were 105 projects of foreign enterprises registered to invest in Binh Phuoc with a total investment capital of nearly 1.2 billion USD. Notably, Binh Phuoc welcomed an "eagle" to invest with a total registered capital of up to 500 million USD - the factory of Haohua Group (China), which is the project with the largest FDI capital in Binh Phuoc. This enterprise is expected to increase its capital by 280 million USD.
Active government, building favorable investment environment
According to Ms. Tran Tue Hien - Chairman of Binh Phuoc Provincial People's Committee, in order to attract foreign investment capital with such a breakthrough, in recent years the province has proactively invested in industrial infrastructure, preparing clean land to welcome investors. In addition, provincial leaders and industrial real estate developers have participated in meetings, inviting foreign enterprises to invest and do business in Binh Phuoc.
Notably, Binh Phuoc province has generously offered a series of incentives such as incentives on land rent, land use fees, corporate income tax exemption, import and export tax incentives, etc.
Meanwhile, to become a locality that is always in the top of the country in attracting foreign investment, Binh Duong has made constant efforts with new and drastic ways in economic management, improving the investment and business environment in the right direction, which has been recognized and highly appreciated by the investor and business community.
According to Mr. Vo Van Minh - Chairman of Binh Duong Provincial People's Committee, to attract investment, Binh Duong provincial leaders have proactively traveled to other countries to contact and promote the investment environment in Binh Duong. The province has also successfully organized many economic forums, inviting hundreds of large enterprises from around the world to attend.
Binh Duong also improved the effectiveness of the steering committee to resolve difficulties and problems for businesses. Binh Duong provincial leaders periodically had meetings with each group of FDI enterprises. Through these meetings, provincial leaders listened to the businesses' sharing and directly directed the removal of difficulties and supported businesses to promote production and business.
Binh Duong province's leaders affirmed that the province will continue to focus on improving the investment environment, maximally simplifying and fully and promptly publicizing and transparently handling administrative procedures and administrative records.
Construction of two expressways is the driving force to attract FDI investment.
Binh Duong and Binh Phuoc are investing more in transport infrastructure connecting with the Southeast region, to facilitate the circulation of goods. On December 14, Binh Phuoc started construction of the 7km Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway project. In the second quarter of 2025, the province will continue to start construction of the 101km Gia Nghia - Chon Thanh expressway. Meanwhile, Mr. Nguyen Van Loi - Secretary of the Binh Duong Provincial Party Committee said that the province will start construction of the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway project, a section through the province about 46km long. When completed, these two expressways will be connected to each other, promoting trade and socio-economic development of the two provinces and the Southeast region.
(Posted on the special edition of Lao Dong Xuan At Ty)
