Binh Duong ranks second in the country in terms of FDI attraction

Feb 11, 2023

On February 10, the Management Board of Industrial Parks of Binh Duong Province said that the third factory of Rheem Vietnam Company (FDI capital from Australia) has just been put into operation at Dong An Industrial Park 2, Thua Thien Hue city. Oil One.

This is one of the typical foreign investment (FDI) projects that has just been disbursed at the beginning of 2023, marking Binh Duong's rise to the second position in the country (only after Ho Chi Minh City, surpassing Hanoi and Dong Nai). ...) on attracting FDI.

After being expanded, Rheem Vietnam's factory in Binh Duong has a total investment of more than 46 million USD (equivalent to over 1,000 billion VND, at the current exchange rate).

The factory is deployed on a land fund of more than 6 hectares, providing jobs for about 300 workers. Every year, the factory produces hundreds of thousands of water heaters, solar collectors and other accessories, and exports account for 99%.

Mr. Matthew Chessum - General Director of Rheem Vietnam - said that Rheem has been established for nearly 100 years and has been present in Vietnam for 10 years (since early 2013). After the investment process in Binh Duong was evaluated as effective, the company decided to expand the factory to strengthen its presence in Asia and join the global supply chain.

The new factory will not only produce but also contribute more actively to research, development, and implementation of production solutions to reduce carbon emissions and protect the environment.

Binh Duong Department of Planning and Investment said that despite the general difficulties of epidemics, disruption of the global supply chain, etc., the province still has good signs in attracting foreign investment.

For the whole year of 2022, foreign investment in Binh Duong reached more than 3.1 billion USD, including big projects such as Lego Group's 1 billion USD factory (Denmark)...

There are 25 countries and territories investing in Binh Duong, typically Denmark, the Netherlands, Singapore, Korea, Japan, China... FDI factories mainly invest in industrial parks. (accounting for 67% of total investment capital).

To achieve the above results, Binh Duong province has had a process of attracting domestic and foreign investment capital with 30 years of experience. The first thing when investors come to Binh Duong is the methodical infrastructure development. From Ho Chi Minh City to Binh Duong, the first impression is that the transport infrastructure of the province is relatively good.

Recently, Binh Duong province has started construction of a new Vietnam - Singapore industrial park (VSIP) 3 and continues to expand the scale of a number of other industrial parks.

In addition to expanding National Highway 13 to 8 lanes to connect with the Southeast region, actively deploying ring roads 3 and 4 in Ho Chi Minh City, Binh Duong also actively builds many new roads in the province to promote investment. private.

Typically, the North Tan Uyen - Phu Giao - Bau Bang power generation road (to be inaugurated soon), DT746 road (through the gate of VSIP Industrial Park 3)...

In parallel, it is My Phuoc Tan Van street (no toll station) used for container trucks to become the "silk road" of Binh Duong. In addition, the power roads connecting industrial parks, service urban areas and logistics centers are opened more and more, the means of transport move quickly, greatly reducing transportation costs.

The second point about attractive infrastructure for investors is that the infrastructure of industrial parks is fully built and meets domestic and international investment conditions. It can be seen that it is "clean land" that is always ready for large enterprises in the world to build production and business factories.

Another strong point, Binh Duong always promotes the administrative reform process to create the most favorable conditions for foreign enterprises to carry out legal procedures for business investment. The fast digital transformation process also makes it easier for businesses to operate in Binh Duong.

Although always in the top, Binh Duong has not used it again. In recent years, provincial leaders have always been proactive and directly present in promotion activities to call for foreign investment. The commitment to always accompany and create the most favorable conditions of the provincial leaders has become a belief for FDI enterprises.

According to Mr. Vo Van Minh - Chairman of Binh Duong Provincial People's Committee, the province is attracting investment in the fields of high-tech industries, financial services, logistics, supporting industries, and high-tech agriculture. Binh Duong province continues to invite foreign agencies and businesses to continue to come to Binh Duong to explore investment opportunities.