Bau Bang District of Binh Duong Province draws investment in high-tech sector

SGGP
Bau Bang District of Binh Duong Province has just been established for more than seven years but has attracted several domestic and foreign enterprises to invest in industrial zones, including enterprises with registered capital of more than US$1 billion to the Science and Technology Industrial Park, contributing to creating great added value for the economy of the province.

Bau Bang Industrial Park currently makes a great contribution to the local socio-economic development. (Photo: SGGP)

Bau Bang Industrial Park currently makes a great contribution to the local socio-economic development. (Photo: SGGP)

The highlight of the high-tech industrial zone

The Science and Technology Industrial Park in Bau Bang will be an extension of the central region from Thu Dau Mot City and Binh Duong New City in attracting multinational corporations. Binh Duong Province reserves the Lai Hung Industrial Park with an area of 600 hectares to draw investments of science and technology enterprises, promote research and technology transfer centers, and attract knowledgeable and skilled workers.

Up to now, Bau Bang District has attracted several well-known foreign investors, such as Polytex Far Eastern Vietnam Company invested in a production conjugate of fiber, weaving, and dyeing with a capital of more than $274 million; KyungBang Vietnam Co., Ltd. invested more than $179 million to produce fibers and fabrics; Lacquer Craft Vietnam Furniture Co., Ltd. invested more than $98 million in the production of furniture, interior design products, and sofas; Kolon Group invested $140 million (phase 1) to produce polyester tire cord.

By the end of last year, the district had attracted 1,000 industrial development projects, including 816 domestic investment projects with total registered capital of more than VND29.73 trillion and 184 foreign direct investment (FDI) projects with total investment capital of up to $3.6 billion. In 2020 alone, it lured 27 FDI projects, with total registered capital of more than $178 million and an additional $85 million into 20 existing projects. Thanks to the continuous investment of enterprises in the industrial zones, the district's economy has strongly shifted towards industry, construction, and services, forming bustling urban and commercial areas, contributing significantly to make the industrial production value of the district increase by an average of 21.31 percent annually, and the total retail sales of consumer goods and services increase 25.33 percent on average.

According to Mr. Vo Thanh Giau, Chairman of the People's Committee of Bau Bang District, to develop Bau Bang District to soon become an industrial-urban center in the North of the province, creating a breakthrough, sending the district towards a new height, Binh Duong Province has planned to build a science and technology industrial park in Bau Bang, which is considered a breakthrough in industrial production and the fundamental infrastructure for the establishment of an innovation ecosystem, attracting investment in high added-value fields, creating a foundation for hi-tech production.

Development of transport infrastructure 

In the new socio-economic development plan, Bau Bang District focuses resources on modernizing transport infrastructure. Of which, it focuses on works connecting regions and areas in the province, such as the My Phuoc-Bau Bang arterial road. Other technical infrastructures basically meet the needs and practically serve the socio-economic development goals. Besides, the district focuses on allocating capital for transitional works in the medium-term public investment plan, prioritizing the implementation of key projects, such as the ring road of Bau Bang Industrial Park - DT 749A road, the North Tan Uyen-Phu Giao-Bau Bang road, district administrative center, schools, and routes connecting traffic on Highway 13, and Ben Cat-Bau Bang road.

In the next five-year development plan of Binh Duong Province, Bau Bang District continues to be planned and invested synchronously traffic roads with two to eight lanes, creating favorable conditions for the transportation of goods between regions in the province. Especially, the Bau Bang Urban Area and Industrial Park invested with synchronous and modern transport infrastructure system has created a civilized, modern, and open urban appearance.

Via promoting the development of transport infrastructure, the district sets the task of increasing investment attraction in the fields of banking, supermarkets, and educational establishments and supporting small and medium-sized enterprises to develop towards the smart and environmentally friendly direction.

Bau Bang District currently has three industrial zones, including Bau Bang Industrial Park and Bau Bang expanded industrial zone, with an area of 3,166 hectares invested by Becamex Corporation; Tan Binh Industrial Park with an area of 352.49 hectares has been invested in infrastructure to ready to welcome investors, and is planned to expand by 1,055 hectares more towards Bau Bang District through two communes of Hung Hoa and Tan Hung; Cay Truong Industrial Park with an area of 700 hectares in Cay Truong 2 Commune and Lai Uyen Town.

By Xuan Trung – Translated by Bao Nghi

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