Binh Duong entices major investments in early 2025

Building on its economic momentum, Binh Duong has continued to strengthen its position as a premier investment destination.

Photo: baodautu.vn

On January 2, Binh Duong People’s Committee approved 20 domestic projects and granted investment registration certificates for three projects, collectively valued at $1.7 billion.

These projects predominantly focus on the real estate and energy sectors.

In real estate, 16 projects received approval, with investment levels ranging from $41.6 million to $158.3 million.

Key examples include the Quang Phuc 4 residential area by QP Township JSC, worth $158.3 million, and the Binh My residential area by Bac Binh Duong Real Estate JSC, at $154.1 million.

Additionally, significant infrastructure projects include the Ben Cat 2 220kV transformer station and its accompanying transmission lines, with an investment of over $45.8 million, and the expanded Rach Bap industrial park infrastructure project, valued at more than $41.6 million.

Three companies received investment registration certificates for projects spanning diverse industries: Vista Investment and Trading Co. Ltd, located in Go Vap district, Ho Chi Minh City with a $10.5 million project; Farina Food Co. Ltd based in Bac Ninh province focusing on bicycle production, with total capital of $7.08 million; Toan Phat Packaging Printing Co. Ltd in Go Vap district, Ho Chi Minh City, producing paper-based packaging, with an investment of $6.2 million.

These developments underscore Binh Duong's appeal as a hotspot for domestic investment.

Dang Hong An, chairman of the board at A&T Thuan An Urban Development Consulting JSC, praised Binh Duong for its strategic infrastructure investments and business-friendly environment.

“The province's focus on bolstering connectivity with neighbouring regions, coupled with transparent and supportive policies, has created an ideal setting for investment,” An said.

These advantages, he emphasised, not only attract leading corporations but also serve as a catalyst to drive the province’s economic growth.

Binh Duong’s reputation as a strategic investment hub has also drawn global attention. During December 2024, the provincial leadership engaged with several major international corporations, including Daewoo E&C, Manwah Group, and Tokyu Group, discussing their plans to initiate or expand investments in the region.

On December 27, Yoshii Konosuke, business development director for Japan’s IHI Group, expressed the group's interest in areas such as transportation infrastructure, high-tech industries, and green projects.

Earlier, on December 26, Binh Duong People’s Committee signed an MoU with Daewoo Engineering & Construction Co. Ltd to enhance cooperation in urban development, real estate, and infrastructure projects.

On December 19, Manwah Group (Hong Kong) announced an additional $50 million investment to establish a new factory and expand production capacity, following the success of its initial phase in Binh Duong.

Throughout 2024, major corporations like US equity fund Warburg Pincus LLC and A.P. Moller Maersk (Denmark) proposed notable projects. Warburg Pincus LLC plans to develop a cross-border e-commerce centre, while Maersk aims to construct a large-scale logistics hub in the province.

On September 26, Binh Duong People's Committee approved several major projects, highlighting robust industrial development. These included a $120 million project by D.mag Vietnam Precision Technology for aluminium, steel, and metal production, and an additional $400 million investment by Paihong Vietnam to expand its fabric manufacturing operations.

During the same month, Sembcorp Binh Duong Infrastructure Services committed $51.5 million to develop warehouses and factories for lease, while Tektro Technology Vietnam invested $38 million in bicycle accessories manufacturing

Trinh Hoang Tuan Anh, deputy director of Binh Duong Department of Planning and Investment, noted that Binh Duong’s strategic investment policies and transparent business environment have made it a leader in foreign direct investment.

At the end of 2024, the province overtook Hanoi to become Vietnam’s second-largest FDI recipient, with a cumulative total exceeding $42.4 billion.

Binh Duong creates many incentives for large FDI projects Southern Binh Duong province has attracted more than 2 billion USD in foreign direct investment (FDI) in 2024, exceeding the set target, continuing to reinforce its position as one of the country’s best performers in FDI attraction.

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