THACO Group to invest over $1 billion in Binh Duong industrial park

Binh Duong People's Council approved the master plan for Bac Tan Uyen 1 Industrial Park (IP) at a meeting on April 11. THACO's VND 26 trillion (over $1 billion) development will specialise in mechanical manufacturing.

The IP will span the Binh My and Tan Lap communes, Bac Tan Uyen district, and Hoi Nghia ward, Tan Uyen city.

Once completed and put into operation, the park is expected to generate 32,000 jobs, making a significant contribution to the local economy.

The park is designed to optimise supply chains through local sourcing, lower logistics costs, and guaranteed material availability. In addition, the venture is expected to improve collaboration opportunities for businesses, especially small and medium-sized enterprises.

While largely catering to the automotive industry, the IP will also serve various other industries.

At the meeting, Binh Duong People's Council also approved other important resolutions, such as the mobilisation of resources for the implementation of Urban Railway Line No.1 from Binh Duong New City to Suoi Tien, Ho Chi Minh City, and a road along the Saigon River from National Highway No.13 (near Vinh Binh Canal) to Vinh Phu 40 street.

The province has also approved the task of general planning for the new Tan Lap and Binh My urban areas in Bac Tan Uyen district until 2040.

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