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Thursday, September 29, 2022

Binh Duong to break ground on two major industrial parks

The Saigon Times

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HCMC – The southern province of Binh Duong will begin work on two large-scale industrial parks this year, said provincial chairman Vo Van Minh.

These include the Vietnam-Singapore 3 Industrial Park (VSIP3) and the Cay Truong Industrial Park, with each covering an area of 1,000 hectares. The VSIP3 project is scheduled to get off the ground in late March, reported the Vietnam News Agency.

With the development of these two facilities, Binh Duong will have 30 industrial parks with a total area of 14,000 hectares. Among them, 28 parks have been put into operation, attracting 4,000 firms at home and abroad to set up their businesses at the parks and offering jobs to over one million laborers.

According to the Binh Duong Industrial Zones Authority, the inflow of foreign investment into industrial parks in the province is forecast to remain strong. In the first two months of the year, investors from 13 countries and regions had injected capital into projects in the province.

Currently, Binh Duong ranks second nationwide in foreign investment attraction, just behind HCMC. The province has recorded a total pledged capital of US$37.7 billion, accounting for some 9.1% of the country’s total.

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