The southern province of Binh Duong has acted as a magnet for bothVietnamese and foreign investors, helping drive future growth. Featureby the Vietnam Investment Review.
* New administration hub
The local authorities inaugurated a new integrated administrationcentre in Binh Duong New City on February 20, marking a milestone in theprovince’s development and providing fresh opportunities for investors.
Located in the Binh Duong New City project, the new hub includes 20-storey twin towers and a helipad.
Work on the centre started in November 2010 and the towers now house the province’s Party, Government and public agencies.
The new Becamex IDC-constructed centre cost more than 1.4 trillionVND (67.54 million USD), and was designed by Singapore’s infrastructuredevelopment and management services provider CPG, with French groupApave as project supervisor and manager.
* For stronger future growth
Deputy Chairman of the Binh Duong provincial People’s Committee TranVan Nam said the new administration hub was a symbol of the province’sdevelopment, and marked the efforts of the local authorities to providefast, transparent and modern administration.
Only an hour’sdrive from Ho Chi Minh City, the Binh Duong New City project is home tothe hub and will be the focus for a central government-managed BinhDuong City by 2020. Set for completion by that year, the project willhouse 125,000 residents and provide work for 400,000 people.
Part of the new city is the 1,000-hectare Tokyu Binh Duong Garden City,which is being developed with an investment of 1.2 billion USD byBecamex Tokyu, a 35-65 percent joint venture between Becamex IDC andJapanese town developer Tokyu Corp.
“By 2020, the Binh DuongNew City project will become Binh Duong City’s core district to furtherfoster the whole province’s sustainable development,” Nam said, addingthat the province was working on plans to build a railway line withfunding from the Japanese government to link the new city with Ho ChiMinh City’s first metro rail route Ben Thanh-Suoi Tien, which iscurrently under construction.
Also on February 20, localauthorities introduced a raft of key projects for this year, includingdeveloping an express bus service to connect the new city withneighbouring areas in the province and Ho Chi Minh City.
Anotherproject is Sora Gardens, which will consist of a residential, serviceand shopping complex in the Tokyu Binh Duong Garden township includingthree quarters - Gate City, Core City and Gardens City. The conceptdesign architect is Tokyu Architects and Engineers Inc., the architectis Australian firm PTW, and France’s Apave is the tender consultant.Sora Gardens would include up to eight tower blocks with 1,500residences, together with commercial facilities.
Otherprojects include a new Binh Duong Television centre, construction of theBinh Duong Development Fund Office, opening of Japanese retailer Aeon’s62,000-square metre shopping mall and building new major roadsincluding a road linking Binh Duong New City with Thu Dau Mot City,construction of Tan Van Logistic Centre and Port Complex, finishing AnSon Port Services Complex, and building a 1,500-bed general hospital.Aeon is due to open the 95-million-USD Binh Duong Canary mall in October2014 and will be its second shopping centre in Vietnam after AeonCeladon Tan Phu in Ho Chi Minh City.
A major project is toturn Ben Cat district into Ben Cat municipality and Bau Bang district,to transform Tan Uyen district into Tan Uyen municipality and North TanUyen district. The project also includes construction of the 300-hectareBau Bang Industrial Park (IP) for garment and textile companies, andsupport industries.
* Industrial force
Nam said the BauBang IP was tasked with finding new opportunities as Vietnam preparedto sign the Trans-Pacific Partnership Agreement. In its developmentstrategy, the province has attached great importance to industrialdevelopment, and from being an agricultural province 15 years ago, BinhDuong has transformed itself into an industrial force.
Aspart of efforts to lure more investors, Binh Duong has completedinfrastructure in 26 of the province’s 28 IPs, developed human resourcesand enhanced its service quality by simplifying administrativeprocedures and promoting transparency, said Mai Hung Dung, director ofthe Binh Duong Provincial Department of Planning and Investment. Thelocal IPs include popular Vietnam-Singapore Industrial Parks I and II,Dong An, and Song Than.
The province recorded its GDP growthof 12.8 percent last year and is targeting 13 percent growth for 2014.It is predicted the industry sector to grow 16 percent, trade andservices 20 percent, and agriculture 4 percent this year, up on lastyear’s results of 8.7 percent, 19.6 percent and 1.8 percent,respectively.
Binh Duong’s efforts to attract foreign directinvestment (FDI) have been rewarded, with the province having this yearalready attracted 715.7 million USD in FDI, equal to almost threequarters of its 1 billion USD year target by February 20, said Dung.Among the new inflows, 189.8 million USD was from 20 newly licensedprojects, and 525.9 million USD was added to 19 already operationalprojects.
He added the performance showed investors hadfaith in Binh Duong’s investment environment and that the province waseager to support investors as part of its efforts to continually improveits business climate.-VNA
* New administration hub
The local authorities inaugurated a new integrated administrationcentre in Binh Duong New City on February 20, marking a milestone in theprovince’s development and providing fresh opportunities for investors.
Located in the Binh Duong New City project, the new hub includes 20-storey twin towers and a helipad.
Work on the centre started in November 2010 and the towers now house the province’s Party, Government and public agencies.
The new Becamex IDC-constructed centre cost more than 1.4 trillionVND (67.54 million USD), and was designed by Singapore’s infrastructuredevelopment and management services provider CPG, with French groupApave as project supervisor and manager.
* For stronger future growth
Deputy Chairman of the Binh Duong provincial People’s Committee TranVan Nam said the new administration hub was a symbol of the province’sdevelopment, and marked the efforts of the local authorities to providefast, transparent and modern administration.
Only an hour’sdrive from Ho Chi Minh City, the Binh Duong New City project is home tothe hub and will be the focus for a central government-managed BinhDuong City by 2020. Set for completion by that year, the project willhouse 125,000 residents and provide work for 400,000 people.
Part of the new city is the 1,000-hectare Tokyu Binh Duong Garden City,which is being developed with an investment of 1.2 billion USD byBecamex Tokyu, a 35-65 percent joint venture between Becamex IDC andJapanese town developer Tokyu Corp.
“By 2020, the Binh DuongNew City project will become Binh Duong City’s core district to furtherfoster the whole province’s sustainable development,” Nam said, addingthat the province was working on plans to build a railway line withfunding from the Japanese government to link the new city with Ho ChiMinh City’s first metro rail route Ben Thanh-Suoi Tien, which iscurrently under construction.
Also on February 20, localauthorities introduced a raft of key projects for this year, includingdeveloping an express bus service to connect the new city withneighbouring areas in the province and Ho Chi Minh City.
Anotherproject is Sora Gardens, which will consist of a residential, serviceand shopping complex in the Tokyu Binh Duong Garden township includingthree quarters - Gate City, Core City and Gardens City. The conceptdesign architect is Tokyu Architects and Engineers Inc., the architectis Australian firm PTW, and France’s Apave is the tender consultant.Sora Gardens would include up to eight tower blocks with 1,500residences, together with commercial facilities.
Otherprojects include a new Binh Duong Television centre, construction of theBinh Duong Development Fund Office, opening of Japanese retailer Aeon’s62,000-square metre shopping mall and building new major roadsincluding a road linking Binh Duong New City with Thu Dau Mot City,construction of Tan Van Logistic Centre and Port Complex, finishing AnSon Port Services Complex, and building a 1,500-bed general hospital.Aeon is due to open the 95-million-USD Binh Duong Canary mall in October2014 and will be its second shopping centre in Vietnam after AeonCeladon Tan Phu in Ho Chi Minh City.
A major project is toturn Ben Cat district into Ben Cat municipality and Bau Bang district,to transform Tan Uyen district into Tan Uyen municipality and North TanUyen district. The project also includes construction of the 300-hectareBau Bang Industrial Park (IP) for garment and textile companies, andsupport industries.
* Industrial force
Nam said the BauBang IP was tasked with finding new opportunities as Vietnam preparedto sign the Trans-Pacific Partnership Agreement. In its developmentstrategy, the province has attached great importance to industrialdevelopment, and from being an agricultural province 15 years ago, BinhDuong has transformed itself into an industrial force.
Aspart of efforts to lure more investors, Binh Duong has completedinfrastructure in 26 of the province’s 28 IPs, developed human resourcesand enhanced its service quality by simplifying administrativeprocedures and promoting transparency, said Mai Hung Dung, director ofthe Binh Duong Provincial Department of Planning and Investment. Thelocal IPs include popular Vietnam-Singapore Industrial Parks I and II,Dong An, and Song Than.
The province recorded its GDP growthof 12.8 percent last year and is targeting 13 percent growth for 2014.It is predicted the industry sector to grow 16 percent, trade andservices 20 percent, and agriculture 4 percent this year, up on lastyear’s results of 8.7 percent, 19.6 percent and 1.8 percent,respectively.
Binh Duong’s efforts to attract foreign directinvestment (FDI) have been rewarded, with the province having this yearalready attracted 715.7 million USD in FDI, equal to almost threequarters of its 1 billion USD year target by February 20, said Dung.Among the new inflows, 189.8 million USD was from 20 newly licensedprojects, and 525.9 million USD was added to 19 already operationalprojects.
He added the performance showed investors hadfaith in Binh Duong’s investment environment and that the province waseager to support investors as part of its efforts to continually improveits business climate.-VNA
