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Binh Duong industrial parks attract USD525 million of FDI capital in the first 5 months of 2024

In the first 5 months of 2024, industrial parks (IPs) in Binh Duong attracted $525 million in foreign direct investment (FDI), an increase of 75% over the same period in 2023. Bringing the total FDI capital in IPs in the area to $29.7 billion.

FDI capital attraction into IPs increases continuously

The Binh Duong Industrial Zones Authority (BDIZA) has just released data showing that in the past 5 months, Binh Duong has granted 58 new projects with a total registered capital of more than $270 million to FDI enterprises, and 210 FDI projects have adjusted their capital to increase by more than $250 million. IPs in the province also have an additional $1,058 billion of domestic investment capital, reaching 96.25% of the 2024 plan.

Cumulative to date, IPs in Binh Duong have attracted over 3,130 projects, of which FDI projects account for nearly 80% with a total registered capital of $29.7 billion. 682 domestic investment projects with nearly VND95,000 billion capital, equivalent to about $3.8 billion.

According to data from the Department of Planning and Investment of Binh Duong province, from the beginning of the year to May 15, newly registered and additional FDI in Binh Duong reached more than $341 million. Of which, the majority of FDI capital is concentrated in the industrial park system, reaching more than $290 million. Accordingly, as of May 2024, Binh Duong has attracted nearly 4,300 FDI projects with a total investment capital of nearly $40.6 billion from 65 countries and territories, ranking 3rd after Ho Chi Minh City and Hanoi.

The industrial parks have leased more than 285,700 m2 of industrial land and more than 64,200 m2 of factories in the first months of this year. To date, the industrial parks have leased 7,067.49 hectares, reaching an occupancy rate of 93.67%.

One of the new-generation IPs that attracted outstanding FDI investment in the area in the first 5 months of the year is Vietnam - Singapore Industrial Park (VSIP 3). This IP is currently attracting many international investors, especially in the high-tech sector. Currently, VSIP 3 has more than 30 international companies interested with a total expected investment capital of up to $1.8 billion. VSIP 3 has a scale of 1,000 hectares and prioritizes 7 main industries: electronics, automobile manufacturing, mechanical engineering, textiles, food, and other industries.

Recently, on May 16, the world's leading jewelry group Pandora also started construction of a $150 million jewelry factory in this IP. Previously, Lego Group (Denmark) also invested more than $1.3 billion in VSIP 3 to produce children's toys.

BDIZA said that in 2024, it plans to attract about 130-140 investment projects to IPs, with a total FDI capital of about $1.2 - $1.3 billion. It will attract VND1,100 - VND1,200 billion of domestic investment capital, and construction investment capital of $5,700 billion. At the same time, it aims to lease and sublease 100-150 hectares of land, attract 15,000 workers, and generate a total revenue of $35 - $40 billion.

By 2030, 10 new industrial parks will be built

Currently, BDIZA is focusing on advising on promoting the establishment and development of about 10 new IPs from 2023 to 2030.

Accordingly, it is expected that by the end of 2025, Binh Duong will establish 2 new IPs, with a total land use area of ​​about 1,000 hectares in Bac Tan Uyen district and Tan Uyen city. Of which, the specialized industrial park for mechanical engineering with an area of ​​about 800 hectares aims to attract mechanical industries in the direction of high technology, automation, and less labor-intensive, and Tan Lap 1 Industrial Park with an area of ​​200 hectares, specializing in wood.

By the end of 2030, it is expected that 8 more IPs will be deployed in Bac Tan Uyen, Dau Tieng, and Phu Giao districts to synchronously develop industry in the district areas of the province with a new planning area of ​​over 6,000 hectares along the belt 4.

According to the latest plan for developing the industrial park system in Binh Duong province, by 2030, the total number of industrial parks in the area will be 43 with a total area of ​​about 18,600 hectares.



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