According to the Binh Duong Province Planning and Investment Department, in the first six months of 2024, the province attracted over $825 million in foreign direct investment (FDI). This includes 96 new projects with a total investment of nearly $465 million; 66 projects with increased capital of $265 million; and 62 registered projects for capital contribution and share purchase worth more than $95 million.
The Pandora factory, with an investment of $150 million, is located in the VSIP III- Binh Duong Industrial Park. It is built to LEED Gold green building standards, a globally recognized certification for sustainable construction, and utilizes 100% renewable energy.
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Investors from over 20 countries and territories have a presence in Binh Duong, with Singapore leading the way with nearly $309 million, accounting for over 37% of the total registered capital. This is followed by Samoa with almost $163 million (nearly 20%) and China in third place with close to $100 million (12%).
Binh Duong remains the third most attractive province in Vietnam for FDI, after Ho Chi Minh City and Hanoi. The province currently has 4,322 valid projects with a total registered investment of over $41 billion, accounting for 10.6% of all projects and 8.5% of the country’s total FDI attraction.
As Binh Duong enters a new phase, embracing the Fourth Industrial Revolution and building a smart city, an innovative region, and a new industrial ecosystem, the province is prioritizing selective investment attraction in high-tech, labor-light industries. In parallel, it is focusing on implementing various strategies to attract high-quality FDI capital.
Notably, the People’s Committee of Binh Duong Province is coordinating with departments, sectors, and the Becamex IDC Corporation to urgently implement a concentrated information technology park project.
Spanning 220 hectares, this park will house a system of modern science and technology parks and information technology parks that meet international standards, attracting both domestic and foreign investment. Priority sectors for investment in the information technology park include software development and applications, information technology and telecommunications services, research and development (R&D), and training and development of information technology human resources, along with green industries.
Additionally, the VSIP III and Cay Truong industrial parks are envisioned as third-generation industrial parks, embracing green and sustainable development. They feature innovative designs that integrate energy, water, waste management, transportation, and security in a holistic manner.
Notably, the VSIP III, which broke ground in March 2022, has already attracted eight projects with a total investment of over $1.6 billion. This includes a project by the Lego Group worth more than $1.3 billion and a $150 million jewelry manufacturing plant by Pandora.
Thanh Thao
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