The Richest Province and the City with the Most Cities in Vietnam Plans to Invest VND 59,500 Billion in an Unprecedented Mega Project

Investing 59.5 Trillion VND in a Railway Connecting 5 Cities

On August 13, the Management Board of Binh Duong Transportation Infrastructure announced the proposed construction of a railway line from Bau Bang to An Binh Station in Binh Duong Province.

The 53.63-km double-track railway will connect five cities in Binh Duong: Di An, Thuan An, Thu Dau Mot, Tan Uyen, and Ben Cat, as well as Bau Bang district. The total investment for this project is estimated at 59.56 trillion VND, including land clearance, construction, equipment, and other costs.

The railway will have ten stations and is expected to boost the province’s comprehensive development and that of the neighboring areas.

Binh Duong is already one of the leading industrial provinces in Vietnam, and this railway will enhance the transportation of raw materials, products, and goods from industrial parks to seaports and riverside ports or other provinces. This will reduce logistics costs and increase the competitiveness of local businesses.

The railway will also facilitate the development of new urban areas along its route, attracting more residents and investors to Binh Duong, creating job opportunities, and improving the local population’s living standards.

Additionally, using railways to transport goods and passengers helps reduce environmental pollution compared to road transport. This contributes to protecting the environment and supports Binh Duong’s sustainable development goals.

This railway project is significant not only for Binh Duong but also for the entire Southeast region, fostering economic cooperation between provinces and contributing to balanced and sustainable development.

Binh Duong Set to Become a Centrally-Controlled Municipality

On August 3, 2024, the Prime Minister issued Decision 790/QD-TTg, approving the master plan for Binh Duong Province for the period of 2021-2030, with a vision towards 2050. According to the general development goal set for 2030, Binh Duong aims to become a centrally-controlled municipality and one of the most dynamic and comprehensive development centers in Southeast Asia.

Binh Duong is already one of the richest provinces in Vietnam, with the highest per capita income in the country, according to the General Statistics Office of Vietnam’s survey on living standards in 2023.

In the first half of 2024, the total retail sales of goods and services were estimated at 166.18 trillion VND, a 13% increase compared to the same period last year. Tax revenue reached an estimate of 35.165 trillion VND, equivalent to 49% of the provincial People’s Council’s estimate and 54% of the Prime Minister’s estimate, a rise of 11% from last year.

Industrial production doubled compared to the same period in 2023. Import and export activities maintained a steady growth rate, with export turnover reaching 16.7 billion USD, a 13% increase from last year.

The province’s GRDP growth rate was 6.19%, ranking 5th in the Southeast region and 34th in the country. Binh Duong also ranked 9th in FDI attraction nationwide.

With the upcoming An Binh-Bau Bang railway, Binh Duong’s five supercities will be connected: Di An, Thuan An, Thu Dau Mot, Tan Uyen, and Ben Cat.