What’s So Special About the Eagle’s Nest?

Be Proactive: Embrace a Forward-Thinking Approach to Industrial Development

Binh Thuan, an emerging market, is experiencing a boom in industrial development. Mr. Phan Duong Cuong, Head of Binh Thuan Industrial Zones Management Authority, attributes this success to a pivotal shift in mindset. The province has moved away from a passive “wait-and-see” approach, instead adopting a proactive strategy that involves actively seeking out businesses to support and serve.

In the past, Binh Thuan would passively wait for businesses to schedule appointments before organizing meetings to introduce available land funds and investment procedures. Now, the province’s leaders are taking the initiative by inviting businesses to visit and explore the region firsthand.

The Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee, and Chairman of the Provincial People’s Council of Binh Thuan frequently meet with businesses to introduce investment opportunities and address any concerns. The Management Authority of Binh Thuan Industrial Zones is also actively resolving procedural and investment disputes to facilitate a smooth investment process.

Mr. Cuong’s proactive approach is exemplified by his intervention in a dispute between two enterprises over the sale of an industrial zone in the province. He invited the disputing parties for afternoon tea, acting as a mediator to harmonize their interests. Thanks to these efforts, the conflict has been resolved, and multiple secondary investors have commenced construction on their factories.

“Binh Thuan boasts an abundant workforce ready to meet the recruitment needs of investors in the industrial zones,” asserts Mr. Cuong. “We are committed to creating the most favorable conditions and warmly welcoming all domestic and foreign investors to cooperate in developing the province’s strengths in industry, agriculture, and fisheries.”

Binh Duong province, located in Southern Vietnam, has also achieved remarkable success in attracting high-quality investment projects and staying ahead of the curve in attracting new-generation foreign direct investment (FDI). During the 2019-2024 period, Binh Duong attracted a total FDI of over $14.3 billion, with new registered capital accounting for $6.8 billion (47.7% of the total). FDI has become the main driver of the province’s comprehensive and sustainable development.

However, Binh Duong is not resting on its laurels. The province is constantly seeking new directions and innovations to attract businesses. To reinforce its “brand” in FDI attraction, Binh Duong has made significant shifts in the sectoral structure and origin of investment partners. Since 2021, the province has strongly prioritized attracting projects in high technology, supporting industries, and logistics.

Currently, Binh Duong is focusing on implementing inter-regional traffic infrastructure projects, planning industrial parks and clusters, redesigning development spaces to attract high-quality investment, promoting digital transformation, green economy, and circular economy in line with the province’s sustainable development goals.

Strong Commitment to a Brighter Future

Mr. Vo Van Minh, Chairman of the Binh Duong People’s Committee, recently shared that the province’s investment attraction policy has shifted towards selectively attracting businesses with high technology and added value, environmentally friendly practices, and a focus on the digital and green economy.

“With a strong commitment to improving the investment environment, enhancing the quality of public services, and always accompanying the business community, Binh Duong will continue to be an attractive destination for domestic and foreign investors,” assured Mr. Minh.

Mr. Nguyen Hoai Anh, Secretary of the Binh Thuan Provincial Party Committee, emphasizes that compared to previous years, Binh Thuan now enjoys far more favorable conditions. Geographically, the province is adjacent to Ba Ria-Vung Tau, Dong Nai, Ho Chi Minh City, and other provinces in the Southern Key Economic Region. It is also in close proximity to the Long Thanh International Airport and the Cai Mep- Thi Vai international transshipment port.

Binh Thuan benefits from excellent transportation infrastructure, including the Dau Giay-Phan Thiet and Phan Thiet-Vinh Hao highways, National Highway 1A, the existing railway, and the upcoming high-speed railway and Phan Thiet airport.

“These transportation and infrastructure advantages are attractive to investors and crucial for local development,” said Mr. Hoai Anh. “Binh Thuan is also considering adding a chain of industrial parks and clusters in Duc Linh, Thanh Linh, and Ham Tan districts to its planning.”

The Secretary of the Provincial Party Committee added that in the development process, Binh Thuan is committed to accompanying, supporting, and creating favorable conditions for businesses to implement investment projects according to regulations. With its vast potential and advantages, Binh Thuan is poised to accelerate and promote investment attraction in industry, trade, and services.

Currently, Binh Thuan is updating and incorporating specific projects and works into the Master Plan for Binh Thuan Province for the period of 2021-2030, with a vision to 2050. The province is also planning additional industrial and cluster parks, along with infrastructure and welfare projects to serve workers.