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The following article will provide readers insight about different industrial zones in Binh Duong, the province’s favorable geographic conditions and the location of different BW projects in this industrial hotspot.
Binh Duong is now known as an industrial zone hotspot in Vietnam due to the Government’s significant infastructure investment in the province and development of 29 industrial parks with approximately 12,800 hectares of total area. According to the Department of Planning and Investment, 63 countries and territories have invested in Binh Duong to date. More and more transnational corporations and companies with financial and technological capabilities from Japan, Korea, Taiwan (China), Singapore, Hong Kong (China) and the USA are setting up in Binh Duong.
Binh Duong has a favorable location due to its proximity to the Binh Duong IP Cluster, Tan Son Nhat International Airport, Ho Chi Minh City and Cat Lai Port, making it a convenient locale for both export and import.
The My Phuoc Tan Van Expressway and National Road 13 connect Binh Duong to Ho Chi Minh City in as little as 50 minutes. This infrastructure development demonstrates the provincial leadership’s absolute commitment to meeting investor expectations.
With a wide array of amenities such as an administrative center, international hospital and a variety of residential areas from social housing to premium apartments and villas, Binh Duong is an ideal place to live and work.
Between 2017 and 2019, FDI into Binh Duong increased nearly USD615mn USD. This growth was a direct result of the array of attractive incentives offered to foreign investors by the Government and the majority of IPs in Binh Duong. Notable incentives include a 20% tax exemption over the initial two years of investment and a 50% reduction for the following four years.
Binh Duong’s workforce is young, dynamic and large with no sign of abating. Due to this vibrant population, the country is a leader in education investment, helping to create a vigorous labor force in Binh Duong that is skillful, adaptable, intelligent and warm-hearted.
Located in the north of Binh Duong, Bau Bang District has emerged as a new industrial hub. Many big industry clusters have sprung up in the last few years, namely Bau Bang (997.74 hectares), Cay Truong (700 hectares) and Lai Hung (600 hectares). Altogether, these clusters form industrial park complexes with facilities and utilities that suit both local and expat workers.
Meanwhile, Ben Cat District has eight industrial zones — four of which are the biggest hi-tech industrial zones and export processing zones in Binh Duong: My Phuoc 3 (approximately 700 hectares), My Phuoc 2 (approximately 800 hectares), My Phuoc 1 (approximately 500 hectares) and VSIP (1700 hectares). These areas are surrounded by six and eight-lane roads with shade trees that are reminiscent of Singapore. Notably, My Phuoc 3 has plenty of nearby facilities such as the Dai Nam Amusement Park, Twin Doves Golf Course, Becamex Hotel, EcoLakes My Phuoc, Eastern International University and Singapore International University.
In Binh Duong, BW has three large-scale projects in the My Phuoc Industrial Park (24 hectares), the Bau Bang Industrial Park (43.7 hectares) and the BW Supply Chain City, which is a complex project of 75 hectares that includes both operating ready-built factories, offices, and greenfield area where the company plans to develop an O2O (online-to-offline) showroom and bonded warehouse for import/export purposes.
Owning 26 projects with a total investment value of approximately USD1.4bn in 20 strategic locations throughout Vietnam, BW will continue to increase its land bank by three to five times in the next four years in order to fully exploit the potential of the manufacturing, e-commerce and logistics industries in Vietnam. In addition to being in well-located IPs with good facilities and amenities, BW’s ready-built factories and warehouses are well-landscaped with trees and green areas and have an abundance of fresh air and natural lighting inside the facilities.
To know more about the incentives for foreign manufacturers in Vietnam and to receive free support from BW, please contact our hotline at (+84) 28 710 29 000 or email us at [email protected]