The Vietnam – Singapore Industrial Park III (VSIP III) will be built on an area of over 1,000 hectares in Binh Duong province. (Photo: baodautu.vn) Chairmanof the provincial People's Committee Vo Van Minh said construction ofVietnam – Singapore Industrial Park III (VSIP III) in Bac Tan Uyen districtwould begin this month.
Whenit opens, the province would prioritise high-tech tenants and labour-intensiveindustries such as apparel and footwear, he said.
Inthe second quarter, work would begin on the Cay Truong Industrial Park in Bau Bangdistrict, he added.
BinhDuong also plans to expand Nam Tan Uyen and Rach Bap industrial parks alongwith a number of others to meet the increasing demand from domestic and foreigninvestors.
BinhDuong is one of the fastest growing provinces in the key southern economic zoneand among the hottest investment destinations in the country.
Thesouthern key economic zone, the most vibrant business region in the country, isgrowing at a pace 50 percent faster than the national average.
Justtwo decades ago, Binh Duong was an agricultural area with modestinfrastructure, but is now the third largest FDI destination in the countrybehind only HCM City and Hanoi.
Itis home to more than 3,400 companies from 64 countries and territories andtrades with 200 nations.
Inthe first two months of this year, the province's economy prospered, with theindustrial index increasing by 6.1 per cent, exports increasing by 8.7 percentwith a trade surplus of 2 billion USD and budget revenues reaching 20 percentof the year’s target.
Thisyear, Binh Duong expects economic growth of 8 – 8.3 percent and industrialproduction to rise by 8.9 percent. FDI flows are expected to exceed 1.8 billionUSD./.
VNA
