Bac Dong Phu Industrial Park Corporation: Partnering with Businesses for Sustainable Development

The Prime Minister's Decision 227/QD-TTg on adjustments to some land use indicators till 2025 has opened up positive prospects for the expansion of Bac Dong Phu and Nam Dong Phu industrial parks. Expansion projects supported by central and local authorities will make Binh Phuoc a leading light in socioeconomic development and investment attraction. Besides, with its accumulated experience, careful preparation and high determination, the corporation will carry out its projects on schedule.

Attractive destination for investors

Bac Dong Phu Industrial Park Corporation is the investor of two projects, Bac Dong Phu Industrial Park and Nam Dong Phu Industrial Park in Binh Phuoc province. Planned to be built in Dong Phu district with a total area of 258ha, the two industrial parks (IPs) are the bridges between the Southeast region and Central Highlands provinces via National Highway 14 and Provincial Road 741. In addition, Provincial Road 747 that links Song Than Port, Thanh Phuoc Port, Tan Van, Bien Hoa City, Dong Nai province and other areas will create favorable conditions for the distribution of goods as well as exports. Bac Dong Phu Industrial Park is built according to general industrial park criteria, designed for production investment projects that cause little environmental pollution, including light industries, consumer goods production, construction materials, mechanical engineering and other industries invested and constructed on a large scale, with modern, synchronous facilities to ensure conditions for industrial development and sustainable environmental protection.

With many efforts in investment promotion, the technical infrastructure of Bac Dong Phu Industrial Park has been constructed synchronously and comprehensively. The corporation has attracted 102 companies to invest in the construction and operation of Nam Dong Phu and Bac Dong Phu industrial parks. Among them, 40 tenants are foreign invested with more than US$300 million and 62 secondary tenants have a total registered investment capital of more than VND3,000 billion. Despite facing numerous difficulties in 2024, tenants still ensure production orders and workers feel secure in their work.

Although it is almost fully occupied, Bac Dong Phu Industrial Park Corporation still pays special attention to customer care. Every year, the firm checks IP infrastructure, works out plans to maintain and repair damaged areas and coordinates to ensure security for investors.

Pham Phi Dieu, General Director of Bac Dong Phu Industrial Park Corporation, said: In Bac Dong Phu and Nam Dong Phu industrial parks, after investors lease land, what makes investors trust is the companionship and sharing with tenants in any emerging difficulty, making their investments more favorable. The firm has a good relationship with local authorities in addition to their support and attractive policies that contribute significantly to the success of its industrial parks. We always believe that “Investors' difficulties are our own, we work with each other for sustainable development.”

New expectations for expanded Bac Dong Phu and Nam Dong Phu IPs

Indeed, the biggest bottleneck for new IP projects in Binh Phuoc province is the total area of local existing industrial land has almost exceeded the plan stated in Decision 326/QD-TTg of the Prime Minister dated March 9, 2022. According to the Binh Phuoc Master Plan in Decision 1489/QD-TTg of by the Prime Minister dated November 24, 2023, the total area of established IPs is 4,080 ha. However, on March 12, 2024, the Prime Minister issued Decision 227/QD-TTg on revised land use targets to 2025 in Decision 326/QD-TTg. Accordingly, the targeted IP land allocation of Binh Phuoc province was raised to 4,908 ha. Thus, Decision 227/QD-TTg adds 828 ha of industrial park land for new projects in Binh Phuoc province till 2025. Thus, this has opened up positive prospects for the expansion of Bac Dong Phu and Nam Dong Phu industrial parks.

Currently, the occupancy rate of Bac Dong Phu and Nam Dong Phu IPs is nearly 100%. Therefore, their expansion is an urgent and decisive task for the corporation to grow stronger and for Binh Phuoc to keep pace with neighboring provinces with strengths in industrial investment. Additionally, Bac Dong Phu and Nam Dong Phu IPs, with its 15 years of operation experience on the existing area of 258 ha, will ensure enough personnel and experience for expansion.

The expansion will greatly contribute to industrial growth, export growth and economic competitiveness, create a strong spillover effect, improve the material and spiritual life of the people, and boost service development in the province and neighboring areas of these industrial parks. Furthermore, this will help increase local budget revenue, accelerate urbanization, create even development among regions in the province, complete social infrastructure and protect the ecological environment.

Bac Dong Phu Industrial Park Corporation hopes that the Provincial People's Committee will soon sign a decision to allocate land quotas for local industrial zones to enable the corporation to carry out the next steps. The biggest wish now is that the firm will soon get its land quotas to complete procedures and catch the wave of investment inflows to Vietnam.

By Duy Anh (Vietnam Business Forum)