Bình Dương's modern industrial parks and business support policies have helped attract thousands of domestic and foreign businesses.

The province has more than 4,300 foreign businesses that have invested US$41 billion and 68,573 domestic ones with investments of VNĐ754 trillion (US$33 billion).

Its annual industrial production and exports top tens of billions of dollars.

The Việt Nam - Singapore Industrial Park (VSIP) is one of its most modern industrial parks, and has attracted a number of domestic and foreign businesses who have set up factories there.

Nguyễn Văn Hùng, co-chairman of the VSIP Group, said Becamex, Sembcorp and other partners have boldly implemented unprecedented policies with the goal of effectively developing industry in Bình Dương.

VSIP has been recognised as a model industrial park, not just in Việt Nam but also in the region he said.

In the past two decades VSIP has transformed from a traditional industrial park into an urban-industrial complex, bringing new urban solutions and sustainable infrastructure and attracting many investors, he said.

It has 630 tenants from 30 countries, and attracted FDI of more than $9 billion, achieved cumulative exports of $32 billion and created 174,000 jobs, he added.

Since the first park was built in Bình Dương in 1996, 10 more VSIPs have sprung up across the country.

Eliseo Barcas, managing director and president of Tetra Pak Việt Nam in VSIP No.2A in Bình Dương, said his company is always ready to welcome local businesses into its supply chain as long as they comply with environmental protection and sustainability norms.

It supports local businesses in building capacity to recycle paper cartons as part of its global low-carbon and circular economy strategy, he said.

Nguyễn Trọng Luật, general director of Cicor Việt Nam Limited Liability Company, said Vietnamese businesses that want to become partners of foreign enterprises, especially large manufacturing corporations, need to focus on improving production capacity and complying with partners' standards.

Deputy chairman of the Bình Dương People's Committee, Nguyễn Văn Dành, said in the context of increasing international economic integration, building and maintaining a favorable business environment is a key factor to attract investment and promote economic development.

The province has implemented many programmes to help manufacturers and suppliers link up with retailers and import-export businesses, he said.

“Bình Dương always strives to organise international conferences, seminars and trade exhibitions, creating conditions for businesses to meet directly with potential partners. We believe that promoting exchange and cooperation between businesses will help them grasp market trends and new technologies, thereby improving product and service quality.

“The provincial government also has many preferential policies to help businesses."

It always encourages local enterprises to meet international standards and supports them in participating in global supply chains, he added. — VNS