Thanks to effective investment attraction policies, Bau Bang district is increasingly attracting many large foreign investment projects. The district is proactively and creatively implementing many synchronous solutions to continue attracting large investors, including actively building synchronous infrastructure, focusing on transport, urban and industrial infrastructure.
Connecting traffic infrastructure and completed industrial park infrastructure have helped Bau Bang district attract investment more and more effectively.
Make good use of the opportunity
The province's policy of shifting industrial development to the North with industrial parks (IPs) as a lever has been effective, helping localities develop industry very quickly. For Bau Bang district, thanks to this policy, in recent years, the district has invested in upgrading its traffic and urban infrastructure system strongly with many completed ring road and radial axis projects, gradually turning Bau Bang district into an industrial center in the North of the province.
Mr. Vo Thanh Giau, Chairman of Bau Bang District People's Committee, said that after a difficult period due to the Covid-19 pandemic, Bau Bang District is now focusing all resources on economic recovery and development. In particular, the district continues to reform administrative procedures, remove difficulties for enterprises, create the best conditions for enterprises in the area to develop production, export and sustainable business; focus on solving planning and land procedures, completing infrastructure, attracting investors to the district's industrial parks.
Starting from the existing Bau Bang Urban Industrial Park of 1,000 hectares, Bau Bang district has been developing the expanded Bau Bang Industrial Park of 1,000 hectares (part of the district is 892.2 hectares), Tan Binh Industrial Park of 352.5 hectares (part of the district is 95.18 hectares), Cay Truong Industrial Park (700 hectares), Lai Hung Industrial Park (600 hectares). The total area of additional industrial land is 1,687.38 hectares. The district's traffic system has been invested, upgraded, and gradually expanded to complete in the East-West, North-South direction, connecting regions and areas, creating a synchronous and smooth traffic network, creating favorable conditions for attracting investment for development.
The development of industrial parks has helped Bau Bang district change its economic structure with increasingly strong industrial development. In the first quarter of 2023, Bau Bang district attracted 5 newly registered foreign investment projects; 3 foreign investment projects registered to increase capital. According to the People's Committee of Bau Bang district, up to now, the district has attracted 1,382 projects, of which domestic investment is 1,156 projects with a total registered capital of 32,136 billion VND, foreign investment is 226 projects with a total registered capital of nearly 4.5 billion USD.
Create maximum conditions for investors
FDI capital is currently mainly invested in Bau Bang Industrial Park, including many large-scale projects such as: KyungBang Vietnam Co., Ltd.; Lacouer Craft Vietnam Furniture Co., Ltd.; Kolon Group; Polytex Far Eastern Co., Ltd. (Vietnam), BW Bau Bang Industrial Development Project; Giant Manufacturing Vietnam Co., Ltd.... Most of the projects in the district are invested in the fields of processing, manufacturing, and high-tech industries. These projects have been and are opening up many opportunities to contribute to increasing the production capacity of the processing, manufacturing, and high-tech industries. At the same time, gradually forming a synchronous production chain with high added value, thereby contributing to economic growth, budget revenue, and job creation for local workers.
Responding to the need to learn and rent land of investors in the district's industrial parks, Bau Bang is implementing many solutions to mobilize all investment resources for development to quickly improve the infrastructure system. The immediate focus is on investing in the field of infrastructure system development, building a connected, synchronous traffic network; upgrading, expanding and building new key traffic routes. Attracting and calling for investment in developing high-tech industries, logistics services industry, prioritizing the development of inland port transport infrastructure (ICD) as a spearhead to create a driving force for development. The district is focusing on implementing compensation and site clearance for projects: Bac Tan Uyen - Phu Giao - Bau Bang district power generation road, Bau Bang Industrial Park expansion of 1,000 hectares (of which the part in Bau Bang district is 892.2 hectares), Cay Truong Industrial Park, construction of new DH618 road and power projects...
Mr. Vo Thanh Giau added that Bau Bang is making efforts to maximize the role of industrial parks to create momentum for economic development. Mobilizing all resources to accelerate the construction of synchronous and modern traffic and urban infrastructure to attract investment to the district more and more effectively. To continue to attract investment in the coming time, the locality will continue to pay attention to support, create the most favorable conditions in terms of infrastructure, human resources, stable and transparent environment, and at the same time form a clean land fund for investors to implement projects. Thereby, striving to build Bau Bang district into one of the localities with strong industrial and urban development in the province.
In 2023, Bau Bang district aims to increase the growth rate of industrial production value by 18 - 20%; total retail sales and consumer service revenue by 22 - 24%; create new jobs for 4,000 - 5,000 workers. To successfully achieve the goal of striving to soon become the northern industrial - urban center of the province, attracting large investors, Bau Bang district is actively building synchronous infrastructure, focusing on traffic, urban and industrial infrastructure.
NGOC THANH
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