Binh Duong Province seeks to upgrade support industries

14:37 | 26/07/2019 Investment

(VEN) - Binh Duong Province has built 29 industrial parks to attract foreign direct investment (FDI), giving priority to support industries, and has become a leading locality in terms of support industry development.

binh duong province seeks to upgrade support industries
There are 2,277 support industry enterprises in Binh Duong Province

Efficient investment

According to the Binh Duong Province Department of Industry and Trade, there are 2,277 support industry enterprises in the province, including 442 textile and garment enterprises, 172 leather and footwear companies, 953 wood processing facilities and 710 mechanical enterprises.

Binh Duong has formed and developed material and accessory industries to cater for the textile/garment, leather and footwear, mechanical, and electrical-electronics industries.

According to the department leadership, the province has built a 1,000ha industrial park to attract support industry investors, especially foreign ones.

The Binh Duong Province People’s Committee has issued a list of socioeconomic infrastructure (including support industry infrastructure) projects needing investment in 2017-2021. The province is developing investment promotion policies, including those for support industry projects.

Targets

Binh Duong has been developing international standard human resources to reach its support industry development targets through cooperation with foreign training facilities.

Tran Thanh Liem, Chairman of the Binh Duong Province People’s Committee said Binh Duong is prioritizing support industry development and facilitating investment attraction, production and trade in this field. The province will pave the way for support industry enterprises to join global value chains and add value to their products, he said. Binh Duong will create conditions for small and medium enterprises to produce support industry products, Liem said.

Binh Duong will build international quality standards, improve support industry product accrediting organizations to international standards, promote technology transfer in support industries, and help enterprises research and develop science and technology.

The province will create favorable conditions for support industry companies to access long-term investment in research and development, giving priority to large enterprises while at the same time encouraging private businesses to invest in support industries with preferential policies on capital, infrastructure, administrative procedures and import and revenue taxes, among others.

Binh Duong Province will continue to prioritize support industry development to increase the local content of products

in 2019 and the following years.

Viet Anh