Binh Duong New City attracts a $1.2 billion foreign investment project

08.03.2012

Two large-scale projects playing an important role in Binh Duong economic and social developed strategy from 2011 toward 2015 continuously were got off the ground in Binh Duong province.

They are MTV Becamex investment and industrial development Co.ltd’s the 220ha social housing project with VND10.830 billion ($523 million)of investment capital and the $1.2 billion Tokyu Binh Duong Garden City, covers a 71ha prime land in the centre of Binh Duong New City project, developed by the alliance between Vietnam’s Becamex IDC and Japan’s Tokyu Corporation.

The ground breaking of the above project contributed to push up the urbanization process of Binh Duong province and the construction process of Binh Duong New City, which is considered as a launching pad promoting Binh Duong province to be the city directly under central government in 2020.

Le Thanh Cung, chairman of Binh Duong people’s committee said “The ground breaking ceremony of Tokyu Binh Duong Garden City marks Binh Duong province’s a big step in attracting foreign investment capital in order to rapidly and sustainably develop the provincial economy and enhance local residents’ living quality.”

“Binh Duong province currently set up plans to strongly develop urban area and high-quality services, especially commercial and service constructions which not only satisfy demand of investors and local residents but also contribute to make Binh Duong become a modern, civilized and eco-friendly city,” said Cung.

City garden

Binh Duong’s breakthroughs

For many years, Binh Duong province’s economic growth rate still is very high in compare with the rate of the nation. Demand of major economic area in general and Binh Duong province in particular is continuously setting more necessary conditions to maintain the rate and rise up service proportion in economic structure in order to ensure its sustainable industrial development.

To meet up the huge demand for travelling and transportation in the near future, traffic projects inside the Binh Duong province and roads linking Binh Duong to other major economic area in the South were soon to be completed by the government and Becamex, said Nguyen Van Hung, chairman of the corporation.

Binh Duong province also is focusing on supporting enterprise working in high-tech and supplementary industry. Besides that labour training is being received a huge attention, quality of labours is clearly enhanced.

On-going construction Binh Duong New City

Developing Becamex’s the 1,000ha Binh Duong New City project plays an important role in synchronously developing Binh Duong urban system and promoting the province to become the city under the central government in 2020.

At this time, the project’s infrastructure was basically completed. The new city is easily connected to major economic areas in the South of Vietnam. Technical infrastructure such electricity, water, and information technology can satisfy all demand of everybody. Parks, sport areas, education developments has been under construction and soon to be gone operation.

Especially, Binh Duong political administrative centre – a symbol of Binh Duong province’s development in the new era will be located in Binh Duong New City. In the area of the political administrative centre, all kind of services and high technology will be attended to help people easily access effective and friendly local administrative institutions.

Becamex B1_View_Rear

Besides large-scale developments, Becamex will cultural centres, exhibition centres, shopping malls, commercial and financial developments, hotels and restaurants will be synchronously developed.

All the above works aim to create the best environment for local residents and enterprises’ necessary demand to serve producing and trading.

Tokyu Binh Duong Garden City 

Becamex and Tokyu are two corporations working in multy-industries especially developing infrastructure and urban area. The cooperation between the corporations in developing a complex in Binh Duong New City is right investment direction, suitable to the province’s orientation.

First project developed by the alliance between Becamex and Tokyu is the $1.2 billion Tokyu Binh Duong Garden City, covers a 71ha land in the centre of Binh Duong New City. After completion, the project will provide 7,500 residential units, entertainment parks, commercial-services and office complexes.

Via the project, the alliance hopes to ease the dearth for accommodation and relax of local residents and also enhance Binh Duong New City’s position.

city garden2

Toshiaki Koshimura, chairman of Tokyu Corporation said “Based on our experience in developing Tokyu Tama Denen City in Japan and capacity to effectively apply Tokyu network, we commit to try our best to develop a city with function and quality matched with Binh Duong’s scale and position as a city directly under central government in 2020.”

“A whole of the project will be cover by Japanese style. It will not only be your accommodation but also be a place you create business environment, display products and access global trades,” said Nguyen Van Hung, chairman of Becamex.

Hung also emphasized that Becamex Tokyu target not only to develop a city having beautiful cityscape and full of comfortable facilities but also to create a healthy living environment inside the city.

The ground breaking of Tokyu Binh Duong attracted attentions of residents, investors and enterprises as it marks a big step in Binh Duong New City’s sustainable development. 

garden city_3

Pong Kok Tian, Singapore consul general in Ho Chi Minh City highly appreciated Binh Duong authorities with efforts to reform administrative formalities to attract foreign investors like Tokyu Corporation and soon complete Binh Duong New City’s infrastructure.

Le Thanh Cung, Binh Duong people’s committee said that Tokyu Binh Duong Garden City played an important role in developing the provincial economy and society, contributed in transferring economic structure and promoted the provincial development next periods.

Becamex Tokyu calls for more projects 

Becamex and Tokyu will continue research to invest satellite-urban areas in the province’s areas have strengths in developing industry in order to make great strides in attracting foreign investment capital as the areas having better infrastructure and services.

Hung also said that the company will research, set up a plan and construct public traffic developments to serve local residents such as bus and metro to narrow the distance between Binh Duong, HCMC and other major economic areas in the South.

Toshiaki Koshomura, chairman of Tokyu Corporation 

In 1964,Japan’s Tokyu Tama Denen is underdeveloped. However, with Tokyu Corporation’s effort, it currently is a city where people desire to have a chance to live in. 

Based on our experience in developing the Tokyu Tama Denen for 48 years and Binh Duong New City’s current good conditions, we believe that it takes no much time for us to soon complete the Tokyu Binh Duong project and the soon completion of the project also contributes in promote Binh Duong New City become a wonderful city in 2020.

Besides real estate, Tokyu currently is operating in tram, car operation; high-end supermarket, retail, hotel, resort, information technology and security, ect. Toshiaki Koshimura also said that the company would like to cooperate with Becamex to invest into the above industry in Vietnam.

Hida Harumitsu, Japanese consul general in Ho Chi Minh City

In the circumstance the friendship between Japan and Vietnam is tighter and tighter, the ground breaking ceremony of Becamex Tokyu’s Tokyu Binh Duong Garden City is a happy event.

In Japan, Tokyu Corp is well-known as it works in railway industry but contributes much to local society via its dream urban areas which provide products with safe, user-friendliness and happiness.

Via the Tokyu Binh Duong, I believe Tokyu will contribute in Vietnam’s economic development and become a model of Japanese good enterprises in the nation.

Source: Becamex IDC

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