Nguyen Van Duoc, Chairman of Ho Chi Minh City, emphasizes the need to utilize resources for the city’s development, focusing on state-owned enterprise Becamex IDC, a major player in Binh Duong with 4,700ha of industrial park land. Established in 1976 and transitioned to a corporation in 2010, Becamex is a leader in infrastructure development with a 30% market share in Binh Duong, ranking third nationwide. It has joint ventures with Singapore to develop VSIP, managing 12 industrial park projects across Vietnam. In 2024, Becamex reported a revenue of 5.239 trillion VND, albeit 34% lower than 2023, yet net profit increased by 5% to 2.395 trillion VND. The city’s leadership suggests the necessity for at least two strong enterprises like Becamex to bolster local economic growth.
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