Tuan said the province also expected three IZs - Nhon Hoa, Nhon Hoi A and the first phase of Hoa Hoi - would be fully occupied by the year-end.

For each of its industrial clusters, Binh Dinh was aiming for an occupancy rate of 75-80% in 2025 and 80-85% by 2030, Tuan said, adding that the province wanted to attract 200 investment projects, hoping that each would take on an average area of between four and five hectares per project.

At Nhon Hoa IZ in Binh Dinh (Photo: Nhon Hoa IZ)

In 2024, the province-based IZs attracted 21 projects with a total investment capital of over 4.3 trillion VND (169 million USD), bringing the number of operating projects to 343 to date. These IZs have thus far reported an occupancy rate of about 64.2%.

Meanwhile, its ICs last year proved a draw for 29 projects, worth over 2.7 trillion VND, lifting the number operating in them to a total of 390 projects valued at above 18.9 trillion VND. From that sum, 53% or over 10 trillion VND, was disbursed.

However, Vice Chairman of the provincial People’s Committee Nguyen Tuan Thanh warned that there remained many limitations in the development of IZs and ICs in the province, such as insufficient technical infrastructure, slow investment progress and ineffective investment promotion activities.