Authorities of Tay Ninh and Binh Duong Provinces, both neighbors of Ho Chi Minh City, have reached an agreement to work together on multiple projects, including a road with ten lanes to boost the development of traffic infrastructure along the Saigon River, and to explore investment opportunities for an industrial complex in the former province.

Leaders of the two provinces signed the pact for joint economic and social development at a conference held in Tay Ninh on Friday.

The objective is not only to enhance the connectivity between Binh Duong and Tay Ninh but also to create a trade corridor with Cambodia, which shares a border with the latter Vietnamese province.

“The Moc Bai International Border Gate in Tay Ninh plays a crucial role in facilitating economic trade between Vietnam’s southeastern region and Cambodia,” Pham Ngoc Thuan, general director of Binh Duong-based Becamex IDC, a state-owned industrial investment and development corporation, said at Friday’s event.

Becamex IDC proposed the construction of a ten-lane road that begins in Binh Duong’s Bau Bang District, crosses Dau Tieng District and the Saigon River, and ends in Tay Ninh’s Duong Minh Chau District, to connect industrial parks in the two provinces.

The proposal also encompasses the establishment of an industrial and service complex in Tay Ninh.

Leaders of both localities and businesses have already conducted feasibility studies and surveys prior to the announcement of the project, according to Nguyen Thanh Ngoc, chairman of Tay Ninh.

Nguyen Van Loi, secretary of the Binh Duong Party Committee, stated that authorities in the two provinces will support investors in bringing their cooperation ideas to life, including the road project and the urban industrial complex that he believe would contribute to the development of both localities.

In 2022, foreign direct investment in Binh Duong surpassed US$3.1 billion and the corresponding figure in Tay Ninh was $692.2 million, according to the two provincial Departments of Planning and Investment.

In December of the same year, the two provinces inaugurated a six-lane bridge, which stretches 330 meters across the Saigon River, and approach roads that ease access to the bridge.

The new bridge helps shorten travel time between the two provinces and enhance connectivity in the southeastern region.

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