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Industrial production further gets thriving

Update: 11-09-2018 | 11:27:20

The province’s index of industrial production (IIP) in August 2018 surged 17.06% compared to the corresponding period last year. The result came from the province’s efforts in making administrative reform, supporting businesses and promoting production over the past time.

Well showing main role

Possibly speaking, the province’s industrial production over the past time continued well showing its main role in socio-economic development. The province’s IIP in August surged 8.3% and 17.06% against the previous month and the corresponding period last year. Noticeably, the province’s manufacturing, processing sector saw a 9.43% growth while mining sector decreased by 7.44% compared to the same period last year.

Production line of TPR Vietnam Company

Over the past time, the province made efforts in calling for hi-tech projects, especially large-scale ones to develop the local industrial, urban and hi-quality service development. Most FDI projects focused on industrial production. This helped the sector reach in-depth thriving, contributing to promoting the local urban, trade-service development.

The province’s export turnover in August, 2018 was estimated at US$2.15billion. The figure over the past eight months was more than US$12.1billion, up 18.1% compared to the same period last year with a trade surplus reaching nearly US$3.2billion.

Development in right direction

As oriented, the province will strive to become an industrial center by 2020 with national, regional-level production, high competitiveness in the domestic and world market.

Under provincial Party Committee’s Program No.34-Ctr/TU dated December 15, 2016 on improving investment attraction for the period of 2016-2020, the province will further absorb trade-service, hi-tech agricultural and auxiliary projects that are environmentally friendly with great contributions to the State budget. The province will also make efforts to implement provincial Party Committee’s Program, No.24-CTr/TU on further developing hi-quality services for industrial and urban development in the period of 2016-2020 and plans on socio-economic development.

To achieve the set targets, the province will continue giving priority to promoting clean projects with high added value; give priority to bolstering auxiliary industries; soon perfect the planning of material production and auxiliary industry areas and continue creating favorable conditions for enterprises to make investment and expand their production.

The province will also make the restructuring of processing sectors for export; promote spearheading sectors like electronics, telecommunications, mechanism…In addition, the province will foster industrial production in the southern region towards increasing hi-tech industries that are less labor incentive and more environmentally friendly. The province’s industrial development in the northern region will be associated with new rural construction…

Possibly speaking, the province’s industrial production over the past time made efforts in surmounting difficulties to further maintain good growth over the past time. For better development, according to experts, the sector needs to try harder in order to be worthy of being a main economic sector with development in the right direction, contributing to promoting the local urban, trade-service sectors. Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee affirmed that Binh Duong will continue well realizing a project on the restructuring of industrial sector, a plan on cleaner industrial production. Province-based enterprises also need to effectively use energy and material sources, protecting and improving the quality of environment towards sustainable development.

Reported by Khanh Vinh-Translated by K.T

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