For Binh Duong people, the time of re-establishment of Binh Duong province 14 years ago is unforgettable. The historic time created a new page for the locality to make exploits of today.

20 years ago, little known that Binh Duong would be the country’s top industrial provinces. Binh Duong at that time was an agricultural locality. In the early 1990s, the province was still a poor locality with the main economic structure of agriculture. However, from the historic time of 14 years ago, Binh Duong started its innovation by transparent policies for the local industrialization and modernization. With well preparation of infrastructure facility, investment attraction…, investment capital sources poured constantly into the locality.

 

A corner of Vietnam-Singapore IP.

In the 2006-2010 period alone, local GDP jumped 14% per year, double of the whole country. The industrial production value for the period reached a high growth in 20% per year. Binh Duong now has 28 industrial parks (IP) covering on an area of 8,751ha, 24 IPs of which have lured more than 1,200 businesses. Also in the period, the total investment capital for development rose 14.7% per year whilst the total budget expenditure for development accounted for 40%...

Up to now, Binh Duong has had 9,012 local businesses with the total investment capital of nearly VND60,000bil, 1,922 FDI projects capitalized at US$14bil and reached a rise of export turnover of 22.9%. Export turnover in 2010 was estimated at US$8.5bil, accounting for over 11% total value of the country’s export turnover. The local export market has flied to 180 nations and territories. For many local and foreign investors, Binh Duong has really become a promised land for business and production.

Senior economic expert Pham Chi Lan assessed that Binh Duong has over the past 10 years become one of the country’s best localities in social-economic development. “I have still admired Binh Duong so far and I think that other provinces and cities should learn the locality’s experiences on socio-economic development and business improvement”, added she.

Perhaps, many people will also have the idea because Binh Duong has over the past 14 years obtained highlighted achievements, worthily being considered as exploits on the way of development.

Along with efforts for development, Binh Duong has spared no efforts to seek and prepare conditions for acceleration in the process of integration. Binh Duong New City occupying 1,000ha will be the political, economic, cultural and social hub. The 26ha Eastern International University, training 24,000 students per year and a 75ha, US$400mil hi-tech area invested by Singapore’s Mapletree Group, catering for hi-tech development will be new breakthroughs for Binh Duong’s rapid and sustainable development in the coming time.

Reported by T.Son – Translated by A.C