Binh Duong has achieved a robust growth in economy after  its 16  year-reestablishment. Particularly, the local socio-economic targets in 2012 were tens of times higher than those in 1997. The result came from Binh Duong’s efforts in inheriting and upholding the local traditions during the development process. 

With rapid industrial growth, Binh Duong has lured hundreds of thousands of laborers from other localities

Economy with great growth

After 16 years of development, Binh Duong has become a locality with high growth in terms of industrialization and urbanization in the southern key economic zone and created a good impression on international friends in the process of  international integration.

Particularly, as of late 2012, the province’s industrial production value reached VND140.66trillion, 32 times higher than that of 1997. Total retail sales revenue of commodities and services was estimated at nearly VND75.146trillion, 24 times higher than that of 1997. Total export turnover secured more than US$12bln, 33.5 times higher than that of 1997. State budget collection was VND24trillion, 30 times higher than that of 1997. Economic structure was shifted towards industry-services-agriculture with 62%-34.2% and 3.8%, respectively.

During the local development process, Binh Duong has attached special importance to mobilizing all resources for infrastructure construction in association with the rural urbanization and industrialization. The province has so far developed 29 industrial parks and 8 industrial compounds with total area of nearly 10,000 hectares and the tenancy ratio reaching 60%.

Thanks to building up a favorable investment climate, Binh Duong has till now absorbed nearly 13,400 domestic firms with total registered capital of VND103trillion, 11 times higher than that of 1997 and 2,117 FDI firms capitalized at US$17.3bln, 15 times higher than that of 1997 in both number of projects and amount of capital.

The participation of many economic sectors have contributed to promoting the development of the local industrial manufacture, especially hi-tech industries with great competitiveness. This has also contributed to helping Binh Duong reach a sustainable socio-economic development in the coming time.

Residents’ livelihood improved

Thanks to having a rapid growth in economy, Binh Duong has effectively realized social welfare policies. Particularly, as of late 2012, Binh Duong basically escaped poverty under the province’s poverty line in the 2011 and 2015 period. Education sector also saw in-depth development with 100% of solidly-built schools and 100% of districts and towns reaching national standards on universalization of secondary education.

The whole province had 100% of commune/ward/township-level health stations with doctors. The province’s policy on socialization of health-education fields saw a strong development. The province also well realized the activities of “Paying debt of gratitude”. Such these apart, many socio-cultural aspects reaped great progress, contributing to improving the spiritual life of the local people.

The above result came from a consensus between the local Party, government and people. Upholding achievements done by Song Be in the past, the Party, government and people of Binh Duong continued realizing the local renewal process, well tapped all resources from economic sectors and created a favorable investment climate in order to call for investment. This is also seen as a key foundation for Binh Duong to further overcome challenges, creating successes in the new period.

Reported by V.Giang-Translated by K.T