Binh Duong always attaches special importance to enterprises ‘quality

Over the past years, province-based enterprises reached a breakthrough in both quality and quantity.

Vigorous growth in quality

In his working visit to Binh Duong three years ago, Prime Minister Nguyen Xuan Phuc instructed the province to attach special importance to productivity increase, sci-tech application, flexibility and innovation for growth. The province also needed to have better coherence between domestic and foreign investors while being aimed at developing 50,000 enterprises in 2020.

Mai Hung Dung, member of provincial Party Standing Committee, Permanent Vice-Chairman of provincial Party Committee said that with the current growth, the province is likely to reach a target of developing 50 enterprises in 2020. The province has so far had 42,269 enterprises with total registered capital of more than VND357.6trillion. Noticeably, along with increase in terms of quantity, the number of enterprises has also been improved obviously.

Especially, domestic capital flowing into the province has increased sharply. The figure in 2019 was more than VND56.7trillion. The province also absorbed more than US$3.06billion, surpassing 119% of the year’s plan and surging 49% compared to the previous year. The whole province has till now lured 3,753 valid FDI projects with total registered capital of US$34.23billion…

According to Mr.Dung, along with constructing a modern and synchronous infrastructure system, the province will set up flexible institutions via incentive policies and a modern administration system; promote the birth of an innovative ecosystem based on close coordination between innovative subjects in the region. This aims to meet increasing demand in cooperation between the State, institutes and enterprises, promote industries and absorb hi-tech companies…

Assoc. Prof. Dr.Tran Dinh Thien, former head of Vietnam Institute of Economics and member of the Economic Advisory Board for Prime Minister said that it is time Binh Duong needs to focus on improving the quality of enterprises; set up ecosystems for big and small enterprises for mutual support to create national competitiveness. Especially, the province needs to develop more key enterprises like Becamex IDC in order to promote satellite ones.

Further fostering startup ecosystem

The issue of innovative startup ecosystem development is one of priorities emphasized in the resolutions of the Party and the Government in socio-economic management.

Over the past time, with its orientation on smart city development, Binh Duong implemented many concrete actions in fields. The province’s smart business nursery has so far created startup businesses with effective operation. This is seen as an initial efficiency of the development orientation.

According to Nguyen Quoc Cuong, Director of provincial Department of Science and Technology, there will be more support policies for startup businesses. As of late 2019, the province inaugurated a startup support center, aiming to bring the “three-side” support to people and enterprises closer while helping absorb more institutes and schools. This will help province-based enterprises make innovation, increasing their production value…

Reported by Tieu My-Translated by K.T

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