Binh Duong proves its important role and position in the Southeast regional economy

Update: 22-10-2022 | 12:31:45

The Southeast is the most dynamic economic region of the country, the transport hub of the region. Localities in the Southeast region have achieved strong growth in recent years, of which Binh Duong has increasingly affirmed its position and important role in the regional economic growth.

Dynamic economic centre

Southeast is the largest industrial centre of the country and assumes the function of a trading hub for the whole region to connect with the world. A dense network of industrial parks concentrates on the quadrangle of Ho Chi Minh City, Binh Duong, Dong Nai, and Ba Ria - Vung Tau.

According to statistics, the Southeast region makes up over 34% GDP, over 50% budget revenue of the country, and leads in FDI attraction with over 60% of projects and 50% of total investment capital.

In addition, the Southeast economic region with Ho Chi Minh City as the centre - where training institutions, scientific research, medical centres are located, with abundant human resources, is the trade-service centre of regional and international stature, is an area with an attractive investment environment.

In the region, a satellite urban network has been formed in an open space, and linked to each other through ring roads.

Over recent years, Binh Duong has constantly invested in transport infrastructure to stimulate economic development. In photo: My Phuoc - Tan Van Road is put into operation, becomes the lifeline of the whole region

Currently, the Southeast region's transport planning is being carefully studied by the Ministry of Transportation based on the region's potentials, advantages and natural conditions.

The region will form highways connecting Ho Chi Minh City with important gateways, traffic hubs, and Ring Road 3, Ring 4, along with 19 national highways of about 2,795km long; develop urban railways, trans-Asia railways, north-south high-speed railways, and Bien Hoa - Vung Tau railways.

The Southeast region continues to invest and upgrade inland waterway ports, develop the southern waterway and logistics corridors; give priority to modernizing Cai Mep - Thi Vai international gateway port, developing inland port system, forming Long Thanh international airport.

Efforts to develop smart, sustainable cities

At a meeting with Binh Duong provincial leaders in April, Prime Minister Pham Minh Chinh assessed Binh Duong has many different strengths and potential, outstanding opportunities, and competitive advantages.

Binh Duong owns all the factors to thrive, become an important growth engine for the Southeast region and the whole country. Recently, Binh Duong has been in the group leading the country in terms of FDI attraction.

In 2021, despite many difficulties and challenges, Party Committee, authorities, and people of Binh Duong united, brought into play its potential and advantages, strongly aroused resources and achieved comprehensive good results in all fields.

Binh Duong's GRDP in 2021 increased by 2.62%; the economic structure shifted to the right direction; the proportion of industry - trade services reached over 89.2%; the index of industrial production (IIP) increased by 4, 5%; total import-export turnover reached 58 billion USD, up 17.8%.

Binh Duong is currently a major industrial centre of the country, with 27 active industrial parks and 12 industrial clusters over an area of more than 13,000 hectares. Binh Duong is the "destination" of domestic and foreign investors, the number of FDI firms ranks third in the country, the VSIP model is being replicated in many localities.

With the policy of "transportation one step ahead", Binh Duong has invested in "backbone" routes, such as National Highway 13, My Phuoc - Tan Van, North Tan Uyen - Phu Giao - Bau Bang, Thu Bien - Dat Cuoc, roads and bridges connected with Tay Ninh…

Especially, in the coming time, the province will execute the construction of Ring Road 3, Ring Road 4, and the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway for regional connectivity and economic breakthroughs.

Dr. Tran Du Lich, a member of the Prime Minister's Economic Advisory Group, said: “Along with Dong Nai, Ho Chi Minh City, and Ba Ria - Vung Tau, Binh Duong with favourable natural conditions, geographical location, and development advantages, has formed a "development quadrangle" of the Southern key economic zone.

Binh Duong's push in infrastructure development of transportation, industrial parks, and urban organizations is a typical example of economic development.

Transportation planning in the Southeast region will be a premise and an opportunity for Binh Duong to become a new core city next to Ho Chi Minh City. Planning experts believe that the urbanization of Ho Chi Minh City to the Ring Road 3 will be the threshold and beyond the influence of the core.

Therefore, the emergence of satellite cities in the region and the emergence of industrial belts is inevitable. The trend of urbanization will also change rapidly when an old central city is overcrowded, congestion will be left behind; the trend of seeking a better quality of life will spread to the periphery that has the advantage of large area, fresh environment, younger, cheaper workforce.

- Vo Van Minh, Chairman of Binh Duong Provincial People's Committee:

“Binh Duong is determined to improve urban areas in the South, move industrial production zones to the new core region of the North, and restructure to become green industrial zones, clusters, circular industries, and scientific and technological industrial parks, leaving the southern area for urban - service and commercial development.

This means that Binh Duong will make good use of advantages of ring roads and waterway traffic, which are being urgently implemented by localities in the region to form a new industrial belt system associated with modern logistics system. Binh Duong will form a vital piece in the overall picture of economic development in the Southeast region”.

Reported by Phuong Le - Translated by Ngoc Huynh

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Binh Duong proves its important role and position in the Southeast regional economy

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