Binh Duong’s economy from 2016 to now further reaches high growth

After two years of implementing a plan on socio-economic development for the 2016-2020 period, Binh Duong has continued maintaining stable and high economic growth. The result will be the foundation for the province to fulfill the plan.

Annual GRDP growth at 8.83%

The province’s GRDP growth rate for the 2016-2017 period was 8.83%. The province’s average GDP per capita was VND120million. During the period, the province’s industrial manufacture value grew by 8.87%; service value by 8.96%; export turnover by 16.8%; agro-forestry-fisheries value by 4%.

Production line of TPR Company in VSIP 2

Over the past time, the province also focused on urban infrastructure construction towards smart city development and civilized-prosperous urban construction. Provincial Industrial-Service-Urban Complex has been built with a modern and synchronous infrastructure system, ensuring the connectivity of the region and the southern key economic zone…

The province’s total investment capital for social development reached the annual growth of 11.6%. In terms of investment attraction, since 2016, the whole province’s investment attraction has gained 84.3% of the 2016-2020 period’s plan. The whole province has to date absorbed 3,389 FDI enterprises with a total registered capital of US$30.83billion. With the result, the province has been among the country’s top three localities in FDI attraction.

In the first half of 2018 alone, the province’s GRDP growth rate was 7% compared to 2017. Particularly, industrial manufacture-construction rose by 8.2%; services by 5.3%; agro-forestry-fisheries by 3.5%...

Bending on removing obstacles

Along with the above results, Binh Duong since 2016 has still faced some obstacles on the quality of growth, competitive capacity, traffic infrastructure, environmental protection, mineral exploitation…for change.

Mai Hung Dung, Permanent Vice-Chairman of provincial People’s Committee said that in order to redress the above obstacles, provincial People’s Committee has implemented socio-economic development plans and State budget estimates in 2019, along with State budget allocation plan for 2019 and the following years. The province has also tightened control over management of land, minerals and environmental pollution; concentrated on removing queries in compensation and site clearance; continued effectively realizing 3 breakthroughs in a socio-economic development strategy for the period of 2011-2020; reached targets of the project on smart city development…

Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee affirmed that the province will further improve the local investment climate. Accordingly, the province will drastically reform administrative procedures; make support policies for small and medium-sized enterprises, create favorable conditions for individual business households to turn into enterprises; opportunely receive and handle petitions by people and enterprises; organize training courses on startup ecosystem, management capacity, competitive capacity…

Reported by Phuong Le-Translated by K.T

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