Despite the country’s common difficulties, Binh Duong’s economy in 2012 has still reached positive changes with some targets gaining results higher than those of the previous year and the average levels of the whole country.

Targets exceeding country’s average levels

In 2012, the province’s GDP growth was estimated at 12.5% with an economic structure of industry-service and agriculture at 62%, 34.2% and 3.8%, respectively. GDP per capita in the province reached VND44.2mln. The province’s industrial production value grew by 14.2%; agricultural production value by 3.9% and services value by 20.8%.

The province’s export turnover was also estimated at US$12.129mln, up 16% while import value was estimated at US$ 9.939trillion.  

Production and business activities of province-based enterprises

Regarding investment attraction in 2012, the province lured additional US$2.609mln in FDI capital. The province has so far absorbed 2,117 FDI projects with total registered capital of US$17.327mln. The province’s domestic investment attraction in 2012 was also estimated at VND11.331trillion. The province has so far lured 13,386 domestic investment projects with total registered capital of VND101.771trillion.

Also in 2012, the province’s total State budget collection was VND24trillion while State budget spending reached VND9.5trillion, including VND3.8trillion for basic construction.

In general, many targets of Binh Duong in 2012 did not fulfilled the set projections, but they were still higher than the average levels of the whole country. For example, the province’s GDP growth was double compared to the average level of the country. The province’s industrial and agricultural production value, total retail sales revenue of commodities and services and export turnover saw increase in comparison with the corresponding period of last year. The province also reached a robust growth in terms of FDI capital and investment capital for the development of the whole society.

As of Nov.20, 2012, the whole country drew US$12.1bln in FDI capital while Binh Duong lured more than US$2.6bln in FDI capital, helping the province take the lead in FDI attraction. This showed Binh Duong’s flexibility in terms of infrastructure investment, marketing for investment for a favorable investment climate.

In 2012, the country’s export turnover was estimated to increase by 16.6% while Binh Duong’s export turnover grew by 16%. The country’s total retail sales revenue of commodities and services was estimated to rise by 18% while Binh Duong’s total retail sales revenue of commodities and services saw an increase of 29.7%...

Still difficulties ahead

It is predicted that the world’s economy in 2013 will continue facing difficulties, affecting the economy of Vietnam in general and of Binh Duong in particular.

In 2012, nearly 560 businesses were dissolved or temporarily stopped operating in Binh Duong or 3.6% of total. This will directly affect the local economic development in 2013.

According to predictions, economy will continue facing difficulties, so it is very difficult for the above businesses to resume work. Hence, Binh Duong’s target set in 2013 is to mobilize all resources to restructure the local economy. Binh Duong will also focus on stabilizing marcoeconomy, maintaining stable growth; removing the business community’s obstacles, improving the issues of employment, income and living conditions of people from all walks of life…

Reported by T.Dong-Translated by K.T