After its 16-year re-establishment, Binh Duong has reached a rapid growth in terms of industrial manufacture. This has opened great opportunities for the development of the local trade-services sectors. Hence, Binh Duong is now a good land for enterprises in these fields.

Industrial manufacture with robust growth

Binh Duong’s industrial manufacture in recent years has truly created a breakthrough, becoming one of the country’s localities having the highest growth rate. Reportedly, the province’s annual industrial manufacture value has achieved more than VND141trillion, 32 times higher than 1997. Total retail sales of goods and services has reached VND33,083 billion, an annual increase of 24% and 24 times higher than 1997. The province’s economic structure has got the respective proportions of 62%, 34.2% and 3.8% for industry, services and agriculture. 

Many domestic enterprises at a conference on “Entrepreneurs connecting for trade” just held in Binh Duong New City

In the industrial development, Binh Duong has focused on mobilizing all resources to build infrastructure in industrial zones associated with urbanization and industrialization. The province has so far developed 28 industrial zones and 8 industrial compounds covering on a total area of more than 15,000 hectares. The province has also absorbed more than 13,000 domestic investment projects with total registered capital of more than VND115trillion, 12 times higher than 1997 and 2,160 FDI projects capitalized at more than VND18bln, 15 times higher than 1997. The province’s industrial development has opened great opportunities for enterprises in terms of trade and services.

Creating opportunities for trade and services

Binh Duong has attached special importance to calling for enterprises to make investment in infrastructure for the growth of the local trade and services. New urban estates have loomed large across Ben Cat district, Thuan An town, Di An town and TDM city, in which there are many built to become trade-services centers.

In the coming time, the proportion of trade and services in the province’s GDP will be increased to 42.2%, 8% higher than the current period. To achieve this target, Binh Duong will speed up its urbanization process with the local urbanization ratio to be lifted up 50% by 2015 and 75% by 2020. The province’s quick urbanization process will also open opportunities for enterprises in the fields of trade and services.

In the new urban areas of Binh Duong, many sections for trade and services are being opened. And with many advantages, Binh Duong is now seen as a good land for enterprises in the fields of trade and services. Addressing a conference on “Entrepreneurs connecting for trade” just held in Binh Duong New City, Huynh Quoc, Director of Quang Phat Co.Ltd. also said that Binh Duong is a potential market for the development of trade and services, due to its favorable location, increase of consumption trend…

Whilst, according to many investors, well-built infrastructure, key traffic systems and industry and urbanization on rapid development…are seen as one of decision elements for enterprises to make success in the fields of trade and services in Binh Duong.

Reported by Ve Giang-Translated by K.T