Binh Duong starts late, but finishes early

Update: 02-01-2017 | 14:27:21

After 20 years of reestablishment, from a poor agricultural locality, Binh Duong has become an industrial locality developed towards industrialization, modernization and international integration, thanks to sound policies, creativeness of leaders over periods together with consensus among people from all strata.

Photo: Some considerable achievements done by Binh Duong during the past 20 years

On way of development

After being reestablished, Binh Duong continued selecting industrial development as a breakthrough step in the shift of economic structure, economic growth, promotion for services and agriculture, contributing to raising locals’ lives. The province mobilized all resources to develop industrial parks (IPs) and industrial compounds (ICs). So far, there have been 28 IPs with 10,560 hectares in total with the rate of land tenancy of more than 70% and 10 ICs with 707 hectares in total with the rate of land tenancy of around 65%.

From its success in fostering IPs, Binh Duong was appreciated as one of the Southern key economic zone’s core localities by the Government. To continue upholding advantages, creating a motivation for the development of the zone, the province decided to build an industrial-service-urban complex, in which the foundation was to foster IPs, residential estates and high-class services with a total area of 4,196 hectares. On October 12, 2004, the province commenced construction of the complex. Its technical infrastructure system on traffic, power, water supply-drainage…was basically completed after more than 10 years of construction. Six IPs in the complex were formed up and put into operation. Some projects under the complex’s international standard service area of 678 hectares were also implemented. Locating in the middle of the complex is the Binh Duong new city project with 1,000 hectares in total, which was built in 2010 towards a modern and civilized city.

The province’s vigorous development for IPs and ICs, especially the complex contributed to promoting the local industrial manufacture with the annual average growth of 24.6%. The highest growth rate was 35.6% in the period of 2001 and 2005. Industrial manufacture continued playing a major role in the local economic growth.

New height

Thanks to having a firm industrial lever, the province’s economy continued shifting in the right direction. In 2016, the local economic structure was 63% in industrial manufacture, 23.5% in services and 4.3% of agricultural production…Especially, the average income per capital of locals continued reaching rapid growth. The average GRDP per capita in 2016 was estimated at more than VND108.6million, 18.7% times higher than 1997.

As of October 2016, the whole province absorbed 24,976 domestic projects with a total registered capital of VND186trillion, a 34 and 21-fold increase in the number of projects and the amount of capital compared to 1997 and 2,808 FDI projects totaling US$25.5billion, a 25 and 26-fold increase in the number of projects and the amount of capital against 1997.

Upholding achievements done over the past time, Binh Duong has continued putting forward critical goals towards sustainable development for new achievements. The overall goal of the province till 2020 is to put focus on improving the quality of growth, increasing the scale of economy, ensuring sustainable development and reasonable growth. The province will also boost the shift of economic structure towards the growth of services-industrial manufacture in association with urbanization; promote hi-tech and urban agricultural models. In addition, the province will strive to become a first-class city with the goal of improving locals’ spiritual and material lives.

To effectively realize the above-mentioned goal, the province will bend on enhancing the quality of growth, increase the scale of economy; strengthen the restructuring of agriculture; concentrate on promoting hi-quality services. The province will also attach special importance to fostering hi-tech and urban agricultural models in association with processing industry and new rural construction. Besides, the province will develop synchronous infrastructure, intensify protection over natural resources and environment; improve and raise the effectiveness of State-run businesses, promote collective economy…

Possibly speaking, after 20 years of development, Binh Duong today is one of the country’s hubs with flexible development and is an important locality connecting others in the Southern key economic zone. Binh Duong has so far become a modern industrial-urban hub and is also motivating a roadmap towards a smart city in the future. And it continues obtaining great changes every day, every hour to become a place that is worth living and working in.

Reported by Khanh Vinh-Translated by K.T

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Binh Duong starts late, but finishes early

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