Binh Duong will soon become a regional economic hub

The goal of urban development of the province in the 2016-2020 period is to continue to build up Binh Duong as a green - clean – beautiful industrial urban city; a political, economic, socio- cultural, security - defense center, a transportation hub of the southern key economic zone and HCMC zone; develop Binh Duong to become civilized, modern urban city directly under the Central before 2020...

Promoting our role in the regional linkage

On Feb 13^th 2014, Prime Minister issued Decision No. 252 / QD-TTg approving the general planning for socio-economic development of the southern key economic zone by 2020 with an orientation towards 2030. This decision set up targets by 2020 to develop the southern key economic zone as a dynamic economic zone with high and sustainable growth rate; an economic locomotive; an economic, trade, cultural center of the country.

Transport system has been synchronously invested and helps Binh Duong to become an economic center of the southern key economic zone. Photo: A stretch of Highway 13 

Binh Duong is in HCMC zone and southern key economic zone. HCMC zone is a dynamic economic zone playing a strategic role in the industrialization, modernization and urbanization of the country. Among provinces adjacent to HCMC, Binh Duong has the most advantage, due to our western area sharing Saigon River with HCMC, northern area with Di An, Thuan An, TDM City linked to the core area of ​​HCMC. Therefore, Binh Duong has an important role to HCMC zone’s growth at present and in the future.

Economic growth rates sustain high levels

In recent years, provincial economy has grown highly and steadily; Binh Duong has become one province obtaining the highest economic growth rate of the country. Performing major policies of the State, provincial leadership has devised creative, flexible approaches to boost economic growth in line with the general trend of the country; has considered industrial production results as the driving force to stimulate economic growth, economic and labor restructuring towards industrialization and modernization.

In the HCMC urban zone, Binh Duong is one of the four provinces of the “nuclear quadrangle” that is crucial to the regional industrial development. By 2015, the province's economic structure shifted properly with proportions industry 60.3% - services 37.3% - agriculture 2.7%. Industrial production of Binh Duong has proved itself to be a key force with high growth rate, gradually developed in depth and motivating urban development.

Namely, in 2015, industrial production value of the province reached 216,598 billion VND, up 15.8% year-on-year. The province has 21,000 registered domestic enterprises with total investment of 157,000 billion VND and 28 industrial parks, 8 industrial clusters with a total area of ​​over 10,000 hectares and occupancy rate of 65%.

Currently, Binh Duong is boosting manufacturing activities towards increasing industrial products with high technologies and high added values, less labor-intensive and environmentally friendly. Binh Duong is also striving to become a major industrial center owning national-level production, highly competitive products in the domestic, regional and world market.

Regarding investment attraction, in 2015, Binh Duong spurred 18,242 billion VND of domestic investment capital, up 84% year-on-year; and nearly $ 3.36 billion of FDI. The province has now 2,587 FDI projects with total capital of $23.7 billion. Meanwhile, the role of service sector has gradually been heightened in provincial economy. Total retail sales revenues of goods and services of the province in 2015 increased 25.7% year-on-year. Binh Duong maintained a trade surplus of $ 3.7 billion in the last year.

With geographical advantages, economic growth has contributed to turning Binh Duong basically into an economic hub in the southern key economic zone.

Regional transportation hub

In the HCMC zone development planning under multipolar model, in which HCMC is the core urban area achieving the same pace as regional and international, Binh Duong is seen as an important locality in connecting, is a trade gateway linking HCMC with provinces around it.

With the goal of building Binh Duong province as an urban city directly under the Central by 2020, a civilized, modern urban city with greater strength in the southern key economic zone, in recent years, Binh Duong has invested in infrastructure system to facilitate socio-economic development and meet the transport needs in the province, connect with the national transport system and southern provinces.

In particular, the province launched many breakthrough projects. Namely, Highway 13 is the "backbone” of the transport system connecting Binh Duong with HCMC, Tay Ninh, Binh Phuoc; My Phuoc - Tan Van route is linked with Highway 1A, HCMC, Binh Phuoc; roads to provincial Integrated Political Center guarantees the connection between areas in the province with Binh Duong New City, districts, residential areas, industrial zones ... in order to facilitate the goods transport from areas in the region to the markets with cost savings. Thus, urban areas could heighten their competitiveness with other regions and attract investments.

With synchronous, continuous infrastructure investment connecting reasonably highways, provincial roads, district roads with the national transport system and provinces in the southern key economic zone, Binh Duong has an essential role to be the first province with a long-term methodical development strategy for infrastructure system and urban development. Thanks to this breakthrough strategy with transport system as a lever, Binh Duong has become a province with strong industrial development and one of the four indispensable pillars in the southern key economic zone.

Reported by P.Le – Translated by Ngoc Huynh