Binh Duong's industry and trade sector successfully completing 2024 tasks

In 2024, the global situation remained complex and unpredictable, with numerous risks and instabilities. Major economies and key trade & investment partners of Vietnam, including Binh Duong, experienced slow recovery and continued tightening monetary policies. Exchange rates for the U.S. dollar, gold prices, fuel prices, basic commodity prices and transportation costs fluctuated significantly.

In response to these challenges, Binh Duong's industry and trade sector actively implemented a range of synchronous solutions to address difficulties faced by businesses, organized numerous trade promotion activities, expanded markets and enhanced the efficiency of administrative procedure reforms…

Additionally, businesses in the province proactively transformed their models, adjusted strategies and responded flexibly; boldly embraced digital transformation, swiftly stabilized operations and continued developing their production and business activities.

Throughout the year, the province’s industrial production achieved significant growth compared to the same period, with key sectors recovering positively and stabilizing. The processing and manufacturing industry continued playing a central role in the province's economic growth, contributing to trade and export promotion. The internal structure of the industrial sector saw positive changes, with a gradual reduction in the proportion of mining and labor-intensive industries, shifting toward high-tech industries.

The province’s Index of Industrial Production (IIP) was estimated to increase by 7.6% compared to the same period (6.1% in 2023; planned target > 8.7%). Efforts were focused on procedures for land use, planning and infrastructure development in industrial compounds, improving quality toward green industry, circular economy and Industry 4.0. Additionally, continued advice was provided for implementing the functional transformation and relocation of production facilities interspersed within residential areas to industrial parks and compounds.

 The province’s electricity sector effectively implemented solutions on investment, upgrades, regulation…to ensure sufficient power supply for daily life, business and production. Commercial electricity output was estimated at 16.94 billion kWh, an increase of 11.4%, while electricity savings reached 406.2 million kWh, up 10.8% compared to the same period. The rate of households using electricity across the province remained at 99.999%. Regular exchanges and collaborations with Vietnam Electricity (EVN) and Southern Power Corporation were conducted to address challenges in planning, executing electrical projects and relocating power grids for project implementation. Efforts were also focused on developing new and renewable energy sources.

In terms of domestic trade, the sector effectively implemented the local market stabilization program and stockpiled goods for holidays and Tet. The supply of essential items such as food, raw materials and fuels was consistently ensured, resulting in stable prices without significant fluctuations at the demands of people’s daily life and enterprises’ production-business. Retail enterprises actively brought goods to rural areas and industrial zones and launched promotional programs to stimulate consumption. Regular meetings with business associations and industry groups were organized to promptly address obstacles.

The province’s total retail sales revenue of goods and service was estimated at VND 351,640 billion, an increase of 13.3% compared to the same period (13% in 2023, with a target growth of 13%-14%). Additionally, market management forces regularly inspected and monitored the prices of essential goods, particularly gold and violations related to e-commerce. Measures to control, combat smuggling, trade fraud and counterfeit goods were strengthened, resulting in 628 inspections, 538 violations handled and VND 8.5 billion contributed to State budget.

Export and import activities experienced favorable conditions, with a trade surplus of US$ 10 billion. Most key export and import items maintained a solid growth rate compared to the same period. Estimated results include export turnover reaching US$34.5 billion, up 12.7% compared to the same period (a decrease of 10.9% in 2023, with a planned increase of 9-10%) and import turnover estimated at US$24.5 billion, up 12.2% compared to the same period (a decrease of 12.1% in 2023, with a planned increase of 9-10%).

To achieve these results amid general challenges, the industry and trade sector implemented various solutions to address difficulties, promote business production activities and fulfill its assigned tasks.

In 2024, provincial Department of Industry and Trade collaborated with sectors, units and localities to complete development of plans for the industry and trade sector, integrating them into provincial Master Plan for the 2021-2030 period with a vision to 2050. These plans, including many key aspects, were approved under Decision No. 790/QĐ-TTg dated August 3, 2024, by the Prime Minister.

Additionally, the department regularly monitored the situation and promptly encouraged businesses. Notably, it advised provincial People's Committee to successfully organize the 2024 Conference for engagement with industry associations and domestic investment enterprises. The event was attended by 200 delegates, with numerous opinions and recommendations being acknowledged, addressed and considered.

During the year, the department utilized industrial promotion funds to support 14 plans and projects with a total budget of VND 2.404 billion, achieving 86% of the plan. It also conducted the 7th provincial selection of outstanding rural industrial products, resulting in 41 products recognized at provincial level and 17 products certified at regional level.

The Department also effectively advised the province on implementing the Market Stabilization Program and stockpiling goods for the 2024 Lunar New Year. Revenue from essential items reached VND 2.284 trillion, exceeding the plan by 1.15% (VND 26 billion). The stockpile of essential goods at traditional markets to serve residents before, during, and after the 2024 Tet (Lunar New Year)  festival amounted to VND 236.2 billion.

Entering 2025, the sector has developed a Market Stabilization Program with the participation of 17 enterprises, involving a total stockpile value of over VND 13.725 trillion (excluding petroleum and medicine). Of the total figure, approximately VND 2.750 trillion is allocated for the period before, during, and after the 2025 Tet festival. Essential goods stockpiled at local markets to meet the shopping needs of residents during this period are estimated at around VND 248 billion.

The Department organized 20 trade promotion programs and plans to connect domestic product consumption, with total trade promotion expenditures for the year amounting to VND 10.863 billion, achieving 88% of the set plan. It held six market sessions under the program to bring Vietnamese goods to rural areas, industrial parks and compounds. The Department also supported enterprises in expanding their markets through e-commerce platforms, collaborated with relevant units to enhance international trade promotion activities and assisted businesses in establishing trade connections, expanding markets and signing new export contracts.

In addition to traditional markets, there is a focus on expanding into new markets such as the Middle East, India and member countries of trade agreements like CPTPP, EVFTA, UKVFTA, and RCEP…

To ensure energy supply for production and business activities, the Department continued implementing the renovation and development of the medium-voltage grid and transformers under provincial power development plan for 2016-2025, with a vision to 2035, approved by provincial People's Committee. Efforts focused on assisting investors in resolving difficulties and accelerating construction progress to ensure quality and timely completion of power projects, transferring them for use and issuing the Electricity Supply Plan and the Electricity Safety and Saving Plan for 2024. Commercial electricity output was estimated at 16.94 billion kWh, up 11.4%, with electricity saving reaching 406.2 million kWh, an increase of 10.8% compared to the same period. The household electricity usage rate across the province remained at 99.999%.

Provincial Department of Industry and Trade also focused on effectively implementing administrative reforms;  promoted digital transformation, implemented synchronous solutions to enhance the quality of online public services, increased the digitization rate of records and ensured over 99% of cases were resolved on time and maintained 100% of the stable digitization rate for results processing cases.

Additionally, the Department continuously improved its documents processing procedures to make them faster and simpler while ensuring compliance with regulations. By the end of 2024, the Department implemented three software systems, with 100% of civil servants using official email accounts for their public service tasks. All administrative documents were circulated via document management and workflow software associated without paper documents issued, received and transferred seamlessly in a networked environment. Furthermore, 100% of public services were upgraded to levels 3 and 4, and the Department completed the connection and integration of its administrative procedures with the National Online Public Service Portal and the Provincial Public Service Portal.

The administrative procedure information system in the electronic environment ensures that organizations and individuals can conduct transactions for administrative procedure dossiers and supports the pilot implementation of online charge collection for applicable procedures. Notifications regarding the use of digital signatures for online dossier submissions and the application of electronic identity accounts for organizations and individuals have been issued to all organizations, individuals, and businesses.

With the efforts by the entire sector, Binh Duong's industry and trade sector successfully accomplished most of its tasks in 2024. It is hoped that with results done in 2024, along with a tradition of solidarity, dynamism and dedication to work, all staff of the sector will overcome challenges and achieve greater success in 2025.

Reported by Kim Cuc-Translated by Kim Tin