Concentrating on stabilizing macro-economy, promoting development

On August 10, Prime Minister Pham Minh Chinh, Chairman of the Coordinating Council for the Southeastern Region, presided over the 4th meeting of the Coordinating Council for the Southeastern Region in Ho Chi Minh city. The meeting was attended by Deputy Prime Minister Tran Hong Ha; Nguyen Van Nen, Politburo Member, Secretary of Ho Chi Minh city’s Party Committee; leaders of several ministries and agencies, leaders of provinces and cities in the Southeastern region. For Binh Duong province, there was Nguyen Van Loi, Member of the Party Central Committee, Secretary of provincial Party Committee, Head of provincial National Assembly deputy delegation.

Comprehensive growth

Assessing the results of implementing socio-economic development tasks and the activities of the Coordinating Council for the Southeastern Region, Minister of Planning and Investment Nguyen Chi Dung stated that the socio-economic situation in the first seven months of 2024 still faced many challenges while the region achieved fairly comprehensive growth in all fields. Specifically, the growth rate reached 5.6%. Total State budget revenue reached VND 391 trillion, accounting for 38.1% of the national State budget revenue. Export value reached US$60 billion, accounting for 31% of the country’s export value. There were 58,246 newly registered enterprises, an increase of 9.8% compared to the same period in 2023...

Bach Dang 2 bridge, connecting Binh Duong and Dong Nai, is expected to be completed and put into use on the upcoming National Day, September 2. It is anticipated to contribute to the development of the entire Southeasternern region

In addition to special mechanisms for overall development in the Southeastern region, the Ministry of Planning and Investment also proposed that the Prime Minister should consider four specific policy groups for the Southeastern region, including policies to increase the lending limit; policies to develop industrial parks; policies to increase the area of industrial parks and policies prioritizing fields for localities in the region to attract investment. Speaking at the conference, Prime Minister Pham Minh Chinh acknowledged that there were still many challenges in implementing tasks, but he expressed confidence that with high responsibility, ministries, agencies and localities would promote the spirit of "working together, winning together, sharing responsibility" and that the Southeastern region would continue building on its achievements, contributing to promoting socio-economic development, stabilizing national defense-security and achieving 2024’s targets.

Capital support needed for key projects

Speaking at the conference, provincial Party Committee Secretary Nguyen Van Loi stated that Binh Duong is focusing resources on investing in key regional traffic projects with total investment of about VND 60 trillion. After cutting, delaying and postponing other non-essential projects, the province still faces a shortfall of about VND 10 trillion. The province proposed the Prime Minister to consider and support with a mechanism to borrow VND 10 trillion to focus on investing in key projects. Additionally, the province made several proposals to the Prime Minister, ministries, agencies and localities in the region in order to drastically and effectively direct approved contents, especially infrastructure projects with regional connection.

The Suoi Cai project has total investment of over VND 5 trillion, with the dual goal of draining off water for Tan Uyen city and creating space for urban development

Specifically, Binh Duong proposed to add items to the belt road 3 project in Ho Chi Minh city, with a proposal of completing Tan Van intersection at a total cost of about VND 1.7 trillion and investing in additional two bridges on the parallel road at Binh Goi bridge at a cost of about VND 334 billion per bridge, using funds from the project’s reserve capital.

Regarding investment in urban railway projects to implement Binh Duong's Bus Rapid Transit (BRT) project using Japanese ODA loans on the My Phuoc - Tan Van route, with VND 1.34 trillion in official development assistance (ODA) capital and counterpart capital of VND 720 billion, Japan will support the province in researching the development of a light rail transit (LRT) route to connect TODs (Transit-Oriented Development) to meet the travel needs of more than VND5 million people in the province.

As for the metro route from the center of Binh Duong new city to Suoi Tien station, with a total length of about 34km, connecting to Ho Chi Minh City's Metro Line 1 (Ben Thanh - Suoi Tien), a unit has proposed a plan sponsoring the pre-feasibility study report. Binh Duong proposed on approving the policy of transferring ODA loans from the BRT project to the pre-feasibility study of the LRT route and supporting the province in completing procedures for the metro route from Binh Duong's new city center to Suoi Tien station, connecting to Ho Chi Minh City's Metro Line 1.

Reported by Minh Duy-Translated by Kim Tin