Final part: Breakthroughs and strategic targets

The superfast development in 2 decades has made Binh Duong a model urban and industrialized locality. Upholding the belief that ‘success is formed’, we interviewed the economic experts to elaborate the factors that made up such success.

Breakthroughs of concentrated industrial parks and clusters

It is asserted by Ph.D. Nguyen Dac Binh Minh, Director of Regional Research and Development Institution of Ministry of Science and Technology as such on talking to Binh Duong Newspaper report on the development of the province in the past time. Accordingly, Minh informed that the right decisions and policies of planning, constructing and developing concentrated industrial parks and clusters have made Binh Duong successful as today.

Binh Duong provincial authority has at the soonest initiated and boosted the planning and constructing industrial parks and clusters while other authorities were paying attention to modernizing agriculture, making this a great advantage for investment luring. The best evidence was that 48 industrial parks and clusters are concentrated in the province on 14,970 hectares of land. The economic structure in about 10 recent years of Binh Duong has been maintained by focusing on developing industries, trade, and services at 60% for industries and 35% for trade and services.

Besides, provincial authority has planned and developed modern industrial parks in good manner to create premises for foreign investment luring. Thereon, leverage for breakthroughs is set for industries and economy of Binh Duong. The concentrated industrial parks and clusters with technologies and modern production lines shall contribute to the improvement of quality and product competitiveness. In the meantime, it contributed to investment luring and improvement of effective use of resources in the province.

However, Minh believed that the breakthroughs of Binh Duong economy were attributed to determination and agreements of the Party, authority, and people in the province regarding the effective implementation of plans and reforming tactics of industries. Getting the further vision, Binh Duong provincial authority has focused on improving investment environment and timely removing obstacles for enterprises and continued to consider enterprises as the center for development and reforms. In the meantime, the synchronous infrastructure shall be promoted to connect value chains, production chains and domestic and foreign enterprise connection as the significant factor helping Binh Duong strongly develop in the past stage.

Intellectual economic center attached to science and technology

Associate Professor, Doctor Dang My Chau, Regional Director of Topica in Singapore, the Philippines and Thailand believed that the success of concentrated industrial parks and clusters in Binh Duong shall be oriented to further targets of making an intellectual economic center with sciences and technologies out of Binh Duong province in the on-going investment projects.

The provincial authority has particularly planned for development and construction of a smart city to head for an ecosystem of activeness, creativity, connection, and continual reforms. Human and intellectual factors are put at the center and smart cooperation connection becomes the orientation for socio-economic development. Eindhoven, a prosperous industrialized city, authority is a strategic partner who has been assisting the development of Binh Duong smart city project. By the triple helix model of cooperation (State-enterprise-school), Binh Duong smart city shall be formed by 50 specific actions under 14 programs of 4 pivotal targets of human, enterprises, technologies and infrastructure, of which, human and intelligence are central factors and smart connection is taken as development motto.

Throughout the decisions of smart city development of the province in the past years, Provincial Department of Science and Technology has actively coordinated with departments, associations, and enterprises to organize hundreds of tranining courses on creative start-up and smart educational methods for teachers and students in the province who have participated in annual contests and Binh Duong Innovation is a good example.

To become a center of trade, services and finance

Ph.D. Can Van Luc, BIDV Chief Economic Specialist, member of National Financial and Monetary Consultancy Council, asserted that the superfast development of Binh Duong in the years has built up the greatest attraction force towards investors. The synchronization of infrastructure and demography are premises for trade and services, especially finance and banking, in Binh Duong to strongly develop for the time to come.

Luc also put that large enterprises operating in services, trade, tourism, logistics, industrial real, finance and banking, and so on would son participate with large-scale investment strategies into BInh Duong.

“Those effects will promote and make Binh Duong a center of trade, services, and finance for the time to come,” said Luc.

The obvious evidence is that the strong transition of the provincial economy, especially industrial urban areas in the south like Di An city, Thuan An city, and Thu Dau Mot city has been for trade and services. Orienting to sustainable development, Binh Duong provincial authority is not only prioritizing attraction of high-tech production but also transitioning to development of high quality trade and services including the priority for highly intelligent industries, e-commerce, finance, and banking with expectations for returning  impacts of services to create promotion for stronger industrial developmentt.

Reported by Dinh Thang – Translated by Vi Bao

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