Established on Jan.1, 2010, Hoa Phu ward in TDM town has so far reaped considerable socio-economic growth. The ward bears the image of a city in the near future. 

The face of Hoa Phu ward is changing strongly

Where “city” belongs to…ward

Along with its favorable location, Hoa Phu ward has created a breakthrough when the project of Binh Duong New City was approved by provincial People’s Committee, Loc Trung Nghia, vice-chairman of the ward’s People’s Committee said.

Most of the city’s main items are placed in a 2,848.75 ha-area of the ward. Hence, it is not wrong when saying that Binh Duong New City belongs to Hoa Phu ward.

Once completed, Binh Duong New City will have concentrated political-administrative center, conference center, int’l exhibition, hi-tech park, Eastern Int’l University, banking and finance center, working office, hi-class accommodation area, square, cultural center,…All of them are now under construction in Hoa Phu ward.

Trade-services to be on rise

Hoa Phu ward now has 4 hamlets with more than 3,000 people and up to 15,000 those with temporary residence.

The ward’s total State budget revenue last year amounted to VND46.6bln or 198% of the projection. From many sources of revenue, the ward also added more than VND10bln into the State budget.

Hoa Phu ward is now home to 3 industrial parks (Ips), namely VSIP 2, Phu Gia and Dong An 2. Noticeably, VSIP 2 has so far absorbed 119 projects, 76 of which are operational with 16,743 laborers. Dong An 2 has had 6 out of 22 projects in operation and also lured a large number of laborers.

The birth of the Ips has contributed to promoting the development of the local trade-services sector. More than 400 households herein have got involved in lodging business and many other business activities.

According to statistics in the first half of the year, the whole ward has lured 141 businesses, including 80 foreign ones, up 46 compared to the same period last year. There are also 585 business households, contributing to promoting the local economic development.

The revenue from industrial manufacture now accounts for 60% of the ward’s total revenue. But according to leaders of the ward, the ward’s economic structure will completely change in the future. This is because there will be a strong development in trade-services when Binh Duong New City is officially put into operation…

Reported by Khanh Vinh-Translated by K.T