After 15 years of Binh Duong province’s re-establishment, businesses herein have made robust growth, greatly contributing to the local development. This is also considered as the motive force of the province’s economy, helping the province make fast progress in the industrialization and modernization process.

 Fruits from good land

 After its 15-year re-establishment, Binh Duong may take pride of achievements done, especially in the field of economic development with GDP growth amounting to 14.5% per year. Noticeably, Binh Duong is also one of few localities greatly contributing to central budget in which the business community has made important contributions to this field.

  

Outstanding businesses honored

Over the past 15 years, Binh Duong-based businesses have got sharp increase in quantity and quality. Binh Duong is now home to 15,216 businesses, 21 times higher than 1996. Among them, there are 13,162 domestic businesses capitalized at VND 90.886trillion and 2,054 FDI ones totaling nearly US$14.6bln.

 

They have also made the diversification of industries, ranging from pottery, lacquer, wood sculpture to garment-textile, footwear, chemicals-cosmetics, food processing…Especially, Binh Duong has recently drawn many businesses manufacturing hi-tech products with strong competitiveness.

 

Possibly speaking, the evolution of the business community has importantly contributed to the shift of the local economic structure towards the growth of industrial manufacture and services.      

 

One of the most favorable elements leading to the robust growth of the business community is that the province has effectively applied the Party and State’s policies to attract investment via admin procedure reform, well-built infrastructure, human resource training…

 

Overcoming difficulties for development

                         

2011 is the year to mark great progress of Binh Duong’s businesses. This is also the year businesses have faced challenges from the global economic downturn.

 

In such a difficult context, Binh Duong’s business community has made efforts to gain growth in terms of revenue, profit and State budget contribution.

 

Becamex IDC Corporation is a typical example for the above mentioned thing. In 2011, the corporation reached VND8trillion in revenue and VND2trillion in profit, up nearly VND1trillion and VND200bln compared to 2010, respectively. It also paid VND580bln for State budget, up VND80bln compared to 2010.

 

Meanwhile, Dong A Steel Joint Stock Company achieved VND2.400trillion in revenue and VND VND113.7bln in profit, up VND705bln and VND19bln compared to 2010, respectively. 3-2 Construction Joint Stock Company also reached high growth with 2011’s revenue and profit amounting to VND371bln and VND50.7bln, up VND66.3bln and VND8.7bln against 2010, respectively…

 

Many other companies, namely Dai Thien Loc, Hiep Long…, have also made efforts to overcome difficulties to promote their development.

 

The effective operation of the business community has greatly contributed to helping Binh Duong achieve VND123.201trillion in industrial production value, nearly US$10.4bln in export value and collect VND22.5trillion for State budget in 2011.

 

Noticeably, Binh Duong-based businesses have actively got involved in social charity activities with the annual expense amounting to hundreds of billions of dong… 

Reported by Trong Minh-Translated by K.T