New impetus, new determination

In 2023, the economic situations of Vietnam in general and Binh Duong province in particular faced many adverse external factors such as economic slowdown, global trade instability and increased strategic competition between large countries, fierce and prolonged conflicts in many parts of the world... With a relatively large economic openness, Binh Duong encountered many difficulties and challenges, due to fluctuations from the world’s economy. However, with proactive spirit and high determination, right from the beginning of 2023, based on central orientations, provincial Party Committee and People's Committee focused on leading and directing the drastic implementation of many solutions to solve obstacles, promoting the local socio-economic development.

Appreciable efforts

With the strong participation of the entire political system, people from all strata and the business community, Binh Duong passed 2023 with many important and meaningful results in the context of many challenges and difficulties. By the end of 2023, total products in the province increased by nearly 6% over the same period, with GRDP per capita reaching VND 172 million per year.

In 2024, along with solutions to promote growth, Binh Duong will focus on upgrading and embellishing old urban areas and developing the new ones in accordance with planning, creating a spacious, clean and beautiful urban image

Despite facing many difficulties, the province's industrial sector still gained positive development with the index of industrial production (IIP) increasing by nearly 5%. Although export and import activities faced many difficulties, due to declining demand in international markets, under the close direction of the province, the efforts, flexibility and adaptation by exporters, the province’s trade balance of goods continued  recording impressive results with trade surplus of about US$8.8 billion... The province’s total social development investment capital was more than VND 155.25trillion, an increase of 11% compared to 2022. As of December 15, the province also attracted VND 85.5trillion in domestic investment capital and absorbed US$1.5 billion in FDI capital. The province’s total State budget revenue was estimated at more than VND73.25 trillion...

Amids difficulties and challenges, the above mentioned results were truly respectable and of great significance, encouraging the Party, government, people and business community to be self-confident and ready to enter the new year with new confidence, expectations and determination.

Vigorious breakthrough in many fields

In 2024, based on the results achieved in 2023 and through assessing the advantages, disadvantages and impact factors, Binh Duong is determined to strive to achieve and exceed important targets. Particularly, the province will strive to increase the local GRDP by 9% - 10%, IIP by 8.7%, export turnover by 9% - 10%; reach VND 75 trillion in total budget revenue; obtain over VND 185 million in average income per capita...

To achieve the set goals, right from the beginning of the year, the province will implement development solutions in a synchronous way, with focus on removing policy bottlenecks and unlocking investment resources; continuing attracting foreign investment selectively in line with planning and linkage with domestic businesses to promote growth. In addition, the province will focus on solutions to manage the local State budget collection to achieve the set plan, especially tap a project on generating budget revenue from land to spend on development investment effectively; restructure public investment towards focused investment, creating space for development, priotizing capital on urgent projects with connection, promoting the regional and intra-provincial economic development; deployed synchronous solutions in disbursement of public investment capital, in association with accelerating the implementation progress of key projects in the province; attach special importance to upgrading and embellishing old urban areas and developing the new ones under the plan, creating a spacious, clean and beautiful urban image...

One of the important solutions is to promote reform of administrative procedures, increase the rate of comprehensive and interconnected online public services; strive to improve provincial-level administration indicators and bring the province to the country’s top localities in this field; promote digital transformation activities in each field to achieve practical and in-depth results and focus on allocating focused investment resources to build e-government, associated with targets on smart city construction, science and technology development, 5G infrastructure development; complete the local data warehouse, connecting all national data for exploitation in building digital government. On the other hand, the province will deploy an information technology park, pilot a Private 5G network model to serve applications in smart factories, develop industry 4.0 and foster policies to attract high-tech investors in terms of semiconductor chips, electronic circuits, attracting and training human resources in this field.

Along with economic development tasks, the province will further mobilize socialized resources for investment in health and education sectors; prioritize budget allocation to invest in depth, improving teaching staff and heatlth workers’ qualifications and skills, equipment and renovate the existing school system and public medical examination and treatment facilities in a modern direction, meeting prescribed standards; increase investment in science and technology development towards 4.0 such as developing the Vietnam - Singapore Innovation Center and Community Initiative Center; forming an innovation zone to meet the development requirements of the province...

Achieving the goals and tasks set out in 2024 is very challenging, requiring the entire Party, people and army to strengthen solidarity, strive to overcome difficulties and promote the spirit of innovation, creation, daring think, knowing how to do to be determined to effectively carry out tasks on socio-economic development, ensuring social security, national defense - security, building the Party, building a clean and strong political organization, contributing to successfully implementing the Resolution of the 11th provincial Party Congress for the 2020-2025 tenure.

Over VND 22 trillion in public investment capital to be allocated

In 2024, the province will allocate VND 22 trillion in public investment capital to focus on investing in key projects, creating motivation for the local economic growth. Particularly, the province will give priority to  allocating enough capital for site clearance and construction for key traffic projects, namely the belt roads 3, 4 of Ho Chi Minh city,, Ho Chi Minh city - Chon Thanh highway, Saigon riverside road from Thu Dau Mot city to Thuan An city...

Reported by Tri Dung-Translated by Kim Tin