Non-budget capital actively affects socio-economic development

The sources of non-budget capital have played an important role in the process of Binh Duong province’s socio-economic development…  Non-budget capital has greatly contributed to building infrastructure under the forms of B.O.T, B.T…

Great proportion

The province’s development investment capital between 2000 and 2010 achieved an average growth of 17.5% per year, according to statistics from provincial Department of Planning and Investment.

Noticeably, domestic and FDI capital accounted for 70% of the province’s total development investment capital. Till 2010, FDI capital accounted for 49.9%; budget capital, 10.5%; domestic capital, 26.4%; credit capital, 5.6%; private capital, 7.4% and other sources of capital, 0.2%.

The sources of budget capital mainly focused on basic construction projects, paying way for the local socio-economic development. The province also effectively mobilized the sources of non-budget capital for infrastructure development under the B.O.T and BT forms. Whilst, ODA capital concentrated on environmental protection projects.

Possibly speaking, non-budget capital has played a decisive role in helping the province reach high growth in comparison to other localities. FDI capital saw the average increase by 3.4%, domestic capital by 27.7%, private capital by 20.6% in the 2000 and 2010 period.

FDI capital impacting on many aspects

Apart from providing great capital for economic growth, FDI capital has contributed to shifting the province’s economic structure under the industrialization and modernization trend. So far, the province has absorbed 36 countries and territories with many licensed projects. FDI capital has also helped enhance the competitive capacity of Vietnamese products, facilitating their penetration into the international market.

FDI capital has contributed to promoting and transferring sci-tech advancements. According to provincial People’s Committee vice-chairman Tran Thanh Liem, FDI has also contributed to changing provincial leaders’ thought and awareness, greatly impacting on improving management mechanism, reforming administrative procedures, developing infrastructure and service sectors.

The province has over time made efforts in improving its business climate by implementing preferential policies, effectively realized the “one-door” policy, quickly solving investors’ queries. As of late 2011, FDI sector has drawn about 450,000 laborers, contributing to generating jobs for locals and improving their living conditions.

Reported by K.Tan-Translated by K.T

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