Despite the impacts of the global economic downturn, Binh Duong’s economy in Q1 still continued reaping positive results, particularly in exports and investment attraction…

Exports: Stable growth

In the first three months of 2012, Binh Duong’s export turnover was estimated at more than US$2.4bln, a year-on-year increase of 18.5%.

Many industrial products for export saw high growth against, including footwear (US$214mln, going up 15.7%), wooden products (US$353.7mln, 12.4%), garments and textiles (US$327.44mln, 0.1%)… 

Handing over investment certificates to many foreign investors in Q1 2012

In addition, the export of key export agro- forestry and fisheries products increased sharply. Fishery products rose by 56.2%, cashew nuts by 49.9%, processed food by 86.3%, rubber latex by 29.6%.

Other products with competitive advantage also saw considerable growth in export, including electronics up 12%, electric wires and cable up 12%, bicycles and their components up 25.8%...

According to functional sectors, industrial manufacture in the first three months of 2012 still faced many challenges, due to input material price increases, high lending interest rates…

Before the situation, province-based enterprises took many measures, including making logical arrangement in fields to save costs, building up distribution systems, attaching special importance to improving production technologies, researching and developing high added value products…

Through proper policies, the local authorities also opportunely removed enterprises’ queries and difficulties, helping them step by step stabilize production and continue maintaining growth.

Investment attraction: Beyond the plan

Binh Duong has set the target of achieving more than US$1bln in FDI attraction for the whole year of 2012. But, the province’s FDI attraction in the first three months of the year reached nearly US$1.4bln.

Particularly, the province absorbed 14 new FDI projects with a total registered capital of nearly US$1.23bln and 13 extra-ones with more than US$166mln. The figure has brought the total number of FDI projects flowing into the province so far to 2,043 with a total investment capital of nearly US$16.2.

The above result shows that Binh Duong still continues being an attractive investment climate for foreign investors. Noticeably, FDI enterprises have recently attached special importance to the fields of manufacturing hi-tech and competitive products, which is in line with the province’s industrial development orientations.

In the current context, the province’s achievements in exports and investment attraction in the first three months of 2012 are seen as a good sign. This is the foundation to believe that Binh Duong’s exports and investment attraction will continue overcoming difficulties to fulfill the set plan.

Reported by Trong Minh-Translated by K.T