National economy endured a year of challenges and downturn risks. In the face of it and along with effective implementation of central government’s policies and decisions, Binh Duong Province has promoted its advantages to give out suitable decisive plans in accordance with local status, getting through all hard times and maintaining economic growth with assured social security.Thus, the good news ending the year 2013 just came: Binh Duong Province was ranked third nationwide in terms of global economic integration.The reality of hardship overcoming has enlightened trust and more expectations in the greater picture of social economy in 2014.Sustain the growthDespite estimated recovery in 2014, low rate growth bore risks. The recovering domestic economy left various challenges. The refrained inflation was potentially returning. Commodities are being loaded and unloaded at Thanh Phuoc transition port in Tan Uyen District Banking risks were potential. Liquidation of the banking system was improved but the reduced interest rates were too high for enterprises.The State-budget imbalance worry remained along with difficulties of enterprises.In such circumstances, the government has clearly identified that the general socio-economic target for 2014 was to sustain macro economy, control inflation, maintain reasonable growth, and elevate competitiveness of the economy on the basis of implementing 3 strategic breakthroughs integrated into growth model, of restructuring economic structure, and of ensuring social well-fare and security.Nine groups of measures have been proposed to ensure the targets including concentration on flexible and effective monetary policies, implementation of tight fiscal policies, practice of saving, market development, product demand and supply balance assurance, market and price control intensification, production promotion, importation control, production and business blockage removal, concentration and promotion of institutional and administrative reforms, improvements of quality human resources, concentration on infra-construction, etc.In the stage of more estimated challenges to the global and domestic economies, so as to maintain stable growth and completion of socio-economic targets proposed by Party Committee, People’s Council and People’s Committee, groups measures of the governments should be implemented in local circumstances while promoting local advantages to sustain the growth and overcome challenges.More trustIn 2013, despite difficulties, the locality has maintained and exceeded the targets of socio-economic development. GDP grew by 12.8% compared to 2012 with average VND 52.7 per capita per annum. Total retail sales and service revenue increased by 24.3%. Importation revenue increased by 15.7%. FDI attraction was accounted for USD 1.32 billion. Total investments for social development increased by 15.5%.In the year, total State’s budget collection reached VND 29,000 billion meeting the estimation. The budget pay-out reached VND 10,000 billion, meeting the estimation. Social security was maintained.Besides, global integration and competitive index of Binh Duong Province in 2013 was third in 63 provinces and cities. The result announced by National Committee of International Economic Cooperation represented the economic integration ability of the locality in bright signals.The index was based on 8 key criteria of commerce, investment, tourism, the people, infra-structure, culture, local specifications and institutions, etc.The encouraging results should create foundation, locomotion, and trust for the sake of local development in the time to come.And more expectationsIn 2014, Binh Duong Province continues targeting for general concentration on human resources for sustainable socio-economic development while controlling inflation and removing obstacles barring the enterprises. Investment environment shall be improved to increase higher growth than in 2013. Socio-economic synchronous and modern-oriented development shall be a foundation for Binh Duong Province to be constructed as a city under government management by 2020. Climate change shall be robustly responded to while social security shall be ensured.In the stage that global economies are recovering, domestic economy is verging to the stability.The integration of Vietnamese economy to the international arena eyes bright signs.The major negotiation rounds of ASEAN+3, Trans Pacific Partnership (TPP), Vietnam-EU FTA, etc. are on process of signing.The foreign investment flows are tending to inbound for Vietnam ant its localities bringing up more opportunities.From the objective and subjective conditions together with socio-economic positive signs that Binh Duong Province has gained in the stage of difficulties and challenges in 2013 as foundations for expectations of implementing socio-economic targets in 2014 that Provincial Party Committee, People’s Council, and People’s Committee have succeeded.By Le Thanh Cung (The Chair of Binh Duong Provincial People’s Committee)Translated by Vi Bao