Smart city building breakthrough in new period - Part 2

Part 2: Industrial development, high-quality investment attraction

Binh Duong's economy is developing rapidly and priorpitizes industry - service with the following production proportions: 66.5% - 22.78%, ensuring harmony between growth goals. Binh Duong is also striving for the goal of becoming a modern industrial center, a smart city, continuing to develop rapidly and sustainably in the next period.

To boost industrial development

As one of the regions having the most thriving industries in the country, Binh Duong achieved many important results, especially the planning and development of industrial parks (IPs) in the province. Up to now, the province has 29 industrial parks with a total planned area of over 12,670ha, occupancy rate of over 70%. Currently, IPs have attracted nearly 3,000 projects, including 2,525 FDI projects with a total registered investment capital of nearly 24.5 billion USD. In particular, many IPs have become reputable brand names helping Binh Duong attract investment of many large enterprises and multinational corporations.

Industrial development has become the driving force for Binh Duong to sustain an annual economic growth rate of over 9%. A period of 2015-2020 reaches 9.35% / year, equal to 1.4 times of the national average. Gross regional domestic product (GRDP) reached 155.7 million VND in 2020. Budget revenue exceeded the set target, is the locality with the 3rd highest contribution to the Central budget. These accomplishments are the foundation for Binh Duong to continue its stronger and more firmly development in the next period.

In order for the industry to develop rapidly and sustainably, enterprises in the province are also gradually innovating technology, improving production capacity levels, and environmental protection.

Nguyen Hoang Thao, Deputy Secretary of  Provincial Party Committee, Chairman of Provincial People's Committee, said that in the coming time, the province continued to accelerate the industrial restructuring towards the development of industries having high science and technology content, great added value; not to exchange the environment for economic development, resolutely refuse projects with outdated technologies, causing environmental pollution; improve production capacity level, gradually increase localization rate, participate more deeply in production network and global value supply chain. Binh Duong step by step establish an scientific technological industrial park - urban area; focus on developing high quality service industries; build a network of modern logistics infrastructure; to continue strongly developing hi-tech agriculture, urban agriculture; build new and advanced remote areas, new model countryside.

To attract high-quality investment

In order for industrial production to develop rapidly and sustainably, in the coming time, Binh Duong will continue to implement following solutions: Innovation to attract investment, to prioritize attracting investment and high-tech industries, supporting industries, and clean industries to increase product value and protect the environment.

In fact, newly licensed projects in the province mostly employ modern technologies to generate products with high added values, belong to industries and sectors prioritized by the province. Enterprises in the province also gradually transformed their technology, improved capacity, lowered product costs. This has helped the province's industry gradually innovate technology, improve management level and competitiveness of the economy. Industrial production has maintained stable growth, improved competitiveness and is shifting its structure in accordance with provincial Party Resolution's orientation.

In light of the urgent requirements set out, some recent meetings discussed directions and tasks in the next tenure; leaders of the province affirmed that the province continued to focus on industries with competitive advantages and strategies favoring fast and sustainable growth; select advanced technologies and techniques right from the investment attraction stage, project formulation; select key products to prioritize its development, restructure; to develop processing and manufacturing industries; strongly increase the internal productivity of the industry, increase the proportion of science and technology application and localization in products.

In many meetings with FDI enterprises, Mr. Nguyen emphasized Binh Duong's commitment to strongly and substantially improving the business investment environment, creating a favorable business environment; and sharing and assisting investors in solving difficulties, promoting project development. The province encourages and gives incentives to foreign investment in high-quality services, agriculture - rural areas, education - training, health care, supermarkets, trade centers etc. with large, modern scale and up to international standards; to build traffic infrastructure to ensure faster connection with other localities in the region and the whole Southern key economic region.

* Mai Ba Truoc, Director of provincial Department of Planning and Investment: Binh Duong is becoming one of the leading provinces in economic development of the Southern Key Economic Zone. Industry continues to be the main development sector of the province, in the coming period, investment attraction will be carefully selected to get high-tech, less labor-intensive, high added value projects. Currently, industrial parks in the province are aiming to attract investment to achieve in depth, sustainable development. In the coming time, the province will prioritize enterprises with modern production technology and high added value; increase export capacity, generate foreign currency revenues; limit projects posing pollution risk to the environment; contribute to socio-economic growth in accordance with the trend of industrialization, modernization and urbanization.

* Pham Ngoc Thuan, General Director of Becamex IDC: With the goal of building Binh Duong into a smart city, strongly develop science and technology, and a destination for investors in the 4.0 era, the province assigned key projects to Becamex IDC. Developing an Innovation Zone with scientific technological industrial park as the center, aiming to create a new destination for investors and new generation citizens. All projects executed by Becamex IDC aim at technology industries, providing high-tech services; focus on supporting investment projects in technology innovation towards automation, robot application and artificial intelligence in production, management and administration. The promotion of high-tech industry development will spread to almost industries, creating high quality products for economic sectors in the whole region.

Reported by Ngoc Thanh - Translated by Ngoc Huynh