State-run businesses uphold role as an engine of local economic growth

Marking the country’s change from subsidy economy to market-oriented economy, the Party’s resolution specified: “State-run businesses play a main role in the multi-sectored economy”. Under the spirit, State-run businesses in the province have upheld their role as an engine of the local growth, contributing to building technical infrastructure and being a model in investment attraction for socio-economic development.

Infrastructure construction

Looking back the initial period of the province’s reestablishment, Binh Duong had a very limited source of State budget revenue that did not meet needs on reinvestment for the local socio-economic development. At that time, Becamex IDC was assigned to control over investment of Highway 13 under the Build-Operation-Transfer (BOT) form. This was also the country’s first traffic work built and tapped by socialization of investment capital.

Laborers at State-run businesses are always created favorable conditions to work effectively

Apart from upgrading Highway 13, Becamex IDC also got involved in building DT743 street connecting newly-developed industrial parks (IPs) with cities, airports and seaports in the region, helping businesses to save time and money for better development…

Other reason helping Binh Duong reach rapid growth in investment attraction amid difficulties in terms of investment capital was the vision and responsibility of leaders of State-run businesses. Particularly, Becamex IDC worked with its partners to develop telecommunication-power infrastructure systems at Thuan An town-based VSIP 1 in order to meet investors’ needs for development.

Responsibility for community

Huynh Cong Phat, Deputy General Director of Binh Duong (3-2) Import Export-Production Corporation said: “Many people said that State-run businesses are the happiest because of having no competitiveness. In fact, since being established, we have made efforts to surmount difficulties, challenges in terms of capital, consumption market and responsibility for the society. The rate of jobless in young people in Binh Duong in general and Thuan An in particular was very high in the initial period of the province’s reestablishment. State-run businesses together with joint venture companies generated jobs for laborers, contributing to quickly making the shift of economic structure, promoting the local socio-economic development.

In the period of 2001-2005, Binh Duong spent more than VND45.54trillion on infrastructure development, 1.6 times higher than the period of 1997-2000. Some big works like provincial industrial-service-urban complex, Dinh Bo Linh market, Phu Cuong park, Thuan An Hoa historical relic site…were carried out by State-run businesses and their partners. Whilst, others like Binh Duong Avenue, inter-provincial streets DT745, DT743…also contributed to reshaping the province. All infrastructure works and others invested by State-run businesses created a driving force for the province to gain robust growth over the past time.

Reported by Duy Chi-Translated by K.T