During the past years, Binh Duong initiatively applied the central policies on international economic integration into the local situation in order to effectively maximize the benefits, potentialities, domestic and overseas resources pushing up the province’s sustainable economic development and rapid international integration. 

During the integration process, Binh Duong has attached special importance to luring hi-tech projects. In picture: Car electric wire being manufactured at Yazaki Eds Vietnam in Di An town

Deep and wide integration

In the 2007 and 2013 period, Binh Duong’s economic targets reached a high and continuous growth. Particularly, from 2007 to 2012, provincial GDP attained 13.55% in average while the national GDP reached only 6.07%.

Economic structure changed into the gradual acceleration of the service proportion. In comparison with the year of 2006, service, industry and agriculture sectors increased respectively 201.08%, 62.64% and 10.98%.

Binh Duong has so far developed 28 industrial parks and 8 industrial compounds with a total area of 8,958.4 hectares together with an industry-service-urban with 4,196 in total. As of late 2013, the province absorbed 15,050 domestic enterprises with a total investment capital of VND117.413trillion and 2,209 FDI ones with a total investment capital of more than US$18.7bln.

Thanks to trade and invesment promotion well realized, the whole province has so far had 1,725 enterprises exporting their products into 193 countries and territories, up 93 in comparison with the 2011-2005 period. The province’s main export markets were still the US, EU, Japan, China, South Korea…Woodwork, footwear, garment & textile, rubber and fine art and handicrafts remained to be the province’s main export products.

In recent years, with its favorable investment climate, Binh Duong province has been always ranked in the high class in provincial concurrence index (PCI) compared to the 63 cities and provinces throughout the nation and become one of the cities and provinces belonging the best and good management groups.

Sustainable development

To further bring into full play the province’s achievements and redress shortcomings after seven-year integration, provincial People’s Committee Vice-Chairman Tran Thanh Liem instructed: “The local sectors need to have a better coordination in international economic integration, investment attraction, human resource training and talent attraction; strengthen investment into spearhead industries; expand multilateral coordination based on self-control and independence; prevent harmful aspects in the integration process…”.

According to provincial Committee for International Integration, the province’s orientations for integration till 2015 are to further accelebrate investment marketing for hi-tech industries; restructure the local industrial manufacture towards improving quality and competitiveness; create favorable conditions for the development of hi-tech industrial manufacture, promote auxiliary industries, enhance added values in production and business, promote industrial manufacture in association with urban and service development.

Upholding achievements done after seven-year integration plus existing advantages, Binh Duong’s Party, Government and people have tried to take measures for integration towards sustainable development, develop Binh Duong into a centrally governed city and one of Vietnam’s most modern cities by 2020.

Vo Van Cu, Director of provincial Department of Industry and Trade said that the department over time also supported enterprises to take full advantage of opportunities to promote production-business and human resources. Especially, the department organized 10 classes on knowledge relating to the commitments of Vietnam when joining WTO for cadres of mass organizations in the province, thereby helping seeking measures to promote export activities…

Whilst, Le Phu Hoa, Deputy Director of provincial Foreign Affairs Department said that the department over time acted as an advisor for provincial People’s Committee to successfully organize many trade promotion programs and meetings between provincial leaders, representatives of consulates, business associations and FDI enterprises, helping remove difficulties in production and business for better development…

Reported by Bao Anh-Translated by K.T