Urban development and economic acceleration

After more than three years of implementing the Resolution of the 11th Provincial Party Congress, term 2020-2025, Binh Duong urban area that has been developing towards the direction of green, civilized, modern, smart, and the synchronous technical infrastructure has created a "launching pad" to stimulate sustainable economic growth.

 Binh Duong urban area is invested and developed in a green, civilized and modern direction. In photo: A corner of Binh Duong new city

 Build synchronous and connected infrastructure

Over the past years, Binh Duong has continued to pay attention to reviewing, adjusting and supplementing urban planning and construction planning in accordance with the socio-economic development situation of the province. The urbanization rate of the whole province has reached 84% (equivalent to developed industrial countries), the average housing area per capita was estimated to reach 31m2/person by the end of 2023. Urban development is accompanied by industrial development, forming "green and clean" industrial parks, residential areas for workers with full technical infrastructure, social infrastructure and cultural institutions are being developed in by Binh Duong.

In addition, the province has directed adjustments to local planning, adjusting high-rise buildings in some locations to carry out social housing and commercial housing construction projects, ensuring the compliance with legal regulations to meet the need for settlement of workers and people having difficult circumstances. Currently, the province is implementing provincial planning and adjusting general planning of districts and cities. In addition, the province is planning to subdivide urban development areas to serve investment in Ho Chi Minh City Ring Road 3, Ho Chi Minh City Ring Road 4 and Ho Chi Minh City - Chon Thanh Expressway with 27 urban development areas (total area of 18,077 hectares).

At the same time, Binh Duong has been investing in upgrading and developing socio-economic infrastructure, prioritizing appropriate resources for transportation, urban embellishment, and public water supply and drainage. Determining that public investment is an important political task, promoting local economic growth, Binh Duong resolutely restructures the public investment sector. The province allocates public investment capital for key projects, regional connecting projects to create new development space, exploits the maximum potential and advantages of the locality, and avoids the situation of scattered investment, spreading out.

Industrial parks in Binh Duong have synchronous, connected, and clean infrastructure

Binh Duong has promoted socio-economic development cooperation, inter-regional traffic connectivity with provinces and cities; focused on building infrastructure, proactively coordinated with provinces and cities in the Southeast region to speed up the progress of site clearance and start construction of key transportation projects. Provincial leaders have drastically directed to speed up the construction progress of key transportation projects, such as: Ring Road 3 of Ho Chi Minh City, Ring Road 4 of Ho Chi Minh City, Ho Chi Minh City - Chon Thanh Expressway, expansion of National Highway 13, Bach Dang Bridge 2...

To stimulate socio-economic growth

Along with investing in building synchronous infrastructure, connecting and implementing investment incentive policies, the province has exploited its potential and advantages, creating favorable conditions to mobilize investment resources for socio-economic development of the province. In the period 2020-2023, investment capital for social development increases by an average of 8.3%/year, accounting for 33% of total product in the province (Resolution 33 - 34% of GRDP). Industry continued to maintain a high growth rate and plays an important role in promoting the development of other industries and sectors of the economy. The index of industrial production (IIP) maintained growth at a good level, with an average increase of 6.1%/year in the period 2020-2023, forecast at the end of the term to reach 8.5%.

The average growth rate of the service industry in the period 2021-2023 reached 6.89%/year. The province's investment attraction continued to achieve many encouraging results, in the 2020-2023 period attracting foreign investment reached 9.56 billion USD, estimated to reach 13.2 billion USD by the end of the term (Resolution over 9 billion USD), attracting domestic investment of 248,040 billion VND. The average total State budget revenue in the province in the period 2020-2023 was 66,481 billion VND, an increase of 2.1%/year, the average estimated implementation until the end of the term was 69,760 billion VND, an increase of 4.4%/year (Resolution 8%/year). The average total state budget expenditure for the period 2020-2023 was estimated to reach 37,348 billion VND, the average estimated implementation until the end of the term was 33,244 billion VND.

 Reported by Phuong Le - Translated by Ngoc Huynh