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A glance of the My Phuoc industrial-urban area in Ben Cat district

Over the past years, Binh Duong’s economy made many breakthroughs to become one of the localities with the highest growth in the country, especially in fields of industrial infrastructure, exports and investment attraction…

 

Industrial manufacture takes lead

 

Provincial economy over time reached high and comprehensive growth with the annual GDP growth rate of more than 15%. The province’s economic structure always shifted towards the growth of industrial manufacture.

 

Industry manufacture has so far accounted for 63% of the province’s economic structure. In the first seven months of 2010, industrial production value reached more than VND54.9trillion, up 18.8% compared to the same period last year. It is expected that the province’s industrial production value in 2010 will achieve around VND105trillion, up 20.1% compared to the corresponding period last year.

 

The province also attached special importance to mobilizing all forces to develop industrial infrastructure. So far, the whole province has had 28 industrial parks (IPs) with 8,979 ha in total, 24 of which have been put into operation and 60% of which have got 80% or 100% of the land tenancy ratio. Province-based Ips have also absorbed more than 1,200 businesses in and out of the country, contributing to promoting the local industry towards sustainable growth.

 

Exports, investment on sharp growth

 

With the current value of more than VND8bln and the annual growth of 22%-3-%, the province’s export sector has greatly contributed to the national economy. The local sector has so far expanded its market into 180 countries and territories in the world.

Along with export sector, the province has made success in investment attraction. The whole province has so far lured 9,012 domestic investment projects and 1966 FDI ones with total registered capital of more than VND60.723trillion and more than US$13.3bln, respectively.

 

Noticeably, the province has absorbed many big-sized FDI projects, including Kumho Asiana Corp.’s tyre project with a total investment capital of US$360mln, SCG Siam Cement Corp.’s package project with US$140mln in the first phase, Kirin Acecook Vietnam Co.’s soft drink factory capitalized at US$60mln…Province-based businesses have also focused on developing products with high technologies and good competitiveness.

 

Efficiency from right direction

 

Thanks to upholding its advantages and specifying development strategies, the province has been proud of its industrial manufacture with strong and sustainable development.

 

The province now works out many vital works, comprising of the Binh Duong new city, the My Phuoc-Tan Van highway…With optimistic premise, good preparation and consensus among people, it is believed that the province will be worthy of being an industrial city in the future.

 

Reported by Trong Minh-Translated by K.T