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Implementing the target of focusing on developing high-quality services to meet the requirements of industrial and modern development in the direction of civilization and modernization in 2021-2025 with a vision to 2025- 2030 to become an industrial center, along with the modern vision to 2045, Binh Duong province is heading towards a smart city of the region and the whole nation by the efforts to attract foreign investment (FDI) inflows and divert it into this field.

Along with industry, Binh Duong provincial trade and services are making great transformation. In this photo: Aeon Mall Binh Duong

Urbanization in the modern and civilized direction

Ever since 2016, by implementing Program No. 24/CTr/TU dated August 16, 2016 of Binh Duong provincial Party Committee, the service sector in the province continued to achieve positive results. The service sector continued to be restructured in a positive direction as its growth rate has reached 8.33% a year, making the proportion of 21.76% in 2016 increase to 22.69% in 2020.

Focusing on investment into important service infrastructure associated with urban development and smart cities to meet the increasing needs of people, a number of high-quality service industries with step-by-step potential formation and development have been launched. The financial, banking, e-commerce, housing, import-export, healthcare, education, information technology sectors and others continue to have strong development as their quality has improved, making important contributions to promote economic growth and to actively support industrial and urban development of the province.

It can be seen clearly that along with industry, the trade - service sector of the province is having positive changes for industry, urban, and education - training. In the direction of sustainable development along with attracting high technology and advanced production, the province will focus on restructuring the economy in the direction of promoting trade and high quality services. In which, priority has been set to services with high intellect content, e-commerce, financial investment, banking, innovative technology and so on.

To improve public life

After more than 20 years of attracting investment and developing industry, Binh Duong has achieved a lot of success, in which the third position of attracting foreign investment in the nation is just one example. However, according to experts, for sustainable development, especially for a breakthrough in socio-economic development, the necessary condition is to develop trade and services with many large projects. Opportunities will be increasingly expanded when Binh Duong, for the third time in a row, was honored as one of the 21 cities with the world's typical smart city development strategies.

Currently, 3 cities directly under the province: Thu Dau Mot city, Di An city and Thuan An city, have a lot of development potentials and are in need of a new breakthrough. In terms of service, urban, e-commerce and financial investment breakthroughs in technology, these three cities are the basis of smart urban planning. In which, the new city will continue as the nuclear role and the World Trade Center of Binh Duong New City which is being formed be a bright spot.

Up to date, many major trade names of countries have been present in Binh Duong with high-end amenities, meeting international standards and appearing more and more on a large scale such as Aeon, Lotte, MM Mega Market, Co.opmart (commercial field), Hanh Phuc International Hospital, Becamex, Columbia Asia Hospital (medical field), Viet Hoa international school system (Tan Uyen town), MMI Vietnam Kindergarten (Thuan An City), Viet Duc International University, Green Gate University on urban area of 626 hectares in Tan Uyen etc. This has confirmed Binh Duong's success in attracting strategic investments into commercial development, bringing about innovation in appearance and civilized image of the commercial activities.

In order to continue to attract investments effectively into high quality commercial services, the province has been implementing a series of solutions. Recently, due to the influence of the Covid-19 epidemic, the province has actively organized online investment promotion conferences with investors from Japan, Korea, Australia, Italy, Thailand, and India so as to continue attracting high-quality FDI inflows. Particularly in the first 2 months of 2021, Binh Duong has attracted over USD 200 million into real estate, warehousing and storage, transportation assistance, and management consulting (accounting for 55.41% of the total registered investment capital).

In addition to a number of projects that are urgently deployed, Central Retail Group (Thailand) has recently came to Binh Duong and wanted the provincial leadership to facilitate investment in a large-scale commercial center after the Covid-19 epidemic in Ben Cat town has a capital of more than USD 40 million. According to the leaders of Binh Duong provincial People's Committee, the proposal of implementing the Central Retail Group's project is in line with the development orientation of Binh Duong.

Reported by Ngoc Thanh – Translated by Vi Bao