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Vietnam has been greatly affected by the global economic downturn since 2008. In this context, southern Binh Duong province has made timely adjustment by flexible and effective measures, helping it further reach robust growth.

 Good signs

 Since 2008, the prolonged global economic downturn has greatly influenced Vietnam’s economy. Price fluctuations, high inflation…were big hindrances for the completion of the Resolution of the 8th provincial Party Congress and the province’s socio-economic development plan for the 2006 and 2010 period.

 However, thanks to the integral efforts of the local people and government, Binh Duong’s economy has seen recovery and gained stable growth since 2010. The province’s total GDP in 2010 increased by 14.5% compared to 2009’s same period. Of these, agriculture-forestry-fishery sector rose by 2.2%. Industrial and construction sector surged by 11.1% while services saw increase by 23.9%.

Investors having a look at the miniature of the Binh Duong new city

The province’s economic structure in 2010 was 63% in industrial manufacture, 32.6% in services and 4.4% in agriculture and has continued shifting towards the growth of industrial manufacture and services. The average income per capital in the province reached VND30.1mln.

 The province’s investment for industrial development has still continued maintaining stability with 28 industrial parks, including 24 in operation. The province has also basically fulfilled infrastructure investment, developed training-education system; trained hi-quality human resources; well realized the task of taking care of the lives of social policy beneficiaries…

 Decisive factors

 To achieve the above remarkable results, Binh Duong has resolutely implemented the Central directives on stabilizing macroeconomics and ensuring social welfare. The province’s industrial production value last year was estimated at VND105,923bln, up 20.5% compared to 2009. The province also absorbed additional 170 businesses, including 90 FDI ones…

 The province’s current tasks under the Government’s directive are to curb inflation, stabilize macroeconomics and ensure social welfare. The province has also stuck close to this directive by a lot of concrete action programs.

It is known that the province’s objectives for 2011 and the next years are to focus on developing the Binh Duong new city and satellite cities; promote hi-tech services, banking system; mobilize all resources for development investment; improve the quality of human resources to meet the demands of the local socio-economic development...

 “Overcoming difficulties and challenges, our province has fulfilled important and basic premises for Binh Duong city’s all-round development in the future”, Mr.Cung stressed.

Reported by Ngoc Trinh-Translated by K.T