High accuracy production of machine equipment line is working at Finecs Corporation In 2012 specifically, industry-service-agriculture holds ratio of 62-34.2-3.8 percent of the economic structure. Income per capita reached VND 44.2 million a year. Industrial production value was estimated to reached VND 140,660 billion with USD 1.2 billion of export revenue and VND 2,923 billion of agricultural production value. The retail activities were valued at VND 75,145 billion.The leading production sectors of Binh Duong Province include woodwork, shoes making, textile, rubber latex, and handicraft.The trade promotion has enabled 1,725 exporting enterprises to sell goods to 193 nations and territories. Comparing to the years of 2001 to 2005, the Binh Duong-based enterprises have expanded market to additionally 93 nations and territories.The achievements were thanks to global integration. Using potientials as well as favorable and flexible policies to lure investments, Binh Duong Province succeeded in improving Provincial Competitive Index (PCI) to relatively high position comparing to other provinces nation wide.Challenges remainedSteering Board of Global Economic Integration asserted that Binh Duong Province was still facing risks and challenges although they met the targets of development.Industrial production value grew strongly but risks and challenges remained.Inflation, fluctuating production prices, bank interest rate, and tightened monetary policies have directly influenced on production and business of small and medium enterprises (SMEs).As reported by the province, up to 600 SMEs have been postponed and stopped due to difficulties.Provincial economic structure was transiting in proper trends; however, sectorial transition was slow without efficiency of production and competitiveness. Investment environment and production progressed but failed to attract bigger investors of modern production technology.Capacity and quality of agricultural production were low while zone of high-tech agriculture were sluggishly established.Researching competence, information, forecasting, and responding to the market at micro and macro level failed to meet the development demands.Facilities, equipment, and human resources failed to meet developmental demands while usage of facilities stayed low.So as to promote the ‘legacy’ of 6 years of integration as well as to overcome the shortcomings, Deputy Chair of Provincial People’s Committee, Mr. Tran Thanh Liem demanded the sectors to facilitate coordination of integration in tendancy of creating attractive investment luring channel combined with vocational training.Reported by Bao Anh – Translated by Vi Bao
Achievements gained, challenges remained
Implementing decision and policies for reforms and integration into global economy of the Party and the State, Binh Duong provincial authority has boosted up economic development of the province in more sustainable manner.High achievements in integration stageIn the period of 2007-2012, GDP of the province was at averagely 13.55% growth or double the national rate of 6.07% a year or the rate in 2006 of price comparison. High accuracy production of machine equipment line is working at Finecs Corporation In 2012 specifically, industry-service-agriculture holds ratio of 62-34.2-3.8 percent of the economic structure. Income per capita reached VND 44.2 million a year. Industrial production value was estimated to reached VND 140,660 billion with USD 1.2 billion of export revenue and VND 2,923 billion of agricultural production value. The retail activities were valued at VND 75,145 billion.The leading production sectors of Binh Duong Province include woodwork, shoes making, textile, rubber latex, and handicraft.The trade promotion has enabled 1,725 exporting enterprises to sell goods to 193 nations and territories. Comparing to the years of 2001 to 2005, the Binh Duong-based enterprises have expanded market to additionally 93 nations and territories.The achievements were thanks to global integration. Using potientials as well as favorable and flexible policies to lure investments, Binh Duong Province succeeded in improving Provincial Competitive Index (PCI) to relatively high position comparing to other provinces nation wide.Challenges remainedSteering Board of Global Economic Integration asserted that Binh Duong Province was still facing risks and challenges although they met the targets of development.Industrial production value grew strongly but risks and challenges remained.Inflation, fluctuating production prices, bank interest rate, and tightened monetary policies have directly influenced on production and business of small and medium enterprises (SMEs).As reported by the province, up to 600 SMEs have been postponed and stopped due to difficulties.Provincial economic structure was transiting in proper trends; however, sectorial transition was slow without efficiency of production and competitiveness. Investment environment and production progressed but failed to attract bigger investors of modern production technology.Capacity and quality of agricultural production were low while zone of high-tech agriculture were sluggishly established.Researching competence, information, forecasting, and responding to the market at micro and macro level failed to meet the development demands.Facilities, equipment, and human resources failed to meet developmental demands while usage of facilities stayed low.So as to promote the ‘legacy’ of 6 years of integration as well as to overcome the shortcomings, Deputy Chair of Provincial People’s Committee, Mr. Tran Thanh Liem demanded the sectors to facilitate coordination of integration in tendancy of creating attractive investment luring channel combined with vocational training.Reported by Bao Anh – Translated by Vi Bao
High accuracy production of machine equipment line is working at Finecs Corporation In 2012 specifically, industry-service-agriculture holds ratio of 62-34.2-3.8 percent of the economic structure. Income per capita reached VND 44.2 million a year. Industrial production value was estimated to reached VND 140,660 billion with USD 1.2 billion of export revenue and VND 2,923 billion of agricultural production value. The retail activities were valued at VND 75,145 billion.The leading production sectors of Binh Duong Province include woodwork, shoes making, textile, rubber latex, and handicraft.The trade promotion has enabled 1,725 exporting enterprises to sell goods to 193 nations and territories. Comparing to the years of 2001 to 2005, the Binh Duong-based enterprises have expanded market to additionally 93 nations and territories.The achievements were thanks to global integration. Using potientials as well as favorable and flexible policies to lure investments, Binh Duong Province succeeded in improving Provincial Competitive Index (PCI) to relatively high position comparing to other provinces nation wide.Challenges remainedSteering Board of Global Economic Integration asserted that Binh Duong Province was still facing risks and challenges although they met the targets of development.Industrial production value grew strongly but risks and challenges remained.Inflation, fluctuating production prices, bank interest rate, and tightened monetary policies have directly influenced on production and business of small and medium enterprises (SMEs).As reported by the province, up to 600 SMEs have been postponed and stopped due to difficulties.Provincial economic structure was transiting in proper trends; however, sectorial transition was slow without efficiency of production and competitiveness. Investment environment and production progressed but failed to attract bigger investors of modern production technology.Capacity and quality of agricultural production were low while zone of high-tech agriculture were sluggishly established.Researching competence, information, forecasting, and responding to the market at micro and macro level failed to meet the development demands.Facilities, equipment, and human resources failed to meet developmental demands while usage of facilities stayed low.So as to promote the ‘legacy’ of 6 years of integration as well as to overcome the shortcomings, Deputy Chair of Provincial People’s Committee, Mr. Tran Thanh Liem demanded the sectors to facilitate coordination of integration in tendancy of creating attractive investment luring channel combined with vocational training.Reported by Bao Anh – Translated by Vi Bao
