Under the Resolution of the local Party Committee, People’s Council on the 2016 socio-economic development, national defence-security tasks, Bau Bang district continued reaching stable economic growth. Noticeably, the district saw robust growth in terms of industrial manufacture.
Industrial manufacture beyond the yearly plan
In 2016, under the efforts by the local authorities at all levels and business community, Bau Bang district’s economy continued obtaining stable growth with industrial production value estimated at more than VND9.67trillion, up 15.1% of the year’s plan.
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Starting construction of the Bau Bang Urban and Industrial Park created a motivation for the district to absorb investment projects for the local urban, trade-services development. In picture: Provincial leaders at the groundbreaking ceremony for construction of the Bau Bang Urban and Industrial Park
Le Khac Tri, Chairman of the district’s People’s Committee said that implementing the 2016 local plan on socio-economic development, national defence-security, the district’s People’s Committee set up a variety of flexible and effective programs to absorb investors. Especially, starting construction of the Bau Bang Urban and Industrial Park was a motivation for the local development.
Regarding investment, the district attracted 84 projects, comprising of 73 domestic projects and 11 foreign ones. Thus, the district has to date absorbed 382 domestic projects with total registered capital of more than VND22.68trillion and 73 foreign ones with total registered capital of more than US$1.29billion.
To achieve the above-mentioned results, along with projects implemented, signing memoranda of understanding between Becamex IDC and TPP Investment of the U.S to establish a U.S-Viet industrial park or Becamex IDC and major enterprises to develop a specialized park for production of bicycles and components…also contributed to promoting the local industrial manufacture.
Whilst, the district’s total retail sales of commodities and services in 2016 reached more than VND2.23trillion, up 22.12% against 2015. The district’s agricultural production value was estimated at more than VND1.73trillion, up 5.6% compared to 2015.
Infrastructure construction to be promoted
As planned, the district’s industrial production value in 2017 will increase by 15%-17%. To achieve this target, the district will bend on creating a favorable investment climate for investors; further reform administrative procedures, especially in the field of granting investment licenses…The district will also strengthen overall planning on socio-economic development, adjustment of land use planning, infrastructure investment…
According to Mr.Tri, the district will further boost compensation and site clearance to complete projects, namely the My Phuoc-Bau Bang main street, the expanded Bau Bang urban-industrial park, the 220-KV transformer station…, perfecting the local infrastructure and clean land fund to absorb more investors.
Such these apart, the district will mobilize all resources to make investment in the fields of banking-finance, healthcare, education… at locals and investors’ needs. The district will also restrict investment projects with high risk of environmental pollution, those using a large number of unskilled laborers or outside the local industrial park with a small scale.
Reported by Hoang Pham-Translated by K.T
