Thanks to the efforts by the central and local goverment, Binh Duong’s economy in 2012 has reached positive results, especially in FDI attraction and export, despite obstacles in the current circumstance.
Export further rising up
Binh Duong’s export turnover in 2012 has reached more than US$12.13bln, up 16% compared to that of 2011. Of the total figure, the domestic investment sector has gained over US$2.2bln, up 3.5% while the foreign investment sector has gained over US$9.9bln, up 19.3% against that of 2011.
Woodwork still takes the lead in the province’s key export products
Up to 11 out of the province’s 15 key export products have achieved growth compared to the previous year. Noticeably, 3 key industries of footwear, garment & textile and woodwork have fulfilled their set targets in production and business. They have accounted for more than 35% of the province’s total export turnover. Particularly, woodwork industry’s export turnover in 2012 is estimated to reach US$1.52bln, up 5..5%; garment & textile, US$1.47bln, up 2.7%; footwear, over US$968mln, up 6.8%.
Also in 2012, the province’s agro-fishery products and processed food have achieved a robust growth in export value. Particularly, export turnover of fishery products has grown by 16.8%; cashew nut by 43.7%; pepper by 28.7%; instant noodle by 12%; processed food by 39.5%.
The province has also obtained nearly US$9,94 in import value. The province’s excess of exports over imports has reached US$2.19bln, the highest figure so far. The result has helped Binh Duong become one of the country’s localities with the highest trade surplus.
According to provincial People’s Committee, the above results have come from the efforts of the central and local authority in taking measures to help promote the local production and business activities. Province-based enterprises have also made more efforts to effectively implemented their business and production activities.
Taking lead in FDI attraction
Binh Duong’s FDI attraction in 2012 has continued thriving with more than US$2.6bln in FDI capital flowing into the province.
Since early this year, the province has granted investment licenses to 106 FDI projects capitalized at nearly US$1.58bln and allowed 114 FDI projects to increase their investment capital by more than US$1bln. The result has brought the number of FDI projects herein to 2,117 with total investment capital of more than US$17.3bln.
Noticeably, province-based FDI enterprises have focused on high-tech industries with a great competitive ability. This is completely suitable to the province’s sustainable industrial development policy.
Provincial People’s Council said that thanks to infrastructure invested in a synchronous way, investment marketing promoted plus many other favorable elements, Binh Duong has exceeded the set targets in FDI attraction in 2012.
Reported by T.Minh-Translated by K.T
