Despite the impacts of the global economic downturn, Binh Duong has managed to creatively apply central policies on international economic integration into the local real situation, effectively tapped potentials and resources at home and abroad, promoting the local economy with sustainable international integration…
Taking the lead in int’l economic integration capability
Binh Duong’s targets on economic development reached growth in the 2007-2013 period. From 2007 to 2012, the province’s GDP growth rate was 13.55%, the double of the national GDP growth rate.
With an economic structure with 65.5% of industry, 30% of services and 4.5% of agriculture, Binh Duong is now home to 28 industrial parks and 8 industrial compounds with a total area of 9,958.4 hectares together with an industrial-services-urban complex of 4,196 hectares, absorbing 11,589 domestic enterprises capitalized at VND88.589trillion and 2,041 FDI ones with a total investment capital of US$14.364mln.
Thanks to trade promotion well implemented, the whole province has so far had a total of 1,725 enterprises exporting their products into 193 countries and territories, up 93 compared to the 2001-2005 period. Their main export markets are mainly U.S, EU, Japan, China and South Korea. Woodwork, footwear, garment-textile, rubber latex, fine art and handicraft are their export main industries.
According to a report by the National Committee for International Economic Cooperation released by the end of 2013, Binh Duong ranked third in global economic integration capability, only after HCM city and Ha Noi capital.
Measures for sustainable development
To further uphold achievements done after 7 years of international economic integration and redress shortcomings in the task, Tran Thanh Liem, Vice-Chairman of provincial People’s Committee conducted: “The local functional sectors need to have better coordination in terms of international economic integration, investment attraction, human resource training, investment for spearheading industries; expand multilateral cooperation on a peaceful and self-control basic; prevent wrong sides in the process of international economic integration, ensuring sustainable development”.
For sustainable development, the National Committee for International Economic Cooperation has mapped out orientations till 2015, including further boosting investment marketing for hi-tech industries, restructuring industrial manufacture towards the growth of quality and competitiveness in the process of international economic integration; creating favorable conditions for the development of hi-tech industries and auxiliary ones, enhancing added value in production and business, promoting industrial manufacture in association with urban and services development…
With achievements done after 7 years of international integration process plus existing potentials, Binh Duong’s government and people have made efforts in taking measures on international economic integration for sustainable development, actively developed the locality into a centrally-controlled city and one of Vietnam’s most modern cities by 2020.
Reported by Bao Anh-Translated by K.T
