Binh Duong determines that industry continues to be the key sector of the economy, the province has many policies prioritizing industry to shift the economic structure appropriately. The province's socio-economic in recent years has gained great achievements, the economic structure has changed strongly in the direction of industry - service - agriculture, the face of urbanization has become clearer.
Industry developed on the right track and continued to be the main sector of the economy. In photo: Manufacture at Thien Nam Investment and Development Joint Stock Company in Di An City.
Leverage for development
According to the data of Provincial People's Committee, before 1997, when it was still Song Be province, the economic structure of industry - service and agriculture was 50.45% - 26.8% - 22.8% respectively. Although the industrial production value accounted for 50.45%, it reached about 4,000 billion VND, mainly encapsulated in light industr and handicrafts. Up to now, Binh Duong has grown tremendously with economic targets dozens of times higher than at the time of re-establishment. Specifically, in 2020, industry and services played a leading role in economic structure of the province, the proportion of industry - services - agriculture - import tax minus product subsidies was 66.94% - 21.98% - 3.15% - 7.93% respectively.
To achieve this result, right from the re-establishment of the province, Binh Duong has soon focused on developing a synchronous transport system, building infrastructure of industrial parks (IPs) combined with urbanization. It was the establishment of IPs that helped the province's industry made breakthrough, created a foundation for trade - service and urban development. The entire province has 29 industrial parks, total area of 12,721 hectares, land leasing rate reaches 84.4%, and 12 industrial clusters with a total area of nearly 790 hectares, land leasing rate reaches 67.4%. Binh Duong has been and is one of the leading regions in the country in industrial production. The province's industrial zones, with synchronous and modern infrastructure, and convenient geographical locations, have attracted many large enterprises and multinational corporations to invest.
Bùi Minh Trí, Head of Management Board of Provincial Industrial Parks, said that industry continues to be the key development sector of the province.
In the coming period, the province's investment attraction will be carefully selected to get high-tech, clean technology projects that use less labor and have high added value. Industrial zones in the province continue to improve their land planning and better technical infrastructure to welcome the wave of FDI investment inflow in the new period.
Growth engine
Throughout the tenures, Binh Duong has had many policies prioritizing industrial development. Up to now, Binh Duong is the leading industrialized locality in the country. The economy continued to maintain a high growth rate, GRDP reached 151 million VND/year, among the highest in the country. The industrial production index increased by an average of 9.33% per year; industrial development was in the right direction and continued to be the key industry of the economy, creating a driving force for urban, trade and service blooming in the area. The structure of the industry has changed favorably; the supporting industry has developed, been accompanied by value chain linkages of multinational corporations, gradually stimulating the industrial growth, the application and innovation of advanced technolog.
In 2020 and over the first months of 2021, when the economy was greatly affected by the pandemic, Binh Duong still successfully completed the "double task", giained high economic growth, people's confidence strengthened. Some solutions proposed by the province were implemented quickly and comprehensively, with the goal of ensuring the highest safety for the people and being consistent with the set growth goals. Over the first 5 months of 2021, industrial production index of the province still maintained a high growth momentum, estimated to increase by 8.04% over the same period last year, continued to show a key role in provincial socio-economic development.
Nguyễn Thanh Toàn, Director of Department of Industry and Trade, said: “In order to further develop the industry, the province will continue to prioritize supporting industries, processing and manufacturing industries, supplying raw materials and accessories, heightening localization rate for industrial products. Binh Duong will also develop a plan to gradually transform the functions of industrial zones and clusters in the south, move industrial production facilities from the south to the north of the province in accordance with the development planning".
Nguyễn Hoàng Thao, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee: Although there were many difficulties, Binh Duong's economy in recent years has sustained a good growth rate, and people's living standards have been improved both physically and mentally. Binh Duong is becoming one of the leading provinces in economic development; industry continues to be the main development sector of the province. Binh Duong strives to become a major industrial center of the country by 2025, step by step become an industrial city of advanced and modern level.
Nguyễn Văn Hùng, Chairman of Board of Directors of Becamex IDC Corporation: Binh Duong always takes industry as a foundation and a breakthrough, in which building infrastructure of industrial zones combined with urbanization is the key factors. Binh Duong has created a large "clean land" fund to develop industrial park infrastructure, creating good and effective IPs in the eyes of investors. Up to now, Binh Duong has developed 29 IPs, of which many IPs have become big brand names that attracted investment from large enterprises and multinational corporations. Since then, Binh Duong has expanded and shared the industrial park management model with many provinces and cities across the country under cooperation programs of Binh Duong with other provinces and cities.
Reported by Ngoc Thanh - Translated by Ngoc Huynh
