Over nearly 24 years of construction and development after the re-establishment, Binh Duong has made a robust transformation and become one of dynamic developing centers of the Southern key economic region. Following that development, goods made in Binh Duong have reached the international market.
Goods produced in Binh Duong are exported, and have step by step dominated the world market. In photo: Manufacture in Omron Company (VSIP 2 Industrial Park).
To firmly integrate
Binh Duong was ranked 3rd across the country in FDI attraction and domestic revenue, is one of the five provinces with the highest contribution rate to the Central budget, and one of the few localities always having the highest trade surplus rate. Over the past 20 years, commercial activities of Binh Duong have gained many remarkable results, making an important contribution to the socio-economic growth. Early economic integration helped Binh Duong expand export and import markets, creating favorable conditions for investment and product consumption.
During five years (2016-2020), industrial production index increased averagely by 9.64% / year, industrial size increased by 1.6 times compared to 2015 and accounted for 9.7% of the whole country's industrial production. Supporting industry has made initial development steps, is tied to value chain linkages of multinational corporations; to develop in-depth industrial production and manufacturing. Industrial parks are constantly being improved, upgraded, and expand its connections, meeting requirements to attract investors. The total export value in the past 5 years was estimated at 119,540 million VND, an average increase of 9.31% / year, an increase of 1.7 times compared to 2015, accounting for 10% of total export turnover of the country. The structure of export products has shifted towards increasing the proportion of processed industrial goods and developing the export of technological products. Import increased by an average of 10.86% / year, mainly raw materials, machinery and equipment for manufacture.
Many enterprises and industries have positioned their brands globally and put Binh Duong's products in favorite list of customers around the world. According to Ly Ngoc Minh, CEO of Minh Long 1 Company, with modern technology, mainly from Germany and Japan, Minh Long products have been strongly sold and exported to European countries, such as Germany, France, Japan, Netherlands, America. Products of Minh Long 1, after more than 30 years of construction, have been competing fairly with world famous brands that are hundreds of years old.
To Binh Duong Furniture Association, the extensive integration into international market has brought a strong position on the international market to the province's export wood processing industry. These key export companies have persistently carried out trade promotion activities, sought customers, and participated in major world's furniture fairs, such as fairs in the US, European countries, Japan and the Middle East. In addition, enterprises invest in technological innovation, modern machinery and equipment, automation and digitization to reach the goal of heightening the level of Binh Duong wooden furniture, dominating the world market.
To create all favorable conditions
According to experts, investment environment of the province is improved better and turns towards sustainable growth, which is an advantage for the development of import and export. Up to now, provincial sectors and fields with export advantages continue to be prioritized, such as electrical, electronic, mechanical, pharmaceutical sectors... Many investors are also interested in these fields and learned about investment opportunities.
To always working closely with the business community, Binh Duong administrative agencies have implemented various solutions to reform administrative procedures, helping import and export enterprises to save time and costs and be more convenient in customs clearance, tax payment; improve the efficiency of state management. According to leaders of Binh Duong Customs Department, the Department has enhanced the application of information technology, shifted to electronic administration. Most main customs procedures are processed automatically at all customs branches in the province.
In the urban development and construction process, the province attaches special importance to the conditions of technical and social infrastructure. With the motto "transport infrastructure goes ahead paving the way", the province strives to build essential transport infrastructure, concentrates investment in connecting industrial and urban development areas, creating favorable conditions for convenient transport of goods. Traffic axes connecting Binh Duong with other provinces and cities in the region receive much attention, such as My Phuoc - Tan Van - Bau Bang; Bau Bang - Phu Giao - North Tan Uyen; upgrade of National highway 13; DT743A, DT743B roads; Thu Bien - Dat Cuoc road...
With the potential for investment attraction, high growth rate of the economy, Binh Duong is a locality with the number of warehouses and transportation services accounting for over 51% of total supply of warehouses in Southern region - the region with the top total logistics supply in the country. Currently, the province is interested in developing logistics sector. Investment projects in logistics sector in Binh Duong province are increasingly larger in scale, high level of specialization, providing package and diversified services.
According to Mai Hung Dung, Permanent Vice Chairman of Provincial People's Committee, in the coming time, Binh Duong endeavor to collaborate with central ministries, branches and neighboring localities to execute projects of road traffic, railways and waterways having high regional connectivity, such as: Belt Road 3, 4; the project of dredging and clearing Saigon river, Dong Nai river etc. to create goods transportation and urban service connection. The province also drastically directs branches and municipalities to continue reviewing and improving the quality of planning, adjusting urban planning with a long-term vision, in line with new development conditions.
Reported by Tieu My - Translated by Ngoc Huynh
