Industrial manufacture further affirms its main role in economic development

Despite disadvantages, industrial manufacture continued asserting its main role in economic development of Binh Duong over the past nine months.

Promoting growth impetus

Over the past nine months, Binh Duong continued reaching stable growth in terms of industrial production and was among the country’s top 5 localities in index of industrial production with a 9.5% increase compared to the same corresponding last year. Noticeably, processing industry grew by 9.7%; production and distribution of power and gas by 9.9%; mining industry by 3.5%. The output of some main projects of the province on footwear, electronics…also gained high growth against the corresponding period.

Production of PepsiCo Vietnam Foods Co.Ltd. at TDM city-based Song Than 3 industrial park

The whole province is now home to 28 industrial parks and 11 industrial compounds with well-built infrastructure. Since early this year, they have absorbed 110 new projects with a total registered capital of more than US$1billion and 52 extra-ones with US$674million…

Raising value

Up to 24 out of 28 groups of the province’s main industrial products over the past nine months reached growth compared to the same period last year. Among them, there were 4 groups with growth at over 10%.

Some industries with high growth against the same period last year included medal production (up 14.96%), leather production (up 15.11%), electrical equipment production (up 17.05%)…This was seen a good sign for industrial sector of the province as the province continued upholding its strong points in spearheading industries.

Nguyen Van Huu, Deputy Director of provincial Department of Industry and Trade said that the province’s industrial manufacture over the past time reached great progress. The province attached special importance to fostering this main economic sector. More importantly, hi-tech industries upheld their effectiveness, significantly contributing to the growth speed and absolute value of the whole sector.

Most domestic and foreign projects in the province focus on industrial manufacture. This has helped industrial manufacture reaching in-depth development, contributing to promoting the local urban, trade and services development.

In the coming time, the province will further give priority to promoting hi-tech industries and auxiliary ones while calling for businesses to make investment and production-business expansion. This aims to step by step victoriously realize the set targets on socio-economic development and contribute to enhancing Binh Duong’s “industrial” trademark, further absorbing investment projects at the local development needs in the new period.

Reported by Khanh Vinh-Translated by K.T