After 5 years of implementing resolutions of the 8th provincial Party Congress (2005-2010), local economy keeps on growing with the increase in service density, stability in industry density and decrease in agriculture density. Investment attraction has exceeded the proposed goals and infrastructure structure has been invested modernly.
local industrial products rapidly increase both tech content and competitive capacity.
Rapid increase in industry
In the period of 2005-2010, the provincial industrial production value surged 19.7% per year, double from 2005. Of this, domestic economic sector accounted for 36% and foreign economic sector amounted 64%.
Industry growth keeps on stably developing in Southern area and gradually surging in Northern area of the province. Despite difficulties in 2008-2009, local industrial production remained stable with the high growth pace, accelerating development for other areas.
To reach this result, many projects, programs, development plans for industrial parks and compounds and so on have created positive changes in investment attraction, export turnover and budget collection increase. Meanwhile, handicraft industry has been interested and assisted.
Besides, the province has paid much attention to developing industrial parks. To date, aside 15 IPs, the locality has developed 13 more ones, lifting IPs up to 28 covering on an area of over 8,000 ha, double from 2005. 24 IPs have so far been under operation with more than 1,200 businesses, 1.8 times from 2005. Along with IPs, the locality has set up 9 industrial compounds on an area over 650ha.
To develop in the coming years, the locality has so far added planning project of IP development till 2015 and orientations till 2010. Binh Duong industry-urban-service complex alone has completed site clearance, resettlement areas. The complex’s 6 IPs has been put into use.
Service, trade, import-export thriving
The local service development program for the 2006-2010 period has boosted service development with the participation of economic sectors. Service GDP reaches an average rise of 23.6% per year, exceeding the proposed resolutions. Programs of e-commerce development, competition enhancement, “Vietnamese people use Vietnamse products”, “bringing Vietnamese products to rural areas” and so on have been effectively implemented. Service areas of water supply, telecom, transport, tourism, finance, banking, insurance, IT, vocational training and job introduction and so on have been developing. Total retail and service turnover have surged 32.3% per year, four-fold from 2005. Many large-scaled supermarkets, trade centers and rural markets have been invested, contributing to boost trade development.
The highlighted thing in the 2005-2010 period is that local export turnover reached an average rise of 22.4% per year, 2.75-fold from 2005. Export items account large growth including timber, footwear, garment, rubber, handicraft, and electronics.
The local export markets have been expanded with 180 nations and territories, up 30 nations from 2005. The local administration has launched trade promotion programs and supported businesses to develop markets, contributing to build the Binh Duong trademark.
Reported by T.Binh – Translated by A.C
