Part 2: Various measures implemented

In recent years, Binh Duong Province has outstanding steps of development in the stage of international integration. Accordingly, provincial economic structure has been in rightful transition with continuous and improved production, foreign investment and surplus exportation. In 2016, investment and trade promotion along with market expansion, foreign trade cooperation, infrastructure development, and environment protection has been promoted to gain major outcomes and promote development of local economy.

Momentum of investment luring created

To gain such achievements, Binh Duong Provincial authority, annually, received senior delegations and economic groups of nations in the world in their visits of investigating investment environment. Those activities have promoted friendly relationship and expand commercial operations and investment cooperation to make use of local potentials and strength. Up to date, 59 nations and territories have dispatched their investment projects into Binh Duong Province.

Besides, Binh Duong Province has organized various workshops on investment promotion in major markets such as USA, Canada, Japan, Republic of Korea, Germany, etc. To facilitate investment luring, the province has issued investment certificates to enable 2,849 foreign investment projects of US$ 25.8 billion. Meantime, 25,671 domestic enterprises have registered for investment of VND 190,000 billion.

As for foreign trade promotion programs, in the last year, Binh Duong Province organized 6 enterprise delegations to visit international exhibition of furniture in Singapore; to organize meeting of Binh Duong Association of Lacquer and Sculpture and Vietnamese Commercial Affairs in Singapore regarding the taste and needs of Singaporean market for interior decorative items, lacquer, sculpture, and environment-friendly products. For the time, importing and exporting trade of the province have been stable. In 2016, Binh Duong Province eyed surplus exportation of over US$ 4 billion. The traditional exporting markets of USA, EU, Republic of Korea, Japan, and ASEAN have been enhanced and maintained with relatively good growth. Concurrently, free trade agreements have brought about practical benefits, opening up opportunities for provincial enterprises to penetrate new markets of Africa and the Middle-East.

Joining international integration, various economic sectors of Binh Duong Province have been promoted and thereon, provincial economy has been developed. In this photo: Production activities are being carried out at ProActive Global Vietnam Co. Ltd. in Dai Dang Industrial Park of Thu Dau Mot City. Photo by Phuong Le

Tourism promotion and introduction have also been promoted by tours to major markets of China, ASEAN, Japan, USA, and EU. In the last year only, total visitors to Binh Duong Province have been about 4.39 million turns, increased by 4.5% higher than previous year, of which, 180,000 turns are international visitors.

The efforts of promoting investment, trade, tourism, and international cooperation have helped Binh Duong to achieve all 27 socio-economic development criteria in 2016 as proposed by Provincial Party Committee and Provincial People’s Council.

Foundation for enhanced integration

For the years, Binh Duong Province has been in leading position of infrastructure against other provinces and cities nationwide. The strong development and infrastructure of breakthroughs have become the foundation for socio-economic development of the province for deeper and wider integration into global economy. Up to date, in the province, 28 industrial parks of 10,560 hectares have been occupied by 69.5%. And, 10 industrial parks of 707.8 hectares have been occupied by 61.5%. It is expected that by 2020, Binh Duong Province would have 34 industrial parks of 14,790 hectares which would be favorable for investments, industrial development, services, and urban quality for the time to come.

In the meantime, the major traffic routes affecting economic development of the province such as Pham Ngoc Thach Street, DT744 Street, My Phuoc – Tan Van Highway, etc. have been well made use of. Those constructions shall create refined traffic system with high connection to provinces and cities in the major economic zone of the South. Besides, investments shall be intensified for passenger transportation services and telecommunication infrastructure so as to promote local economic development.

Positioned in favorable location, Binh Duong has become a significant joint to provinces and cities including Tan Son Nhat International Airport, Long Thanh 2 Airport, Cai Mep Sea Port, and Cat Lai Port to Mekong Delta and the high land. An unnamed representative of Provincial Department of Industry and Trade informed that Binh Duong has potentials for development of logistics. Currently, in the province 2 ICD of Song Thanh and Di An Logistics Center are active for supplying 4 major services of loading/unloading, container preservation, storage, and customs. Besides, other enterprises are supplying logistic services to inner and outer enterprises of the province.

Reported by Phuong Le – Translated by Vi Bao

Part 2: Various measures implemented