Province supports enterprises in maintaning growth

Despite the impacts from Covid-19 pandemic, the province’s government, business community and people have always made efforts in maintaining the local economic growth, further absorbing more investment projects…

Return of growth orbit

As of October 2020, the province’s economy saw a sign of recovery with positive change. Many enterprises in the province have got access to support policies, making efforts in restoring production. So far, the province has implemented many support policies for the province’s main industrial groups, promoting the local industrial manufacture for better competition.

Province-based businesses have made efforts in surmouting difficulties, stablizing production. In picture: Adobe brick production of Water and Environment Joint Stock Company

The province’s index of industrial production over the past 10 months surged 6.77% compared to the same period last year. The province’s total retail sales revenue of commodities and services was more than VND208.1trillion, up 11.7%. The province’s consumer price index increased by 3.19% compared to the same period last year. The province’s export turnover was US$22.8billion, up 6.8% while import value was US$17.58billion, up 4.7%.

Also during the period, the province absorbed VND 59.49trillion in domestic investment capital, up 20.6% over the same period last year and nearly US$1.7billion in FDI capital. Noticeably, the province has lured additional 108 new investment projects capitalized at US$590million and 72 extra-ones with US$306million. The province’s FDI attraction has surpassed 19% of the year’s plan. As of now, the whole province has drawn 3,909 FDI projects totalling US$35.2billion.

For the rest of the year, Nguyen Hoang Thao, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee has asked for sectors, departments and localities to drastically carry out solutions for socio-economic development, aiming to further improve the local investment climate, luring many investment resources, thereby promoting the local sustainable and fast economic growth. In terms of development orientations, Mr.Thao affirmed that the province will continue making restructuring of economy with focus on the shift of agricultural structure based on investment attraction improvement, sci-tech application, hi-quality human resources; foster hi-quality services in line with the local urban and industrial development…

Efforts in infrastructure investment

The province has changed to the period of boosting innovation, associating industrial development with trade and hi-quality services in the journey of smart city construction. The province is also actively preparing for the development of projected industrial parks and the first sci-tech park in association with forming up Binh Duong smart and innovative area.

In the coming time, the province will further promote infrastructure investment, especially traffic, logistic infrastructure systems at enterprises’needs for development. The province’s streets need to be upgraded, having better connectivity with HCM city and Long Thanh airport. The province will also soon fulfill streets connecting with ports on Dong Nai river and Saigon river…

Tran Van Nam, member of provincial Party Central Committee, Secretary of provincial Party Committee, Head of provincial National Assembly deputy delegation said that the province has paid more attention to infrastructure development and will strive to seek solutions for breakthrough in this field. The province will strengthen traffic projects connecting with HCM city. Particularly, the province will expand the highway 13. Tan Van-My Phuoc expressway will be completely opened to traffic in association with developing a bus rapid transit (BRT) route connecting Binh Duong new city with Suoi Tien…The projects on bridges and streets connecting Binh Duong with Tay Ninh and Dong Nai provinces have been also commenced for construction. The province has also coordinated with neigboring localities to propose many projects on infrastructure connectivity in the southeastern region…

Reported by Tieu My-Translated by K.T