After more than 2 years of implementing provincial Party Committee’s Program No.23-Ctr/TU on mobilizing and upholding resources from economic sectors to further make socio-economic infrastructure development for the 2016-2020 period (or briefly called the Program 23 TU), the province reaped good results, significantly contributing to successfully realizing the Resolution of the 10th provincial Party congress.
Participation of resources
Only after two-year implementation of the Program 23 TU, the province’s total capital for social investment between 2016 and 2018 was more than VND245.3trillion, up 11.8% per year. Of that amount, more than VND122trillion was for infrastructure development.
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Production of Punch Industry Manufacturing Vietnam Co.Ltd. at Ben Cat town-based My Phuoc 3 Industrial Park
Implementing the Government’s Decree No.69/2008/ND-CP dated May 30, 2008 and Decree No.59/2014/ND-CP, the province organized guidance on socialization work and made a list of investment projects under the socialization formula. So far, the province has said ok to investors with feasible research reports for 7 projects in the fields of education, healthcare, culture and sports.
At a working session with provincial leaders in early 2019, Deputy Prime Minister Vuong Dinh Hue emphasized that Binh Duong is one of the country’s bright spots in terms of mobilizing resources for social housing investment, thereby not only ensuring the local social welfare, but also being a previous lesson for other localities to follow.
Till now, the province’s social housing floor area has reached around 925,000 squares. Along with Becamex IDC, province-based enterprises have got involved in social housing construction. Especially, the province last year approved the Becamex social housing project for the 2018-2021 period with a total area of 1.82 million square meters, contributing to dealing with laborers’ demand for housing…
In addition, according to representative of provincial Department of Planning and Investment, the province’s credit network has contributed to meeting infrastructure projects’ monetary, credit and payment demand. The province has also paid more attention to management over credit organizations, which is also one of factors to promote mobilization of resources, except State budget for the local infrastructure development.
Strongly absorbing FDI capital
In the period of 2016 and 2018, the province’s total investment capital for infrastructure of industrial parks and compounds was more than VND9.13trillion. The whole province is now home to 29 industrial parks of 12,753 hectares, including 27 in operation with the rate of land tenancy at more than 80% and 12 industrial compounds of 900 hectares with the rate of land tenancy at 70%.
With a well-built infrastructure system, since 2016, the province has absorbed more than US$2billion in FDI capital every year. From 2016 to April 15, 2019, the province lured US$8billion in FDI capital, exceeding 14.9% of the set plan for the 2016-2019 period. Thus, as of now, the province has drawn more than 3,500 FDI projects from 64 countries and territories with a total registered capital of more than US$33.2billion, ranking third nationwide in FDI attraction.
Noticeably, most FDI projects in the province are arranged into industrial parks and compounds with modern and synchronous infrastructure facilities, namely VSIP 1, VSIP 2, Bau Bang, Tan Binh, North Tan Uyen…Since 2016, FDI capital flowing into the province’s manufacturing and processing sectors has amounted to more than US$6.8billion or 84.5% of total registered FDI capital during the period.
The province has also focused on large-scale FDI projects supplying materials for industries, contributing to promoting the local economic structure in the right direction with the decisive role belonging to industrial manufacture and services. Additionally, FDI enterprises have taken part in the process of the local modernization and industrialization via making sci-tech transfer between them and domestic and enterprises. Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that FDI capital is the great resource for the province to reach vigorous development towards civilization and modernity, improving the lives of people from all strata.
In the coming time, provincial People’s Committee will continue removing obstacles in the process of realizing key projects; enhance the responsibility of leaders in entrusted tasks. One of the province’s major solutions over the past time was to excel at sorting out competent consulting and construction units, well controlling over the quality of works to optimize socialization capital.
Reported by Khanh Vinh-Translated by K.T
