In the first eight months of 2014, Binh Duong’s economy continued reaching a stable growth. Many main targets, including industrial manufacture, export and FDI attraction, obtained a growth of over 13%...
Industrial production value, export on sharp growth
According to provincial Statistics Office, the province’s industrial production value in the first eight months of the year was estimated at more than VND114.013trillion, up 13% compared to the corresponding period of last year.
Of these, the domestic investment sector reached more than VND36.881trillion, up 12.7% while the foreign investment sector achieved nearly VND77.142trillion, up 13.3%.
Some key products got a high growth during the period. For example, footwear rose by 33.9%, handbags by 30.1%, plastic products by 23.3%...
Garment products being manufactured at Binh Duong Garment One-Member Co.Ltd.
Over the past eight months, the province’s export turnover secured nearly US$9.384mln, up 13.3% compared to the corresponding period of last year. Some industries gained a high growth in export turnover. For example, garment & textile increased by 18.2%, fibre by 23.3%, footwear by 15.7%, telephones and their components by 34.2%, electric wire and cable by 38.7%... Also during the period, the province’s import value was estimated at US$7.65bln.
The province’s trade surplus over the past eight months was more than US$1.7bln, the highest figure so far. Thus, Binh Duong and the whole country were about equal in trade surplus during the period.
The above result showed that the province’s auxiliary industries for export production have been upholding their effectiveness, contributing to helping the province reduce trade gap and improve competitiveness.
According to the result from a recent survey about 2014’s production and business trend at 387 enterprises conducted by provincial Statistics Office, the province’s investment climate in 2014 is very favorable. Domestic and international markets also see positive changes…Upon this judgment together with results done in the past eight months, the province’s industrial production and export will maintain a high growth for the rest of year.
FDI attraction exceeding the yearly plan
The province’s FDI attraction over the past eight months was also very good. Particularly, the province absorbed US$1.25bln in FDI capital during the period. Thus, the province has so far lured 2,335 FDI projects with a total investment capital of US$20bln.
Le Thanh Cung, Chairman of provincial People’s Committee said that the province has set a target of absorbing around US$1bln in FDI capital in 2014. But, the province attracted US$1.25bln in FDI capital over the past eight months, exceeding 25% of the yearly plan.
Also according to Mr.Cung, since the May incident, the province has still attracted more than US$350mln in FDI capital. This showed that FDI enterprises have still put trust in the investment climate of Binh Duong.
Upon the analysis results from aspects, comprising investment marketing, well-built infrastructure, administrative reform…, it is believed that Binh Duong’s investment climate will continue being attractive to foreign investors and the province will absorb more FDI capital in the coming time.
Reported by Ve Giang-Translated by K.T
