Yesterday morning (February 12), Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People's Committee, chaired a meeting with industries’ associations, foreign investment associations and businesses to mark the beginning of 2025. The event was attended by Nguyen Van Loc, Member of provincial Party Standing Committee and Chairman of provincial People's Council.
Joining efforts to achieve growth goals
At the meeting, provincial People’s Committee Chairman Vo Van Minh affirmed that building on the province’s foundational achievements and the government’s strong commitment, the business community serves as a driving force for Binh Duong to achieve its set growth targets. The province’s industrial structure is undergoing a significant transformation, with a gradual reduction from labor-intensive industries toward high-tech and creative ones. Binh Duong continues developing specialized industrial zones as well as IT and science-technology parks, aiming at establishing itself as an innovation hub that meets the needs of investors in high-tech sectors, semiconductor industries and clean energy.
Along with economic development, Binh Duong has been effectively implementing social welfare policies, job creation, vocational training and healthcare initiatives to improve people’s material and spiritual lives. The province is also accelerating administrative reform and digital transformation, particularly through the implementation of the project to develop applications of data on population, electronic identification and authentication for national digital transformation for the 2022-2025 period and a vision to 2030 (Project No.06). Additionally, efforts to build a smart city are being strengthened, enhancing the efficiency of State management and the quality of public services. Furthermore, Binh Duong is focusing on developing a modern traffic system with synchronous regional connectivity, in line with the Southeastern Master Plan to create new growth momentum for the province and the Southeastern region.
At the meeting, provincial leaders heard and got contributions and recommendations from industries’ associations and businesses to promote the local production and business activities. They also provided thorough responses regarding policies supporting businesses required to relocate and shared insights on the opportunities and challenges posed by the looming threat of a trade war.
Flexible adaptation, support for mutual development
Nguyen Liem, Chairman of Binh Duong Furniture Association (BIFA) expressed concerns among BIFA businesses about the impact of a trade war, particularly the risk of trade fraud. He emphasized the need for effective mechanisms to protect businesses and mitigate risks. Additionally, in order to ensure that the province achieves double-digit growth in 2025, wood industry enterprises are seeking more favorable conditions for expansion and resource support, especially for businesses that must relocate, due to zoning regulations.
Phan Nhu Thach, Vice Chairman of Binh Duong provincial Construction Association highlighted that the Metro project is addressing regional traffic connectivity, particularly with Ho Chi Minh city, paving the way for economic restructuring in the trade and service sectors. The association proposed a project developing a Transit-Oriented Development (TOD) model to connect the two high-density urban areas of Thuan An and Di An from now, to attract major investors and high-quality laborers, thereby promoting Binh Duong’s trade and service sectors. The association also suggested the province to provide tax incentives and digital infrastructure support to attract large investors and foster startup growth. Meanwhile, businesses within the association are accelerating the implementation of projects, contributing to Binh Duong’s goal of achieving double-digit economic growth this year.
According to Nguyen Tran Hieu, Director of Binh Duong provincial Customs Department, the trade defense policies of major countries are adversely affecting the export activities of domestic enterprises. Additionally, markets that consume Vietnamese products are imposing stricter environmental and product quality requirements. In this context, provincial Customs Department has encouraged businesses to continue collaborating with relevant authorities to promptly detect and address cases of trade fraud. On its part, provincial Customs Department will further facilitate customs clearance processes, stay updated on relevant information to support enterprises and assist enterprises in diversifying transportation methods to reduce costs and enhance market competitiveness.
Ha Van Ut, Director of provincial Department of Industry and Trade stated that in 2025, the industry and trade sector will further create favorable conditions for businesses to achieve their production and business goals. Currently, trade defense measures pose a significant challenge to Binh Duong’s export activities, particularly in the U.S. market. Provincial Department of Industry and Trade will closely follow the guidelines of the Ministry of Industry and Trade, provincial policies and collaborate with relevant departments, sectors and local authorities to develop comprehensive and effective solutions. This collective effort aims at helping businesses adapt flexibly to challenges and mitigate risks in association with trade defense measures.
Concluding the meeting, Mr. Minh emphasized that Binh Duong aims at achieving double-digit growth in 2025 and highly values contributions by the business community. The province will further streamline administrative procedures, create favorable conditions for investors and promote the development of high-value industries, high-tech services, logistics and industrial support services. "With a strong commitment to improving the investment environment, enhancing public service quality and standing by the business community, we believe that Binh Duong will remain an attractive destination for domestic and international investors", said Mr. Minh. He also acknowledged business concerns regarding goods circulation and reaffirmed the province’s efforts to ensure that businesses have necessary conditions for growth. Additionally, Binh Duong will reinforce specific guidance and support, encouraging enterprises to fulfill their production and growth objectives effectively.
Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People's Committee emphasized that due to Binh Duong's development history and the need to create new growth spaces, the province encourages businesses to relocate while facilitating their restructuring towards green and sustainable production. The province is finalizing policies to ensure that relocating businesses receive the best possible support in their new locations, enabling stable production and attracting labor resources. Additionally, Binh Duong is creating conditions for converting the functions of the old production area in accordance with the local planning.
Since early this year, Binh Duong has approved investment policies and granted investment certificates for seven foreign investment projects with total capital of nearly US$ 1 billion. The province has also approved 23 domestic investment projects, with total registered capital of nearly VND 42 trillion, approximately US$ 1.7 billion.
Reported by Tieu My-Ngoc Thanh-Translated by Kim Tin
