Six years after Vietnam as a member of WTO, Binh Duong’s economy has reaped positive results, particularly in export and FDI attraction. Regarding this, province-based enterprises said that integration has created many opportunities for their development.
Success in export and investment
Six years after Vietnam became a member of WTO, Binh Duong has gained considerable growth in terms of export and investment.
Particularly, the province’s export
turnover reached nearly US$5bln in 2006. The figure in 2007 increased by more
than 27% compared to 2006 and in 2008, it also grew by 22% compared to 2007…As
of late 2011, the province’s export turnover saw a two-fold increase compared
to 2006. 
Shoes for export being manufactured in Thai Binh Investment Joint Stock Company
The province secured US$9.45bln in export turnover in the first ten months of 2012. So far, its export market has been expanded to 193 countries and territories. The province’s commodities are now present in most WTO member countries. Noticeably, the province’s export industry has developed more products with high technology and competitiveness after Vietnam became a member of WTO in 2006.
Along with growth in export, the province’s FDI attraction has achieved successes after Vietnam joined WTO in 2006. Since 2006, the whole province has drawn more than 2,200 projects with total investment capital of nearly VND17.4bln.
Countries and territories pouring investment into the province has gained increase in quantity. Most investment projects during the period have been bigger in size and focused on hi-tech industries in line with the province’s sustainable development orientation.
Success in enterprises’ eyes
WTO is seen as a playground full of opportunities and challenges for Vietnamese enterprises to affirm themselves.
Luong Ngoc Van, Director of Truong Tho Co.Ltd. said that since joining WTO, Vietnam has seen the presence of many commodities from countries in the world while Vietnam’s commodities exported to countries have got more. This has created a driving force for domestic enterprises’development.
According to Nguyen Thi Hong Van, Director of Dai Hong Phat Private Enterprises, Vietnam’s WTO entry is a favorable condition for domestic enterprises to receive new things and uphold their advantages to adapt themselves with a business climate in the integration period. Since 2006, Vietnamese commodities have been present in many countries, which is a thing worthy of pride.
Vu Thi Ngoc Trinh, CEO of Minh Dung Veterinary-Aquaculture Medicine Co.Ltd., one of province-based companies reaching remarkable success with hi-quality products exported to 17 countries, said that WTO playground has helped domestic enterprises grow. They have enjoyed many opportunities to get access to partners and learnt valuable lessons for better development.
Reported by Ve Giang-Translated by K.T
