Illustrative image (Source: http://vietstock.vn)
Binh Duong (VNA) – The industry development index of the southern province of Binh Duong stood at 10.1 percent in 2016, down 0.2 percent year-on-year, reported the provincial Department of Industry and Trade. 

Amid difficulties and challenges, local enterprises had to work hard and actively organised trade promotion activities to maintain business and stable growth. 

In 2016, owners of industrial parks (IP) invested over 300 billion VND (13.2 million USD) in building technical infrastructure systems, the department said, adding that local IPs attracted over 1.6 billion USD in foreign direct investment (FDI), accounting for 85.8 percent of the total investment flow in the province.

The export value of enterprises operating in IPs and industrial clusters reached 11.8 billion USD, while their revenues hit 20 billion USD.

Sectors recorded the highest growth rates included water supply and wastewater treatment with 17.3 percent; electricity production and distribution, 13.3 percent; and mining industry, 10.4 percent. 

Meanwhile, the province’s key export staples such as electric equipment, leather products, and garment-textiles maintained stable growth rates, with respective rises of 18.8 percent, 8.6 percent and 6.7 percent. 

The local authorities approved projects to expand the Bau Bang and Cay Truong IPs, which are hoped to lure more investment and promote service and urban development in the locality.

Binh Duong is striving to increase its GDP growth rate to 13.3 percent in 2020 and turning itself into a key industrial centre, which will focus on developing the supporting industries, generating jobs for about 45,000 labourers. 

In 2017, the province will boost export to developing and regional countries along with expanding spearhead industrial sectors such electricity, electronics, telecommunications, mechanical engineering, chemical and processing industry, the department said. 

Binh Duong will give priority to producing high-tech and environmentally friendly products and those with high-added value.-VNA