Binh Duong expects big jump in 2019 economic development hinh anh 1Illustrative image (Source:

Binh Duong (VNA) - The southern province of Binh Duong is expected to make a breakthrough progress in socio-economic development in 2019 thanks to its recent strong growth.

Speaking at the meeting of the provincial People’s Council recently, Vice Chairman of the provincial People’s Committee Mai Hung Dung affirmed that the locality has continued to record positive changes in almost all fields in 2018.

Binh Duong’s gross regional domestic product (GRDP) is estimated to increase 9.01 percent, compared to the target of 8.5 percent, while GRDP per capita reached 130.8 million VND per year.

Export-import activities maintained a high growth, resulting in a trade surplus of over 4.7 billion USD.

By November 15, Binh Duong attracted over 52.8 trillion VND (over 2.26 billion USD) of domestic investment, and 1.69 billion USD of foreign investment, representing respective increases of 25.3 percent and 20.9 percent compared to the plan set for the year.

The province is now home to 3,478 foreign-invested projects with total registered capital of 31.8 billion USD.

Binh Duong is the first locality of Vietnam becoming a member of the world’s Intelligent Community Forum (ICF), contributing to improving its position, boosting economic cooperation and attracting investment.

Dung said the hosting of international-level events in 2018 was good opportunities for Binh Duong to promote its image to domestic and foreign enterprises, and learn from international experience in developing technology 4.0 and smart city.

The locality is working hard to seek development partners, attract investment and enhance cooperation in research, aiming to create a foundation for developing smart urban areas and making socio-economic breakthroughs, and building modern and hi-tech industries.

Binh Duong plans to restructure the economy in the direction of increasing the proportion of services, while improving the investment and business environment and encouraging innovation in enterprises.

It will also calling for investment in high-quality service sectors, logistics, industrial and urban development and sectors using environmentally friendly technologies.

Attention will be paid to promoting administrative reform, innovation and creativity, start-up, business development and taking measures to support small and-medium-sized enterprises and remove difficulties in terms of public investment.

Binh Duong will also work to improve the effectiveness of diplomatic work and international cooperation, contributing to fostering trade promotion and tourism.-VNA