Business

Binh Duong province established as processing hub

The processing industry in the southern province of Binh Duong generated 130 trillion VND (nearly 6.2 billion USD) during this years’ first three quarters, up by 13.6 percent compared to last year, turning the locality into Vietnam’s processing hub.
The processing industry in the southern province of Binh Duong generated130 trillion VND (nearly 6.2 billion USD) during this years’ firstthree quarters, up by 13.6 percent compared to last year, turning thelocality into Vietnam’s processing hub.

The processing industryrepresented 98 percent of the province’s production value, whichtotalled more than 131 trillion VND (over 6.23 billion USD), a 14percent increase since 2013. The remaining 2 percent of production value- 1 trillion VND - was generated by the mining sector, Vo Van Cu,Director of the provincial Department of Industry and Trade, said.

Growthwas recorded primarily in the sectors that process export products,such as footwear and handbags (27 percent increase), wooden products (27percent increase), rubber and plastic goods (24 percent increase), andanimal fodder (5-18 percent increase).

Recently, Binh Duongadjusted its socio-economic development plan for 2020 with a focus onprocessing and high-tech industries to accelerate sustainableindustrialisation.

Binh Duong is located in Vietnam’s southernkey economic region, which also encompasses Ho Chi Minh City and sixother provinces.-VNA
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