Binh Duong racks up over 1.2 billion USD in trade surplus
The southern province of Binh Duong enjoyed a trade surplus of more than 1.2 billion USD in the first quarter, with export turnover of over 5.6 billion USD and import value of nearly 4.4 billion USD.
Garments production for exports (Photo: VNA)Binh Duong (VNA) - The southern province of Binh Duong enjoyed a trade surplus of more than 1.2 billion USD in the first quarter, with export turnover of over 5.6 billion USD and import value of nearly 4.4 billion USD.
Outstanding exports were recorded in wood furniture (up 9.7 percent), garments (9.1 percent), footwear (13 percent) and electronic products (11.9 percent).
The foreign direct investment (FDI) sector accounted for 79 percent of the total export turnover, up 17.8 percent from the same period last year.
Efficient measures promoting trade and investment have been taken by the province with a view to enlarging domestic and international markets. Those include signing cooperation agreements with enterprises in the Netherlands’ Emmen and Hoovegeen cities.
Along with providing prompt external services for businesses investing in the locality, the province has paid attention to enhancing cooperation relations with other provinces and foreign partners.
Last year, the province licensed 176 new FDI projects worth 966 million USD and 734 million USD was added to 113 operational projects.
Binh Duong is now home to 26 industrial parks, covering a total area of 8,800 hectares. The average occupancy rate is 65 percent.
It plans to lure 1.4 billion USD in FDI in 2016. It vowed to continue to improve the local business climate and provincial Competitiveness Index by adding further support to investors, stepping up administrative reforms and ensuring social welfare.-VNA
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