Binh Phuoc: IIP up nearly 17 percent in first five months

Binh Phuoc (VNA) - The Index of Industrial Production (IIP) in the southern province of Binh Phuoc increased 16.7 percent year-on-year in the first five months of 2021, according to the provincial Department of Statistics.

Significant growth was seen in certain key industries, such as processing and manufacturing (17.9 percent), water supply and drainage, and waste treatment (4.5 percent), and the production and distribution of electricity, gas, and air conditioners (4.1 percent).

In May alone, the index rose 17.54 percent year-on-year.

The department said the province’s budget collections totalled 5.84 trillion VND (over 252.7 million USD) in the period, up 14 percent year-on-year.

To implement the dual goal of COVID-19 containment and economic development, the provincial People’s Committee asked relevant departments, sectors, and localities to focus on promoting the development of innovative ecosystems and start-ups.

Attention has been also paid to synchronously implementing measures to remove difficulties facing local businesses.

Binh Phuoc is seeking investment in a series of infrastructure projects, including an airport and industrial parks, in the 2020-2025 period.

Situated in the southern key economic region, Binh Phuoc is the largest of the 19 provinces in Vietnam’s southern region.

It is famous for two crops of high economic value - rubber and cashew nuts - and has 243,000ha of land under the former and 138,000ha under the latter.

It posted economic growth of 7.51 percent last year thanks to outstanding efforts in containing COVID-19 and promoting economic development.

Growth is expected to come in at 8.5-9 percent this year./.