Business

Binh Phuoc targets becoming industrialised province

The southern province of Binh Phuoc recorded economic growth of 7.51 percent in 2020 thanks to its outstanding efforts in containing COVID-19 and promoting economic development, according to a local official.
Binh Phuoc targets becoming industrialised province ảnh 1An urban area in Binh Phuoc province (Photo: VNA)
Binh Phuoc (VNA) - The southern province of Binh Phuoc recorded economic growth of 7.51percent in 2020 thanks to its outstanding efforts in containing COVID-19 and promotingeconomic development, according to a local official.

Tran Tue Hien,Chairman of the provincial People’s Committee, reported that the locality’sindustrial production value expanded 10.3 percent last year, while constructionincreased 12.5 percent.

The province’sbudget collection totalled 11.6 trillion VND (502.28 million USD), with exportrevenue rising 7.33 percent and imports increasing 6.25 percent year-on-year.

It attracted 35projects with total registered investment of 252 million USD, raising the totalin the province to 273 projects worth 2.65 billion USD.

Domesticinvestors also registered 7 trillion VND to develop 110 projects, bringing thetotal amount to 1,081 projects valued at 90.7 trillion VND.

During the 2020-2025tenure, the resolution adopted at the 11th provincial Party Congressset the target of turning Binh Phuoc into an industrialised province and being includedin the group of provinces with rapid, sustainable development.

It expects to maintainits average economic growth, attract more investment, increase export-importturnover, and raise budget collections to 18-18.5 trillion VND by2025.

Its annual percapita income is also set to exceed 100 million VND.
Binh Phuoc targets becoming industrialised province ảnh 2Many property projects have been carried out in Binh Phuoc (Photo: Internet)

Binh Phuoc willstrive to improve people’s living standards and narrow the development gapbetween urban and rural, ethnic minority, remote, and border areas.

To that end, ithas embarked on e-administraion and smart urban area building towards a digital administration, in order to offer better public services to people and businesses.

It has also spedup infrastructure building to be better connected with the Central Highlandsand logistics centres in the southern region, while promoting its productionand business environment among domestic and foreign investors.

Speaking at aninvestment promotion event in late 2020, Hien said Binh Phuoc has developed 13industrial parks, of which eight have come into operation.

The province proposedon March 12 that Prime Minister Nguyen Xuan Phuc allow the expansion andadjustment of industrial parks in the locality.

Accordingly, itplans to add 1,000 ha to the Minh Hung Sikio Industrial Park and 1,500 ha to theNac and Nam Dong Phu Industrial Parks./.
VNA
#Binh Phuoc #industrialised province #industrial production #domestic investors #industrial parks #budget collection #updated Vietnam news #Vietnamplus #Vietnam News Agency Binh Phuoc
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