Binh Phuoc targets becoming industrialised province

Binh Phuoc (VNA) - 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.

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

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

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

Domestic investors also registered 7 trillion VND to develop 110 projects, bringing the total amount to 1,081 projects valued at 90.7 trillion VND.

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

It expects to maintain its average economic growth, attract more investment, increase export-import turnover, and raise budget collections to 18-18.5 trillion VND by 2025.

Its annual per capita income is also set to exceed 100 million VND.

Binh Phuoc will strive to improve people’s living standards and narrow the development gap between urban and rural, ethnic minority, remote, and border areas.

To that end, it has 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 sped up infrastructure building to be better connected with the Central Highlands and logistics centres in the southern region, while promoting its production and business environment among domestic and foreign investors.

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

The province proposed on March 12 that Prime Minister Nguyen Xuan Phuc allow the expansion and adjustment of industrial parks in the locality.

Accordingly, it plans to add 1,000 ha to the Minh Hung Sikio Industrial Park and 1,500 ha to the Nac and Nam Dong Phu Industrial Parks./.