Industry and Trade Impressive Contribution to Local Development

Binh Dinh province, with its strategic location and rich resources, has long been one of the dynamic economic centers in the central region. In 2024, the province's industry and trade sector made an impressive contribution to local socioeconomic development.

Quy Nhon Port plays an important role in the development of the maritime economy in Binh Dinh province

Specifically, many of the sector's achievements beat expectations. The Index of Industrial Production (IIP) climbed 10% from the previous year, the total retail revenue of consumer goods and services was estimated at VND115,510 billion, up 12%. In particular, the export value rose 4.7% year on year to US$1.71 billion, largely driven by woodwork, seafood and apparel. These figures not only demonstrated a strong post-pandemic recovery but also affirmed Binh Dinh's position on the regional economic map.

This growth came from comprehensive solutions like organizing business dialogues, supporting problem solving and promoting digital transformation. The effective implementation of industrial promotion policies and the application of advanced technologies helped industrial manufacturers improve processes, productivity and product quality. In addition, active participation in domestic and foreign fairs and exhibitions also helped Binh Dinh boost its consumer markets and expand exports.

Mr. Ngo Van Tong, Director of the Department of Industry and Trade, said: The well-located province of Binh Dinh is the gateway to the sea for the Central Highlands of Vietnam, Southern Laos and Northeastern Cambodia. With a modern seaport system and a synchronous transportation network, Binh Dinh is an important logistics center that helps promote domestic and international trade. In particular, the province's wood processing industry affirms its position as one of the largest centers in the country, with dozens of large factories in industrial parks like Phu Tai and Long My.

Moreover, Binh Dinh has great potential for seafood fishing and processing given its large sea area and abundant maritime resources. Food processing, construction material manufacturing and renewable energy industries also grow strongly and importantly contribute to the local economy. Additionally, trade promotion, investment environment improvement and SME support have motivated sustainable development.

The industry and trade sector will focus on key development pillars, including processing industry, trade and logistics services. Binh Dinh province has carried out specific action programs like developing infrastructure for industrial zones, reforming administrative procedures and boosting digital application. The province has actively implemented solutions for a better business environment and stronger competitiveness; actively and effectively improved consulting quality for making industrial and trade development policies and plans. It has enhanced dynamism, innovation and determination of the leadership of the Department of Industry and Trade and the awareness and responsibility of its employees in upgrading the investment and business environment and boosting investment effectiveness.

The industry and trade sector will continue to focus on trade promotion, support business development, expand markets and boost product consumption by assisting local companies to attend trade fairs and exhibitions, organizing conferences to disseminate information on free trade agreements that Vietnam is signatory to help them access, grasp and expand international economic trade opportunities.

Furthermore, the sector will accelerate administrative procedure reform, digitize administrative records and settlement results, and raise the rate and quality of online public services delivered in a user-centered manner. Some specific solutions include regularly researching and reviewing procedures to propose a shorter settlement time, simplifying record components, regulations and procedures, announcing and publicizing administrative procedure processes, digitizing record components and administrative procedure settlement results.

The sector will strengthen communication, promote digital transformation and enhance the direction and administration of the Department of Industry and Trade to better serve people and businesses.

By Manh Dung, Vietnam Business Forum