Dong Nai Accelerates Growth

 

International integration has opened up the opportunity for Dong Nai to export products. Export markets will be expanded. The province can export without quotas to other WTO members main products as coffee, cashew nut, rubber, garments, footwear, ceramics, motors, pumps, refrigerators, washing machines, electronics, bamboo and wooden products. Besides, implementing WTO commitments has improved the market economy and the business and investment environment, promoting investment by all economic sectors, local and foreign, direct and indirect, including multinational companies with big financial potential. It will help the province in industrialization and modernization, and promote cooperation and friendship with other countries. Consumers will have more choices of commodities and services with competitive prices.

 

However, the integration has also brought several challenges to the province, first of all, the pressure of competition. With integration, the international financial and monetary markets will have a bigger impact on domestic and provincial markets, affecting economic development. Currently, FDI plays an important role in the province. It also poses a potential danger in the event of a regional or world economic crisis. Regarding human resources, the province lacks both quantity and quality, especially in information technology and foreign languages. Vietnamese businesses may have difficulties in international disputes, especially in trade, intellectual property and trademarks, and they need the assistance of experienced lawyers. Dong Nai and Vietnam as a whole are in dire need of experienced lawyers with good knowledge of international law and foreign languages to assist Vietnamese businesses in commercial disputes and consulting. While enterprises need a skilled workforce, human resources in Dong Nai are mostly untrained, and poor in skills and management.

 

First of all, Dong Nai must implement Party and State policies on socio-economic development, engaging the people in international integration, developing their creativeness and strength, including overseas Vietnamese. The province must maintain high economic growth rates, improve quality and efficiency, and ensure social equality, political and economic stability, and cultural identity. It must make the best use of internal and external strengths.

 

To maintain a strong foothold in domestic and international markets, Vietnamese businesses must have a suitable development strategy, develop trademarks and improve the quality of products and services, as well as having expertise in international negotiation.

 

Like other provinces, Dong Nai is trying to attract local and foreign investments for socio-economic development. Competition is inevitable. However, each city and province has its own advantages to attract investments suitable to its planning and conditions. Therefore, it is not a real problem; the development of each city and province will contribute to the common development of the country.

 

Furthermore, Dong Nai is ready to cooperate with other provinces to develop existing strengths and attract investment.

 

Dong Nai recorded high growth rates in the past years and the economic structure developed in the correct orientation: industry-service-agriculture. However, there are certain shortfalls in the economic structure: the service ratio of GDP remains low, while the workforce ratio is high in agriculture. In the coming years, the province will accelerate the economic restructuring to ensure by 2010 industry-construction will make up 57 per cent, service 34 per cent , and agriculture-forestry-fisheries 9 per cent.

 

The province will apply the following measures to develop trade, tourism and services: developing finance, banking, insurance, telecommunication, transport, health care and distribution; investing in recreation centres, office and housing projects, commercial centres and supermarkets to increase distribution to and consumption by the people.

 

Regarding tourism, Dong Nai will facilitate the expansion of business activities to attract more investment, developing facilities to receive more foreign tourists such as venues for meetings, hotels, recreation centres, Long Thanh golf course, Vinh Cuu and Trang Bom resorts, and cultural and historical relics.