Businesses in Binh Duong Province: Firm Economic Driving Force

10:21:52 PM | 12/2/2009

After 12 years of provincial reunification, the business team in Binh Duong has been expanding quickly, contributing to the province's spectacular push to become one of the provinces and cities with the highest socio-economic growth rate. On the occasion of celebrating the Day of Binh Duong businesses and conference of Binh Duong on December 31, young entrepreneurs are being honored for their achievements and contributions to business enterprises once again.
At the close of 2008, the number of enterprises located in Binh Duong has come to 8,508 in total, of which 6,709 are domestic businesses with the investment of VND43,354 billion and 1,799 foreign companies with the investment of nearly US$11 billion. The fast multiplication in number and size of enterprises is the most vivid evidence of attractiveness and favourableness of the investment environment in Binh Duong.
It also shows the great efforts made by the local authorities in taking the best advantage of the favourable factors and public consensus in creating and developing the investment environment equipped with complete and modern industrial infrastructure. This is the prerequisite in luring investment and developing the enterprise team. Businesses are most impressive and successful when the government enacts policies and guidelines of openness and transparency efficiently. Accordingly, businesses are able to grasp opportunities to achieve the best investment performance. Another remarkable point is the provincial leaders' timely solutions via direct contacts to listen to recommendations, enter into dialogues and solve problems. This helps enterprises feel secure and confident about investing in the province.
Most investors have gained efficiency, helping to bring the province's industry from an outdated backwater to a leading interdisciplinary industry. A remark from the Department of Planning and Investment pointed out that: "The positive change made by enterprises in Binh Duong over the past years is due to quality and quantity. There is also a breakthrough in facilities and equipment. Some businesses have made a big investment to attract advanced technologies and equipment aimed at producing products of high added value that are able to compete in the local and international markets". This highlights the importance of enterprises in Binh Duong as the economic motive force.
Although the economic circumstances in 2008 was unfavourable, the tireless efforts of the team of businesses in Binh Duong has led to an industrial production value of VND80,068 billion, with an export value of roughly US$6.2 billion, contributing 26 per cent in the state budget, well exceeding the planned annual target. Moreover, enterprises in Binh Duong are interested in and make big contributions to the community with sustainable development as their objective. In addition to participating in many socialised works, they also support the poor and victims of natural disasters, donate to charity, and build houses that are worth hundreds of billions of Vietnamese dong a year. The most outstanding examples of the regular and big contributions are Thanh Le Company, Becamex IDC, Nam Tan Uyen Industrial Zone Joint Stock Company, Minh Long I Company, Vietnam Yazaki EDS, M&C Materials Company, and Hung Dong Plastics Company.
Thuy Ha