High Prospect for Industrial Development in Binh Dinh Province

High Prospect for Industrial Development in Binh Dinh Province

This coastal Central Southern province has a complete transport system: railway, road, airport and seaport, which provide favourable conditions for local and foreign economic exchange activities. The province borders the sea to the east, an abundant source of seafood, and has forests in the west, a source of mineral and forest products. Binh Dinh also has complete telecom, electricity and water supply  systems. Despite its long distance from major economic centres, it has certain potential for the development of industry, especially mineral exploitation and agro-forest-seafood processing. 

Binh Dinh’s industry has seen a hug increase in recent years thanks to constant renovation efforts over the past 30 years. The local industrial production has made constant and stable growth of 20 percent per annum in the last 15 years. 2005 is considered a decisive year for the completion of objectives of the five-year programs. The province aims to raise industrial growth to 23 percent compared to 2004, by: overcoming difficulties for projects to build steel rolling, alcohol, cassava starch and pine apple processing plants; building resettlement areas and accelerating site clearance; making plans for industrial complexes along National Road 19; offering incentives for investors in industry and crafts production. Notable is the Nhon Hoi complex with an industrial park, a new urban area with modern architecture, deep seaport services and a resort linking the centre by Thi Nai Quy Nhon-Nhon Hoi Bridge. The province will build up favourable trading policies for material cultivation areas of sugarcane, pineapple, cassava and seafood. Careful attention will also be paid to the adjustment and supplementation of investment policies and administrative reform.

Faced with big opportunities and challenges in the 21^st century, Binh Dinh’s industry continues to promote its advantages, strengthening its competitive ability in the market, focusing on the development of agro-forestry-seafood processing, consumption goods, garments, footwear and handicrafts. It will also begin research on mechanics, electronics, chemicals and some new hi-tech products of high technical content.

Being newly stated by the Government as a key economic area in Central region, the sector sees it as an opportunity to promote its advantages and mobilize maximum investment inflow into industrial production. The province is willing to provide a level playing field for both local and foreign investors, aiming to reach the highest possible investment efficiency. With its “red carpet” policy, Binh Dinh pays particular attention to calling on highly-qualified overseas Vietnamese (Viet Kieu) to support the country’s socio-economic development.

The sector is reportedly checking planning on the development of industry, electricity and craft villages development by 2010 and 2020, cooperating with the country’s two biggest economic centres, Hanoi and Ho Chi Minh City. It endeavours to play the leading role in the cause of industrialisation and modernisation of the province, helping Binh Dinh to catch up with developed provinces in the region and join international economic integration.

• Quoc Tuan