2:37:16 PM | 27/12/2006
For ten years of the re-establishment, (January 1, 1997- January 1, 2007), Binh Duong province has gained major achievements. With its breakthroughs in domestic and foreign investment, Binh Duong has become a dynamic economy in the Southern Key Economic Region as well as the whole country
Major achievements
10 years is a short period for a newly established province in the implementation of socio-economic objectives. However, with dynamism and creativeness the province has developed its comparative edge, applied stable policy and cooperated with the business community to ensure efficient investments. As a result, the province could successfully mobilize outside resources for high economic growth.
The average increase of GDP in the past 10 years has been 15.2 per cent. The economic structure is changing in favour of industrialization and modernization. By the end of 2006, industry-construction makes up 64.1 per cent (50.4 per cent in 1997), trade-service 28.9 per cent (26.8 per cent in 1997), and agriculture 7 per cent (22.8 per cent in 1997). The per capita income is VND17.5 million (three times that of 1997). The industrial value has increased by 33.4 per cent a year. In agriculture, though with smaller proportion in structure, the production value has increased steadily by 6.8 per cent a year. Trade-service has increased by 13.7 per cent a year. The export turnover by 30.3 per cent. The budget revenue by 24.4 per cent a year and in 2006 the revenue is seven times that of 1997, among few provinces contributing high revenue to the central government. At the same time, the infrastructure has been upgraded to meet the ever increasing demand of business activities and social welfare.
The achievements recorded so far have confirmed that the economic development is fully in conformity with the local conditions. We will continue the tradition with the greater unity, dynamism and creativeness of each and everyone involved.
Ready for integration
The success of the province is partly due to its strategic vision and long-term planning. With WTO accession, each province should adopt appropriate measures for the economic integration. Binh Duong will hire capable consultants, including foreigners, for important planning and hopefully it can be started in 2007.
To this end, Construction, Planning and Investment Departments, as well as related authorities at all levels of the province, must review and re-adjust their planning accordingly. All planning submitted to the province for approval must ensure high quality, feasibility and sustainable development. At the same time, the planning must be made public to get the cooperation of the people and investors with the State in the management and implementation process.
With good signs of investment flow from Japan, South Korea, US, and multi-national groups, the province will increase investment promotion and dialogue with businesses and investors. It will also increase its approach to big economic groups and countries of high technology, development of spearheaded industries, and high and environment friendly technologies.
To attain the industrial growth rate of 29-30 per cent in 2006-2010, the authorities at all levels must remove all hurdles, especially in license, permit on land and construction, tax and customs. They should continue dialogue and assist businesses in technology transfer, trade promotion, market expansion and trademarks.
There must be more investment in the development of infrastructure: roads, power and water supply, cultural and recreation centres, schools, etc. In agriculture, the province will enhance preventive measures against animal and plant diseases, introduce high yield, quality and competitive strains. The service sector will also be boosted to 30 per cent of GDP in 2010 by encouraging and facilitating investments in the sector.
In culture and social welfare, the province will accelerate the administrative reform, improving the democratization process, traffic and urban conditions with due regard for housing problems and living conditions of low-income households. The province will successfully enforce the laws on saving and anti-corruption, reform the education system and improve the training of managers.
Socio-economic development objectives in 2007:
GDP increases by 15 per cent
Economic structure:
- Industry: 64.5 per cent
- Service: 29.5 per cent
- Agriculture : 6 per cent
- Export value increases by 30 per cent
-Foreign investment increases to over US$900 million
-Budget revenue increases 16 per cent. Budget spending increases 4 per cent with 6 per cent increase for development investment.
-Child mal-nutrition of children under 5 years old will be down to 1.7 per cent
-Poor households will be reduced 2.5 per cent a year (in new poverty line of the province)
-35,000-40,000 jobs will be created.
P.V
Vietnamese
