Binh Duong identifies industry as the main growth driver

The planning of Binh Duong province for the period 2021-2030, with a vision to 2050, approved by the Prime Minister, identifies the structure of industry and construction as accounting for 64%, continuing to be the mainstay of this local economy.

Increasing the rate of industrial localization is one of Binh Duong's top goals. Illustration photo: Gia Han

Increase the rate of industrial localization

In early August 2024, the Binh Duong Provincial Planning for the 2021-2030 period, with a vision to 2050, was approved by the Prime Minister. Accordingly, the province determined that the average economic growth rate for the 2021-2030 period would reach about 10% per year, the average GRDP per capita by 2030 would reach about 15,800 USD; the economic structure in 2030, industry and construction would account for 64%, the service sector would account for 28%; the proportion of the digital economy would reach 30% of GRDP...

The province is also in the process of preparing activities to serve the Planning Announcement Ceremony, expected to be held around the end of September 2024.

Continuing to identify industry as the spearhead of the economy, Binh Duong aims to increase the localization rate in supporting industries and develop high-tech industries, participating in the global value chain. Developing ecological, modern, high-tech industries; making the manufacturing and processing industry a mainstay of the economy.

Data from the Department of Industry and Trade of Binh Duong province also clearly shows that, besides the localization rate of 40 - 45% for textiles and footwear, which is the highest, next is the production and assembly of cars with less than 9 seats (only 10 - 20%), electronics, information technology, telecommunications (only 15%) and 5% for specialized electronics and high technology...

Ms. Nguyen Thanh Ha, Deputy Director of Binh Duong Department of Industry and Trade, acknowledged that dependence on imported raw materials is still a weakness of Binh Duong industry. To develop the industry, the localization rate of the industry needs to be increased soon.

Binh Duong has also taken many actions on this issue, most specifically, the province has been promoting many activities to create conditions for THACO Industries to soon build a Mechanical and Supporting Industry Industrial Park (IP) with an investment capital of VND 26,000 billion (equivalent to USD 1 billion) in the area.

In addition, in terms of policy, to develop the province's supporting industry, in the coming time, the Department of Industry and Trade will submit for approval the "Project on orientation for the development of supporting industrial clusters in the province until 2020, with a vision to 2030". The important content is that Binh Duong province will invest in developing 4 supporting industrial clusters with an area of 75 hectares each, including building 1 supporting industrial cluster specializing in mechanics. In addition, Binh Duong has also planned an additional mechanical industrial park (Bac Tan Uyen 1 Industrial Park, in Tan Uyen Town) to contribute to promoting the development of supporting industries in the area.

To achieve the goal of economic restructuring with industry as the main sector, Binh Duong also aims for 87% of the workforce to undergo professional training to serve the development of industry and economic sectors. In addition, it is calculated to solve 100% of industrial solid waste and hazardous solid waste to be collected and treated.

Do green industry, selectively

As one of the industrial production centers of the country, Binh Duong currently has 28 industrial parks in operation, leasing 7,000 hectares of land, with an occupancy rate of over 93%. The province also has 10 industrial clusters and thousands of factories located among residential areas. The operating factories have created jobs for over 1.2 million workers. Currently, Binh Duong province is continuing to open more industrial parks to attract foreign investment.

The province's orientation is to prioritize the construction of a green, circular and sustainable industrial economy. The province realizes this by issuing a set of criteria for selecting investors to build technical infrastructure for clusters and industrial parks in the area. Accordingly, the province proactively selects FDI into the locality with an investment attraction policy that shifts to manufacturing enterprises with high technology and added value, with links with domestic enterprises and with R&D (research and development) centers located locally.

With the above orientation, many enterprises have joined hands to invest in sustainable development in Binh Duong. Ms. Huynh Dinh Thai Linh, CEO of World Trade Center Binh Duong New City (WTC Binh Duong) said that, facing the general trend and the expectation that Binh Duong will become a new world trade center, connecting not only the key southern provinces but also the world, WTC has been converting traditional industrial park models to green, smart industrial parks, and with newly built industrial parks, it has invested systematically from the beginning.

According to Ms. Linh, this is the direction of the Vietnamese Government that businesses cannot stay out of. WTC has even combined and received advice from many units to implement this strategy not only in Binh Duong but also in dozens of industrial parks across the country.

On the provincial leadership side, Chairman of the Provincial People's Committee Vo Van Minh said that Binh Duong has now had infrastructure development models that have become exemplary and spread to many localities across the country. With these achievements, Binh Duong province in particular and Vietnam in general are considered to have high economic development potential and become an attractive destination for FDI enterprises.

This is also considered a way to anticipate the trend when many big companies are also aiming for investment criteria to transform the green and sustainable growth model, based on the development of a green industrial ecosystem, circular economy, and green energy.

Source: https://baodautu.vn/binh-duong-xac-dinh-cong-nghiep-tiep-tuc-la-dong-luc-tang-truong-chinh-d223025.html