The southern province of Binh Duong recorded a year-on-year growth rate of 7 percent in gross regional domestic product (GRDP) between January and June, according to the provincial People’s Committee.
Producing electronic
components at the Japanese-invested Seibi Semiconductor Vietnam Co. Ltd in the
VSIP II Industrial Park in Binh Duong (Photo: VNA)
The figure was lower than that of the same
period last year, which had grown 7.85 percent since the first half of 2016.
Meanwhile, the province targets a GRDP expansion of 8.5 percent by the end of
2018.
Over the last six months, the local industrial sector grew 8.3 percent, the
services sector expanded 5.3 percent, and agro-forestry-fishery increased by
3.5 percent.
The industrial production index rose by 8.9 percent with processing activities
posting the fastest pace of 9.2 percent. Total retail sales of goods and
services were estimated at 92.21 trillion VND (3.97 billion USD), up 17 percent
year-on-year.
Provincial authorities also reported good growth in Binh Duong’s import and
export revenue, resulting in a trade surplus of 2.5 billion USD in the first
half of this year.
Foreign investors poured more than 854 million USD into the province, which was
61 percent of this year’s plan, but only 49 percent of that for the same period
of 2017.
Chairman of the provincial People’s Committee Tran Thanh Liem said that in
order to fulfil this year’s targets, the administration will devise measures
for improving the investment climate, facilitating production and business
activities in each sector to fuel economic growth.
Binh Duong will also step up dialogue with enterprises and business
associations to tackle hindrances to their operations, as well as supporting
startups and innovation activities. It will also work out suitable solutions to
encourage household businesses, cooperatives, and cooperative groups to
transform into enterprises, he added.
Binh Duong is part of Vietnam’s southern key economic region, which also
includes Ho Chi Minh City, and the provinces of Tay Ninh, Binh Phuoc, Dong Nai,
Ba Ria-Vung Tau, Long An, and Tien Giang. -
Source: VNA
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