Binh Duong sees good economic signals in first nine months of 2018
The southern province of Binh Duong saw positive signals in economic growth in the first nine months of this year, with trade surplus reaching US$3.8 million, a representative from the provincial People’s Committee.
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The index of industrial production rose 9.37% in the January-September period, including an increase of 9.64% in processing industry. Many local firms have received full orders until the first quarter of 2019, with the number of orders increasing 5-10% year on year.
Its total retail and service revenue rose 17% over the same period last year to VND140.858 trillion (US$6.05 billion).
In the reviewed period, the province attracted VND39.35 trillion in investment from domestic firms, up 16.5% over the same period in 2017, along with US$1.18 billion of foreign direct investment (FDI), fulfilling 84.95% of its yearly target.
So far, Binh Duong has hosted 3,430 FDI projects worth US$31.29 billion, clinching its first position among localities nationwide in FDI attraction.
However, the province also faced a number of difficulties, including low disbursement of public investment, low production and prices of some kinds of farm produce, and infrastructure failing to meet the demand in goods transport.
Tran Thanh Liem, Chairman of the provincial People’s Committee, said that in the rest of the year, the province will continue improving its investment and business environment, while enhancing the provincial competitiveness as well as international integration index.
The province will also choose suitable projects, while calling for investment in industrial parks and clusters, he said.
The provincial leader said that the province will continue promoting the implementation of a smart city project in 2018, making it an ideal destination for investors.
