Binh Duong attracts 40.9 billion USD of FDI capital in the first 7 months

On the afternoon of August 2, Binh Duong held a press conference to inform about the socio-economic, defense and security situation in the first 7 months of the year.

Public investment will accelerate disbursement at the end of the year

Since the beginning of the year, the People’s Committee of Binh Duong province has issued many directive documents, signed agreements and launched emulation movements to accelerate the disbursement of public investment capital. The authorities regularly monitor, grasp the situation and deploy solutions to ensure that this goal is effectively achieved.

Overview of the press conference

However, up to now, the total disbursed value of public investment capital has only reached VND 5,021 billion, equivalent to 22.8% of the plan assigned by the Provincial People’s Council (the same period last year reached 31.4%) and 32.9% of the plan assigned by the Prime Minister.

At the press conference and information on the socio-economic, defense and security situation in the first 7 months of Binh Duong province held on the afternoon of August 2, Mr. Vo Anh Tuan, Chief of Office of the Provincial People’s Committee, said that although the disbursement rate of public investment is still low, the province has grounds to believe that by the end of the year, this rate will reach 94% or more.

Mr. Tuan emphasized that the acceleration of site clearance compensation (GPMB) along with the disbursement of key projects such as Ring Road 3, Ho Chi Minh City – Thu Dau Mot – Chon Thanh Expressway, and Ring Road 4 are being urgently implemented. These projects are expected to be disbursed in September.

Regarding the issue of Di An City’s road closures that has caused public outrage, Mr. Vo Anh Tuan affirmed that changes must bring about better convenience and traffic safety. If the road closures are still ineffective, the province will work with Di An City to ensure strict enforcement of the law.

GRDP increased by nearly 6.2%

According to the report of the People’s Committee of Binh Duong province, 2024 is a year of acceleration and breakthrough, which is of special significance in successfully implementing the 5-year Socio-Economic Development Plan (2021 – 2025) and the Resolution of the 11th Provincial Party Congress. From the beginning of the year, the Provincial People’s Committee has issued plans and documents to implement the Resolutions of the Government, the directions of the Central Ministries, the Provincial Party Committee, and the Provincial People’s Council on socio-economic development.

Ms. Truong Thi Bich Hanh, Head of the Propaganda Department of Binh Duong Provincial Party Committee, praised press agencies in the province for their important contributions to the overall development of Binh Duong in recent times.

To date, Binh Duong’s gross regional domestic product (GRDP) has increased by 6.19% over the same period in 2023 (in the same period, it increased by 3.55%). Of which, industry and construction increased by 5.81%; services increased by 7.36%; product taxes minus product subsidies increased by 7.2%; agriculture, forestry and fishery increased by 3.29%.

Industrial production activities have improved, with the province’s key export sectors gradually recovering. However, the supporting industry is still facing difficulties due to high costs of raw materials and transportation, as well as strong competition in the export market. The province’s industrial production index increased by 5.63% over the same period in 2023. Industrial parks have leased 79.22 hectares of land and attracted 944 million USD in foreign investment, accounting for 88.64% of the total investment capital in the province.

Agencies

Press agencies

Binh Duong has also organized the groundbreaking ceremony for the An Lap industrial cluster (75 hectares) and is studying investment in a concentrated mechanical industrial park and information technology park to attract the automobile mechanical and high-tech industries.

In the field of trade and services, Binh Duong has effectively implemented the market stabilization program and stockpiled goods during the 2024 Lunar New Year. The locality also implemented promotional programs, stimulated consumption, combining traditional trade and e-commerce. Total retail sales of goods and service revenue reached 195 trillion VND, up 13% over the same period in 2023.

The province’s market management force regularly inspects and controls prices of essential goods such as gold and gasoline, while strengthening control measures and combating smuggling, trade fraud and counterfeit goods.

Binh Duong’s import and export activities maintained a fairly high growth rate compared to the same period last year. Export turnover reached 18.9 billion USD, up 8.6%, while import turnover reached 13.5 billion USD, up 10.6%. The province’s total social development investment capital reached 68,949 billion VND, up 6.8% over the same period.

Source: Môi trường và Đô thị.