The economy of Binh Duong grows positively and recovers strongly

DNHN - In the first quarter of 2024, Binh Duong province’s socio-economic situation continued to have positive changes, gradually recovering well, with most indicators increasing compared to the same period in 2023.

On the afternoon of April 23, the Binh Duong Provincial People’s Committee held a press conference to provide information on the socio-economic situation, national defence and security in the first quarter of 2024. The press conference was chaired by Mr Vo Anh Tuan, Chief of the Office of the Provincial People’s Committee, and Mr Le Tuan Anh, Director of the Department of Information and Communications.

At the press conference, representatives of the Binh Duong Provincial People’s Committee provided information on the socio-economic development situation, national defence and security in the first quarter and the first four months of 2024, and the key tasks for the second quarter.

Accordingly, Binh Duong province’s socio-economy continued to have positive changes, gradually recovering well, with most indicators increasing compared to the same period in 2023.

Specifically, the economic sector grew highly and quite evenly in all regions; the province’s GRDP growth rate in the first quarter increased by 5.27% compared to the same period in 2023; the industrial production index in the first quarter is estimated to increase by 3.87%; and the accumulated growth in the first four months increased by 4.29% compared to the same period. Industrial parks attracted USD 167 million in foreign investment; the total retail sales of goods and service revenue in the first quarter is estimated to reach VND 81,177 billion, an increase of 12.5%, and the accumulated growth in the first four months reached VND 109,375 billion, an increase of 13.02% compared to the same period.

Export turnover reached USD 8 billion, an increase of 16.2%; the accumulated growth in the first four months reached USD 11 billion, an increase of 15.6% compared to the same period. Import turnover reached USD 5.4 billion, an increase of 6.3%; the accumulated growth in the first four months reached USD 7.6 billion, an increase of 10.5% compared to the same period.

Budget revenue is estimated to reach VND 22,072 billion, reaching 31% of the estimate assigned by the Prime Minister, an increase of 2% compared to the same period; total budget expenditure is estimated at VND 4,653 billion, reaching 16% of the estimate, an increase of 23% compared to the same period. The total disbursed value of public investment capital is VND 1,958 billion, reaching 12.8% of the plan assigned by the Prime Minister. The total social development investment capital is estimated to reach VND 31,426 billion, an increase of 5.9%.

Domestic investment has attracted VND 19,838 billion in registered business capital (an increase of 0.7% compared to the same period). To date, the province has 67,962 enterprises with a total capital of VND 747 trillion; foreign investment: has attracted USD 272.4 million (reaching 33% compared to the same period). To date, the province has 4,280 foreign investment projects with a total capital of USD 40.6 billion.

In addition, Binh Duong province is finalising the Binh Duong Provincial Planning for the 2021-2030 period, with a vision for 2050, based on comments from the National Appraisal Council. At the same time, the province is also carrying out investment procedures for 8 social housing projects with a scale of 39 hectares, including 13,046 apartments and a total floor area of approximately 933,514 m2.

In the coming time, Binh Duong will focus on removing difficulties and obstacles for people and businesses. Effectively implementing solutions of the State Bank, creating conditions for people and businesses to access credit capital. Organising trade promotion activities, international cooperation, announcing a list to attract new-generation industrial investment: green energy, semiconductor chips, electronic microcircuits, etc.; developing criteria for developing high-tech ecological industries. Completing the project to support the relocation of production and business establishments and enterprises from the South to industrial parks and clusters in the northern localities. Closely monitoring weather developments, ensuring irrigation water and agricultural production materials. Strengthening forest protection and natural disaster prevention. Completing the 5-year land use plan (2021 - 2025); focusing on removing difficulties in land price appraisal to serve compensation, site clearance and determining financial obligations for land for investors to implement projects. Completing the project to exploit land funds, create revenue from land to serve the socio-economic development of the province in the 2024-2025 period and orient towards 2030.

Van Nguyen