Over recent years, the industrial development of Binh Phuoc has been enjoying a high growth rate, creating valuable products to meet domestic as well as export demands, making important contribution to the economic restructure, creating employment and improving incomes for workers.
Flourishes
During 2011-2015, industrial growth rate in the province (at constant 2010 price) reached an average of 9.85 percent/year; average industrial structure accounted for over 17 percent of gross regional domestic product (GRDP). By now, the province has about 780 industrial manufacturing enterprises, 12 industrial zones and 28 industrial complexes. Industrial products are getting more diverse, new industrial products (apparel, footwear, cement, natural rubber made pillows and mattresses, rubber, wood and furniture) are quick to find their standing in domestic market as well as reaching out to the world.
Talking about this success one must mention the efficiency of the program Developing Provincial industrial products Period 2012-2015 launched by Binh Phuoc Provincial People's Committee under Decision 1638/QD-UBND dated 17th August 2012 with the aim of maintaining the high growth of industrial development, gradually levitating the industrial sector into a motivational role, contributing to the development of socio-economic of the province. After more than three years of implementation, the program has helped investors upgrade technological equipment, implementing quality management system of international standards, improving labour productivity and management skills, enhancing competitiveness and strengthening integration into world markets, contributing to the economic development of the province. Some prioritized industries have brought initial positive results such as cashew processing; rubber products; wood processing; cement and clinker products; electronics; textiles; and footwear.
According to Director of the Department of Trade and Industry of Binh Phuoc, Mr Nguyen Anh Hoang, in order to improve the efficiency of industrial development, the trade and industry sector had been paying more attention to assisting businesses in the area in accelerating the application of science and technology and machinery innovation, strengthening competitiveness on domestic and foreign markets through various programs, schemes, plans as well as specific regulations such as: Review and Identification of key industrial products of the province for WTO integration period 2011 - 2015; Implementation Plan of Export-Import Strategy period 2013-2020, orientation towards 2030; Planning for Support Industry Development in Binh Phuoc to 2020 and vision towards 2030. The sector also promoted industrial promotion activities; supported businesses and rural establishments in the manufacture and sale of products with a total budget of industrial promotion for 2011-2015 was VND12.62 billion.
Improving competitiveness
The period 2016-2020 has been identified as an important stage, creating momentum for the industrialization and modernization of Vietnam as well as the country’s international economic integration, promoting Vietnam’s active contribution to the Asia - Pacific Economic Cooperation Forum (APEC) that Vietnam will be hosting in 2017. Especially Vietnam has officially joined the Trade Promotion Agreement of the Development Triangle Area of Cambodia - Laos - Vietnam, the European Free Trade Agreement (EFTA), ASEM as well as a series of new FTAs (TPP, Vietnam - EU FTA, Vietnam - Korea FTA, and Vietnam - the Customs Union (Russia, Belarus, Kazakhstan) FTA). On the other hand, in terms of the implementation of area planning of HCMC to 2020 and vision to 2050 (under Decision 1065/QD TTg dated 3rd July 2014 of the Prime Minister), Binh Phuoc province is the northern counterweight of HCMC area; thereby creating the opportunity to promote local strengths and develop infrastructure, contributing to the development of economic structure. Meanwhile partnerships between Ho Chi Minh City, Binh Phuoc and Binh Duong are becoming more effective and in-depth.
To exploit this opportunity, Mr Hoang said that Binh Phuoc was focusing on improving the quality of growth tied to continue economic restructuring, striving to become a modernized industrial province by 2020. To accomplish this objectives, the province had been paying attention to the industrial restructure towards developing fields and products of competitive advantage in association with the transformation of growth pattern; improving quality, efficiency and competitiveness of the sector; making good use of local potential and advantages. The province had implemented economic restructuring of the industry towards increasing the share of processing industry, particularly the in-depth processing of rubber, cashew, pepper, wheat starch, industrial products used in agriculture and serving rural economy; reducing raw material import to enhance added value, as well as improve the quality, efficiency and competitiveness of industrial products. The goal was to raise Binh Phuoc’s industrial production value (constant 2010) to VND45,750 billion; average growth rate 11.88 percent/year.
Bao Chau
Vietnamese
