Striving for US$6 Bln+ Export Value

9:49:29 AM | 15/9/2020

Over the past time, the Department of Industry and Trade of Binh Dinh province has carried out many positive and consistent solutions to accelerate public administration reform to effectively serve citizens and businesses and facilitate production and business development to achieve many important results.

Positive imprints

In the 2016 - 2020 period, the Binh Dinh industry and trade sector developed impressively. The Index of Industrial Production (IIP) rose 7.5-7.8% a year in the 2016 - 2020 period. The industrial production value was estimated at VND48,050 in 2020, an increase of 51% over 2015 and 6.7% over 2019. The 5-year value (2016 - 2020) was forecast at VND206,131 billion, equivalent to 95.5% of the plan specified in the Resolution (the target of the Action Plan: VND215,897 billion). The average industrial growth rate was 8.6% a year in the 2016 - 2020 period, lower than the target of 10.6% set in the resolution. Total retail revenue of goods and services was estimated at VND324,592 billion in the 2016 - 2020 period, rising by 10.3% a year on average, 2.4% higher than the target growth of 7.9%. The export value was estimated at US$4,146.2 million in 2016 - 2020, fulfilling 92.1% of the plan set in the Resolution of the 19th Congress of the Provincial Party Committee. The average export growth was estimated at 6.7% a year.

Processing and manufacturing are breakthrough industries

To create a breakthrough in economic development, the Binh Dinh industry and trade sector determined to give priority to processing and manufacturing industry. In 2016 - 2019, its production valued VND151,301 billion, rising 9.2% a year on average. Currently, the processing and manufacturing sector created jobs for about 102,784 workers, accounting for 93.4% of the industrial workforce.

Stemming from its strengths in natural resources, raw materials (minerals, forest and aquatic products) plus advantages of human resources and transportation system, the processing industry of Binh Dinh strongly developed some fields like wood and forest products, aquatic products, minerals, apparels, animal feeds and tapioca. In recent years, Binh Dinh province attracted 240 wood processing enterprises, capable of processing over 345,000 containers, 2 million tons of wood chips and 1.2 million tons of wood pellets a year. The sector employed 24,000 workers. Binh Dinh has nearly 60 garment factories that make over 40 million products a year and hire about 15,000 workers. The province is home to 90 quarrying companies capable of making 76,000 cubic meters of monolith stone, 2.3 million square meters of granite and 1 million cubic meters of ground stone and employing about 7,000 workers. Wood and garment processing industries employ 70% of workers in industrial enterprises and account for 68% of the total export value (wood and forest products alone account for over 50%).

Continuing its achievements in the past term, in the 2021 -2025 term, Binh Dinh will strive for rapid and sustainable growth. Binh Dinh province specifically targets to achieve an industrial production value of VND76,700 billion in 2025, an increase of 59.6% compared to 2020, and VND321,100 billion in the 2021 - 2025 period, recording a year on year average growth of 9.8%. Total retail revenue of goods and services will reach VND123,500 billion in 2025, an increase of 64.6% over 2020, totaling VND496,300 billion in the five-year period, a year on year growth of 10.5%. The export value will amount at US$1.4 billion in 2025, 36.5% more than in 2020, grossing US$6.030 billion in 2021 - 2025 and growing 7.6% a year.

Public administration reform efforts

Mr. Ngo Van Tong, Director of the Binh Dinh Department of Industry and Trade, said, the department thoroughly grasped governmental policies, directives and resolutions to bring them into life.

The department defined that administrative reform is one of key tasks to effectively implement its political tasks. In addition to good public administration reform, the agency also reports recommendations and suggestions of local organizations, individuals and businesses to higher authorities to promptly support and remove their difficulties. The department focuses on reforming administrative procedures and proposing solutions to improve such administrative performance indicators like PAPI, SIPAS and PCI.

In the 2021 -2025 administration term, Binh Dinh province will strive to achieve an export value of over US$6 billion.

Source: Vietnam Business Forum