Binh Duong enjoys 9.5 percent GDP growth in six months
The southern province of Binh Duong enjoyed a 9.5 percent GDP growth in the first half of 2014 as compared to the same period last year, according to a report by the provincial People’s Committee.
Industry-construction sector saw a 7.2 percent rise year on year, while service sector rose 13.2 percent and agriculture, 1.1 percent, said the report.
Particularly, the province’s industrial production in the first six months of this year hit VND81.8 trillion, up 12.5 percent compared to the same period last year, with domestic sector enjoying 14 percent increase, and foreign-invested sector, 11.7 percent.
In the first half of 2014, Binh Duong attracted US$990 million in foreign direct investment (FDI), almost fufilling its yearly target of US$1 billion, according to the report.
At the same time, its exports grew by 13.2 percent, reaching US$6.7 billion in total revenue. The locality’s combined retails and service revenue was nearly US$52 trillion, up 18.5 percent year on year, with domestic sector accounting for 97.2 percent.
According to Vo Van Cu, head of the provincial Industry and Trade Department, production of local enterprises was also gained higher rate of growth as compared to the rate of 11.9 percent in the first half of last year.
Almost all enterprises have enough order to keep them busy until the end of the year, signaling a bright prospect for the rest of 2014, Cu said.
Despite impacts of the recent incident, caused by some individuals taking advantage of local workers’ protests against China’s illegal placement of its oil rig in Vietnam’s waters, local businesses maintained their production thanks to timely and effective response and support of the local government, he added.