PM commends Binh Duong for dynamic, efficient investment, business climate
Prime Minister Pham Minh Chinh on September 26 attended a conference to announce the master plan of Binh Duong province in the 2021-2030 period, with a vision to 2050, during which he praised the southern locality’s efforts in creating a dynamic and efficient investment and business environment; a harmonious, humane, and sustainable society; and a transparent local administration.
Chinh noted that after nearly 30 years of formation and development, Binh Duong has made significant strides, transforming itself from an agricultural land into a modern high-tech industrial centre which has attracted thousands of foreign direct investment (FDI) projects, and created millions of jobs.
The province's GRDP has increased nearly 125-fold over the past nearly 30 years. Its 2023 per capita GRDP reached 172.5 million VND (7,000 USD), 1.7 times the national average, ranking it fifth among the 63 provinces and cities. The urbanisation rate reached 85%, placing Binh Duong second in the country.
It is a leading destination for FDI in Vietnam. As of late August, Binh Duong had attracted over 4,300 FDI projects with a total investment of more than 41.8 billion USD, ranking third in the country.
Pointing out some limitations in the province's development process, the Government leader emphasised that the master plan is a product of the brainstorming of the intellect of the provincial Party Committee, authorities, and people, as well as scientists, the business community, and citizens nationwide; and it represents the crystalisation of the past, present, and future, and inheritance, innovation, and development.
To successfully implement the master plan, he urged the province to take the lead in connecting the economy with regions, nations, and the whole world; pioneer in greening and digitalising the economy, proactively developing the digital economy, green economy, circular economy, sharing economy, knowledge economy, and night economy; and take the initiative in building new-generation industrial zones in a green, digital, high-tech, and smart direction, encouraging innovation and start-ups, and focusing on training high-quality human resources.
Binh Duong must maximise its resources and leverage its historical and cultural traditions, and accelerate public-private partnerships, and strategic infrastructure investment, particularly in transportation, urban development, climate change adaptation, and digital infrastructure, Chinh stressed.
Additionally, he highlighted the need to focus on investing in education and training to develop high-quality human resources, issuing priority policies to improve public knowledge and attract talents, enhancing administrative reforms, and improving the investment and business environment.
The Prime Minister also expressed his hope that businesses in the province will take the lead in innovation, green and digital transformation, technology transfer, and smart and modern governance; develop high-quality human resources; and provide feedbacks on administrative reforms and improvements to the investment and business environment.
The master plan aims for Binh Duong to become a centrally-run city by 2030, a dynamic and comprehensive development hub in Southeast Asia, and a modern industrial and service centre, and to lead in science, technology, and innovation.
By 2050, Binh Duong aims to be a sustainable urban industrial and service centre and serve as a driving force for national economic development, with its main growth boosters being industry, services, and innovation, supported by a robust, and highly competitive economic foundation. Residents are expected to enjoy a high quality of life, with income levels comparable to those of developed countries.
At the conference, in the presence of the Prime Minister, Binh Duong authorities presented investment policy approval decisions and investment registration certificates for eight projects licensed in 2024, with a total registered investment of over US$1.8 billion in numerous fields such as infrastructure, urban development, textiles, and machinery.
Earlier the same day, Chinh inspected the direction to build the Ho Chi Minh City – Thu Dau Mot – Chon Thanh expressway project. The expressway, running from Ho Chi Minh City through Binh Duong to Binh Phuoc province, has a total investment of over VND17.4 trillion .
He also visited the Electric Energy Show 2024 and the Automation World Vietnam 2024 which are underway in Binh Duong from September 25-27.
