Binh Duong set to become economic hub by 2020

Binh Duong set to become economic hub by 2020

The southern province of Binh Duong is set to become a centrally-run city, acting as a core centre for socio-economic development in the southern key economic region by 2020.

Under a new master plan for the province’s socio-economic development by 2020, which was approved by Prime Minister Nguyen Tan Dung on June 11, Binh Duong will focus on promoting environmentally-friendly industry by applying high-tech and green technology.

At the same time it will also improve the modern infrastructure system for trade and services, while diversifying tourism products and developing agriculture in attachment with advancing biotechnology.

The locality’s annual economic growth in the 2011-2015 period will be adjusted downwards to 13.5 percent instead of the 14.9 percent stated in the 2007 plan.

The ratio of the service sector in its economic structure will increase to 38 percent from 30 percent, while that of the industry-construction sector, 59 percent from 62.9 percent. The figure will be 3 percent for agro-forestry.

The total population of the locality by 2015 is predicted to stay at 2.043 million. Its urbanisation proportion is predicted to stand at 70 percent, while per capital GDP will be 63.2 million VND (around 3,000 USD).

Binh Duong will also have under 1 percent of poor households by 2015, according to the plan.

For the 2016-2020 period, Binh Duong will finish its road to become a centrally-run city with an annual economic growth of 13 percent and per capital GDP of 135.2 million VND (6,170 USD) every year. Meanwhile, the ratio of poor households will be brought down to only 0.8 percent.

By 2020, Binh Duong is set to become one of the major industrial hubs in the region, focusing on wood processing, garment and textiles, footwear, rubber processing and food and beer for its key exports, among others.

The proportion of the support industry and green industry in economic zones is hoped to account for at least 30 percent of the province’s total exports.

Binh Duong expects to have 35 industrial parks by 2020, covering an area of 13,764 hectares. By 2025, it is planned to put 18 industrial clusters to operation with a total area of 1,190 hectares.-VNA

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