The southern province of Binh Duong is making every effort to improvethe environment for investment, production and business in a bid toboost its provincial competitiveness index (PCI), according to Chairmanof the provincial People’s Committee Le Thanh Cung.
The PCIranking recently announced by the Vietnam Chamber of Commerce andIndustry shows that the PCI of the province, one of the biggesteconomic hubs in the south fell behind 29 other localities nationwide.Despite this, the locality’s investment environment has seen aremarkable improvement in recent times.
According to Mai HungDung, director of the provincial Department of Planning and Investment,there are over 2,276 foreign enterprises operating in the province,making up more than 80 percent of the local industrial productionsector.
In the first three months of 2014, foreign directinvestment (FDI) poured into the locality accounted for 44 percent ofthe country’s total FDI, up two times against the same period last year.
Preliminary data showed that the production and export indexsaw strong increases in the first quarter of this year, with 12.3percent and 12.7 percent rises in industrial production and exportrespectively.
The province has licensed 363 domestic enterprisesworth 2 trillion VND (94 million USD) so far this year, while up to 56FDI projects were granted investment licenses and registered to raiseexisting capital, with a total investment of 728 million USD during thelast three months.
The performance shows investors had faithin Binh Duong’s investment environment and that the province is eagerto support investors as part of its efforts to continually improve itsbusiness climate
The province recorded GDP growth of 12.8percent last year and is targeting 13 percent growth for this year. Itis predicted that the industry sector will grow 16 percent, trade andservices 20 percent, and agriculture 4 percent this year, up on lastyear’s results of 8.7 percent, 19.6 percent and 1.8 percentrespectively.
The PCI programme is part of the US Agency forInternational Development’s Vietnam Competitiveness Initiative(USAID/VNCI), which has been implemented since 2005. All 63 provincesand cities have used PCI to devise their own economic policies anddevelopment strategies.-VNA
The PCIranking recently announced by the Vietnam Chamber of Commerce andIndustry shows that the PCI of the province, one of the biggesteconomic hubs in the south fell behind 29 other localities nationwide.Despite this, the locality’s investment environment has seen aremarkable improvement in recent times.
According to Mai HungDung, director of the provincial Department of Planning and Investment,there are over 2,276 foreign enterprises operating in the province,making up more than 80 percent of the local industrial productionsector.
In the first three months of 2014, foreign directinvestment (FDI) poured into the locality accounted for 44 percent ofthe country’s total FDI, up two times against the same period last year.
Preliminary data showed that the production and export indexsaw strong increases in the first quarter of this year, with 12.3percent and 12.7 percent rises in industrial production and exportrespectively.
The province has licensed 363 domestic enterprisesworth 2 trillion VND (94 million USD) so far this year, while up to 56FDI projects were granted investment licenses and registered to raiseexisting capital, with a total investment of 728 million USD during thelast three months.
The performance shows investors had faithin Binh Duong’s investment environment and that the province is eagerto support investors as part of its efforts to continually improve itsbusiness climate
The province recorded GDP growth of 12.8percent last year and is targeting 13 percent growth for this year. Itis predicted that the industry sector will grow 16 percent, trade andservices 20 percent, and agriculture 4 percent this year, up on lastyear’s results of 8.7 percent, 19.6 percent and 1.8 percentrespectively.
The PCI programme is part of the US Agency forInternational Development’s Vietnam Competitiveness Initiative(USAID/VNCI), which has been implemented since 2005. All 63 provincesand cities have used PCI to devise their own economic policies anddevelopment strategies.-VNA
