Introduction
Thứ 6, Ngày 05/04/2024, 16:00
General information on the economic situation in Binh Duong Province
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05/04/2024

​PORTAL - Gross regional domestic product  (GRDP) in the first 6 months of 2023 increased by 3.76% compared to the same period in 2022 (same period increased by 5.97%); of which: industry-construction increased by 2.94%; services increased by 5.9%; agriculture, forestry, and fisheries increased by 3.28%; products taxes minus subsidies on products increased by 5.62%. It was expected that GRDP in 2023 would increase by 6.0% over the same period (the plan was by 8 - 8.3%).

The industry sector maintains a high growth rate and plays an important role in promoting the development of other sectors of the economy. Accumulated for 8 months, the Index of industrial production increased by 3.4% over the same period (of which processing and manufacturing industry increased by 3.5%; water supply and wastewater and garbage treatment increased by 3.1%; mining decreased by 1.9%; electricity production and distribution decreased by 2. 9%). It was estimated that by the end of 2023, the Index of Industrial Production (IIP) would increase over 6.5% (the plan was to increase over 8.7%/year).

Regarding industrial park and industrial cluster activities: in the first 6 months of 2023, secondary investors invested in building infrastructure and factories with a total capital of 994 billion VND (equal to 46.5% compared to the same period), industrial parks have leased 31 hectares of land, attracting 382 million USD of foreign investment (accounting for 72% of the whole province). Enterprises in the industrial park have disbursed 998 million USD, revenue reached 18.7 billion USD, and exports reached 11.8 billion USD (accounting for 78.1% of the whole province). The province has focused on implementing land procedures, planning, infrastructure construction of VSIP III phase 2, and investment procedures for Cay Truong Industrial Park according to regulations.

The trade and services sector maintains a good growth rate, promoting international economic integration, and performing well in the function of supplying and consuming goods to serve the production, export, and import process. Total retail sales of goods and service revenue in the first 8 months of the year reached 200,415 billion VND, increased by 12.9% over the same period and it is estimated to increase by 14%/year by the end of the year (the plan was to increase by 15%). The eight-month average consumer price index increased by 3.3% over the same period, gold price increased by 2.5%, and the USD index increased by 2.5%.

Export and import: accumulated in 8 months, export turnover reached 20 billion 418 million USD, decreased by 15.3% over the same period, estimated for the whole year 2023 to reach 32 billion 600 million USD. Import turnover reached 14 billion 310 million USD, down 15.5% over the same period, estimated for the whole year 2023 to reach 23 billion 100 million USD.

Binh Duong has focused on developing sustainable and effective agriculture, increasing the scale of agricultural product production, ensuring the ecological environment, and adapting to climate change. Currently, the coverage rate of forestry and perennial trees is always maintained at 57.5%; 100% of communes and 50% of districts in the province are recognized as meeting new-style rural standards. It was expected that by the end of 2023, 100% of communes would meet advanced new-style rural standards; and 100% of rural residents would use clean and hygienic water.

Total social development investment capital was estimated at 109,924 billion VND, an increase of 11.4% over the same period. Of which, State capital was 13,713 billion VND, an increase of 91.6%; non-state capital was 53,041 billion VND, an increase of 4.4%; foreign investment capital was 43,170 billion VND, an increase of 6.1%, estimated to reach 164,300 billion VND for the whole year 2023.

Attracting foreign investment continues to achieve many positive results. In the first 8 months of 2023, it attracted 01 billion 275 million USD (reaching 70.8% of the plan, equal to 49% over the same period), including 80 new projects (453 million USD), 24 projects adjusted to increase capital (82 million USD), 28 capital contribution projects (66 million USD) and 04 capital reduction projects (15 million USD). Accumulated to August 31, 2023, the whole province had 4,162 foreign-invested projects with a total registered capital of 40.2 billion USD.

Budget: The new budget revenue was estimated to reach 4,461 billion VND. Accumulated revenue in 8 months reached 41,340 billion VND, equal to 93% over the same period, reaching 61% of the Provincial People's Council estimate. Of which, domestic revenue was 31,090 billion VND, up 2% over the same period, reaching 65% of the Provincial People's Council's estimate; Revenue from export and import was 10,250 billion VND, equal to 73% over the same period, reaching 51% of the Provincial People's Council estimate. Local budget balancing expenditure was estimated at 1,230 billion VND. Accumulated expenditure in 8 months reached 11,400 billion VND, up 19% over the same period, reaching 38% of the Provincial People's Council's estimate.​

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Introduction