Increase on industrial density
In the early 90s, in order to well implement the policy of “rolling out the red carpet for investors”, local leaders set out proper ways to constantly improve investment environment for the sake of attracting more and more enterprises inside and outside of the country. The provincial party committee realizes that economic cooperation, joint venture with foreign nations are proper ways to approach science, technology, managerial experience, skill for penetrating into regional and international market. It is also conditions for spurring export, increasing competitive capacity, transferring economic structure in conformity with international economic situation.
To carry out the instruction, the provincial administration focused on developing large-scaled industrial parks. As of the end of 1996, Binh Duong province zoned 15 industrial parks with the area of 6,000ha, 3 of which were Song Than, Binh Duong and Tan Dinh under operation. Especially, also the same year, Vietnam-Singapore industrial park 1 (VSIP 1) with the initial area of 500ha was also built in Thuan An district (Thuan An town). This is the first exemplary industrial park of the whole country and the model of joint venture industrial park has been presently applied in some provinces and cities.
With strong investment in infrastructure facility in service for industrial development, the local economic structure in the short time showed a great change of increasing industrial density. In 1990, local industrial density accounted for only 10.35%. 5 years later, the figure jumped at 25%. It is really an important step for the local future process of industrialization and modernization.
As of late 1996, the province zoned 15 industrial parks with 6,000 hectares in total. In the picture: A glance of Vietnam-Singapore 1 Industrial Park
Growth maintained
Under the leadership of the local Party Committee plus the integral efforts by the business community and people, Binh Duong’s socio-economic performance saw a steady growth during the first years of the local five-year socio-economic development plan for 1996-2000 with difficulties. There was a robust growth in terms of industry, agriculture and trade-services. The local economic structure continued shifting towards the growth of industry, agriculture-forestry and services. Social fields in the province reaped much great progress; the issue of employment was solved very effectively. There was also a change in the quality of fields in terms of culture, education and health. The local social order and security continued being maintained; the building work of the Party, government, Fatherland Front and other mass organizations obtained important results.
During the period, the province put focus on processing and exploitation industries; effectively upheld the capacity of existing industrial parks; further put forward more open policies to absorb domestic and foreign investors; expanded joint ventures to innovate technologies for industries of building materials, hi-class potteries, farm produce processing; effectively exploited mineral resources; continued promoting the processing of agricultural products like cashew nuts, rubber latex, coffee…Agricultural and trade fields also received pertinent investment, contributing to the local development.
Reported by Tri Dung-Translated by K.T