Attending was Mr. Nguyen Loc Ha - Member of the Standing Committee of the Provincial Party Committee, Vice Chairman of the PPC along with members of the Provincial People's Committee, leaders of departments and branches. The meeting was delivered online to the People's Committees of districts and cities in the province.
The economy has changed clearly
In 2024, the province's socio-economic situation maintains positive development and achieves positive results in all fields. Economic growth has seen clear changes each month and each quarter, and the economic structure has shifted in the right direction. The proportion of industry and services has remained stable, reaching over 90% of the total scale of the economy.
Trade, service, import, and export activities continue to grow, and the environment to attract domestic and foreign investors has been improved. Social security, employment, and vocational training policies are well implemented. National defense and security work is maintained. The province has synchronously implemented key administrative reform tasks. The online public service portal has been deployed synchronously and connected smoothly to 100% of communes, wards, and towns.
Overview of the meeting
Gross Regional Domestic Product in the province (GRDP) is estimated to increase by 8.01% (planned to increase by 8.0 - 8.5%). GRDP per capita reached 182.6 million VND (planned 185.5 million VND). Economic structure: industry - service - agriculture - product tax minus product subsidies with corresponding proportions of 64.83% - 25.06% - 2.73% - 7.38% (planned 65 .95% - 24.35% - 2.51% - 7.19%).
Industrial production achieved good growth over the same period, and key industries recovered positively and stabilized. The index of industrial production (IIP) is estimated to increase by 7.6% compared to 2023 (planned to increase by over 8.7%). Total retail sales of goods and service revenue are estimated at 352,000 billion VND, an increase of 13.3% (reaching the plan to increase of 13-14%).
Export and import activities maintained a good growth rate over the same period. Export turnover reached 34.5 billion USD, up 12.7% (planned to increase 9-10%). Import turnover reached 24.5 billion US dollars, up 12.2% (planned to increase 9-10%).
Discussing at the meeting, Mr. Nguyen Tran Hieu - Director of Binh Duong Provincial Customs Department said that the fields of export, import, and budget collection up to now have reached nearly 96% of the plan, and from now until the end of the year, they will probably reach nearly 96% of the plan. In which, taxes related to iron and steel production will be increased dramatically, and the recovery of the market will help improve the profit margins of steel manufacturing enterprises. However, the export forecast for 2025 has many potential risks and challenges, and it is difficult to maintain growth like in 2024. Especially in the US, our country's largest export market may be affected by new policies related to tariff barriers. Viet Nam accounts for more than 40% of ASEAN's imported goods into North America, in which 3 key goods of Binh Duong include wood, textile products, and footwear. In 2025, Binh Duong Customs Department will create favorable conditions for import and export businesses; expand types of import and export; create convenient procedures for imported and exported goods via e-commerce and waterways; and preventive measures to strictly control counterfeit import and export goods. Rearranging the Customs Department in the province close to industrial parks to promptly support and guide businesses; enhancing comprehensive digital transformation in State management of customs, etc.
Representatives discuss at the meeting
Total social development investment capital is estimated at 162,000 billion VND, an increase of 11% (reaching the plan to increase 11%). By November 18, 2024, the total value of public investment disbursement is 7,427 billion VND, reaching 35.4% of the plan assigned by the Provincial People's Council (reaching 58.8% of the plan in the same period) and 48.6% of the plan assigned Prime Minister.
Domestic investment has attracted 71,000 billion VND of business registration capital (down 10.5% over the same period). Accumulated until now, the whole province has 72,800 domestic enterprises with a total registration capital of 798,000 billion VND.
Foreign investment has attracted 1.68 billion US dollars (reaching 88% of the plan, up 18% over the same period). Accumulated until now, the whole province has 4,370 foreign-invested projects with a total registration capital of 42.1 billion USD.
Mr. Pham Trong Nhan - Director of the Department of Planning and Investment commented that with the current growth rate, it is expected that by the end of the year, the province will attract 1.8 billion USD, reaching the target to attract foreign investment in 2024. The trend of FDI flows to Asia, ASEAN, and Viet Nam will continue to be maintained in 2025. Currently, capital flows continue to flow to Binh Duong. Thus, FDI will continue to be the province's bright spot in 2025. Binh Duong continues to have many advantages, along with that, if key projects start construction promptly, it will certainly create leverage to promote the socio-economic development of the province.
11 key solutions for socio-economic development in 2025
The Provincial People's Committee identified 36 main targets for 2025. In particular, striving to increase GRDP by 8 - 8.5%; GRDP per capita of 195 million VND; Economic structure: industry - services - agriculture - product taxes minus product subsidies with corresponding proportions (63.81% - 26.34% - 2.66% - 7.19%); The index of industrial production (IIP) increases by over 8.7%; Total export turnover increases by 9 - 10%; Total import turnover increases by 9 - 10%; Total State book revenue in the area is 74,320 billion VND; attracting foreign direct investment capital of 1.8 billion USD, etc.
Binh Duong develops 11 key solutions for socio-economic development in 2025
To achieve the socio-economic goals set for 2025, the Provincial People's Committee develops 11 key solutions. In particular, priority is given to promoting economic growth to ensure the stability of major balances. Continuing to restructure the economy towards improving productivity, quality, efficiency, and competitiveness. Improving the business environment, promoting entrepreneurship, and creativity, and developing the collective and private economy. Enhancing mobilization and effective use of synchronous infrastructure investment resources. Regarding urban planning and development, improving the quality and effective use of human resources is associated with promoting innovation, application, and development of science and technology. Besides, cultural and social development; making progress and social justice, improving people's lives, and harmoniously connecting economic and social development. Proactively responding to climate change, implementing sustainable development goals, strengthening resource management and environmental protection. Improving the effectiveness and efficiency of state management; Administrative reform, prevention of corruption and waste. Consolidating and strengthening national defense and security; maintaining political security, social order, and safety. Effectively deploying foreign affairs and international integration activities.
Specifically, increasing investment, consumption, and export, restructuring the economy towards innovating growth models, and improving competitiveness and sustainable development. It needs to focus on developing the digital economy, green economy, circular economy, and night economy. Creating a favorable environment to attract investment, especially in the field of high technology and potential industries such as semiconductors, innovation, etc. It is necessary to encourage businesses to invest in technology research and development.
Resolving difficulties in mechanisms and policies and promoting completion of key projects. Accelerating the disbursement of public investment capital from the beginning of 2025 and eliminating ineffective projects, prioritizing resources for regional connection projects.
Promoting e-commerce and expanding import-export markets, reducing dependence on traditional markets. Stabilizing prices and supply and demand for goods, preventing origin fraud.
Industrial development is associated with urban infrastructure and international integration to promote other economic sectors. Accelerating the progress of large projects, attracting investment in high technology such as semiconductor chips, clean energy, and artificial intelligence. IIP target in 2025 increases by over 8.7%.
Developing a suitable industrial park network, especially green and ecological industrial parks. Increasing localization in supporting industries and participating in the global value chain. Attracting strategic investors, forming a key economic ecosystem, etc.
Mr. Vo Van Minh – Chairman of the Provincial People Committee concludes the meeting
Speaking to conclude the meeting, Chairman of the Provincial People's Committee Vo Van Minh requested that all levels and sectors focus on exploiting revenue sources and saving regular expenses. Focusing on completing procedures to increase land revenue from industrial zones and clusters. Focusing on increasing the allocation of revenue from public land fund auctions to put into public investment. In addition, it needs to focus on removing difficulties and obstacles and promoting the disbursement rate of public investment in construction and compensation. Striving to complete the public investment target of 100% of the plan assigned by the Prime Minister in 2024 and recalculating capital sources and construction projects prepared for investment in 2025. Strengthening the removal of difficulties and obstacles for businesses and people to promote socio-economic development; Better implementation of social security policies.