Binh Duong attracts 42 billion USD in foreign direct investment (FDI).

Key projects in Binh Duong have been promptly launched, creating a driving force to boost the province’s socio-economic development to continue flourishing.

Economic Recovery

According to the report, in 2024, Binh Duong’s socio-economic situation maintained positive development and achieved promising results across various sectors. Economic growth showed clear progress month by month and quarter by quarter, with the economic structure shifting in the right direction. The proportion of the industrial and service sectors remained stable, accounting for over 90% of the total economic scale.

Overview of the meeting.

Trade, services, and import-export activities continued to grow, and the investment environment for both domestic and foreign investors has improved.

Social welfare policies, employment solutions, and vocational training have been effectively implemented, while national defense and security have been maintained.

Binh Duong has comprehensively carried out key administrative reforms. The online public service portal has been fully deployed and seamlessly connected to 100% of communes, wards, and towns.

The province’s Gross Regional Domestic Product (GRDP) is estimated to increase by 8.01% (with a planned growth of 8.0 – 8.5%); the average GRDP per capita reached 182.6 million VND (target was 185.5 million VND).

Industrial production achieved considerable growth compared to the same period last year, with key industries recovering positively and stabilizing. The Industrial Production Index (IIP) is estimated to increase by 7.6% compared to 2023 (planned increase was over 8.7%). The total retail sales of goods and service revenue is estimated to reach 352 trillion VND, up 13.3% (meeting the target growth of 13-14%).

Binh Duong’s import and export activities have maintained a relatively strong growth rate compared to the same period last year.

Import and export activities have maintained a relatively strong growth rate compared to the same period last year. Export turnover reached 34.5 billion USD, up 12.7% (planned growth: 9-10%); import turnover reached 24.5 billion USD, up 12.2% (planned growth: 9-10%).

Total social investment capital is estimated at 162,000 billion VND, an increase of 11% (meeting the planned growth of 11%). As of November 18, the total disbursed public investment value was 7,427 billion VND, reaching 35.4% of the Provincial People’s Council’s plan (compared to 58.8% in the same period last year) and 48.6% of the Prime Minister’s plan.

Domestic investment attracted 71,000 billion VND in registered capital (down 10.5% compared to the same period last year). To date, the province has 72,800 domestic enterprises with a total registered capital of 798,000 billion VND.

Foreign investment attracted 1.68 billion USD (achieving 88% of the plan, up 18% compared to the same period last year). Up to now, Binh Duong has 4,370 foreign-invested projects with a total registered capital of 42.1 billion USD.

Foreign investment attracted 1.68 billion USD (reaching 88% of the plan, an 18% increase compared to the same period last year).

According to Mr. Pham Trong Nhan, Director of the Binh Duong Department of Planning and Investment, with the current growth rate, it is expected that by the end of the year, Binh Duong will attract 1.8 billion USD, meeting the foreign investment attraction target for 2024.

Mr. Nhan also stated that investment flows continue to pour into Binh Duong; thus, FDI will remain a highlight for the province in 2025. Binh Duong continues to have many advantages, and if key projects are promptly launched, they will certainly create a driving force to further boost the province’s socio-economic development.

Creating a Favorable Environment to Attract Investment

According to Mr. Vo Van Minh, Chairman of the Binh Duong Provincial People’s Committee, in 2025, Binh Duong has set 36 key targets. Among them, the province aims for GRDP growth of 8-8.5% and an average GRDP per capita of 195 million VND.

The Industrial Production Index (IIP) is expected to increase by over 8.7%; total export turnover to grow by 9-10%; total import turnover to increase by 9-10%. Total local revenue is projected at 74,320 billion VND, and foreign direct investment attraction is targeted at 1.8 billion USD.

Social housing areas are continuously being developed to ensure social welfare and attract human resources to Binh Duong.

To achieve the socio-economic goals set for 2025, Binh Duong has proposed 11 key solutions.

These include prioritizing economic growth to ensure stability of major balances. Continuing to restructure the economy toward improving productivity, quality, efficiency, and competitiveness. Improving the business environment, promoting startups, innovation, and the development of collective and private economies.

Strengthening the mobilization and effective use of resources for synchronous infrastructure investment. Regarding urban planning and development, enhancing the quality and efficient use of human resources linked with promoting innovation, application, and development of science and technology.

Binh Duong will create a favorable environment to attract investment, especially foreign investment in the high-tech sector.

Enhance the effectiveness and efficiency of state management; carry out administrative reforms, and combat corruption and wastefulness. Strengthen national defense and security; maintain political security and social order and safety. Effectively implement foreign affairs and international integration activities.

According to Mr. Minh, Binh Duong will continue to focus on developing the digital economy, green economy, circular economy, and night economy. The province aims to create a favorable environment to attract investment, especially in high-tech sectors and potential industries such as semiconductors and innovation. Enterprises are encouraged to invest in research and technology development.

Address difficulties related to mechanisms and policies, and promote the completion of key projects. Accelerate the disbursement of public investment capital from early 2025 and eliminate inefficient projects, prioritizing resources for regional connectivity projects.

Binh Duong is accelerating the disbursement of public investment capital.

Develop industry in close connection with urban infrastructure and international integration to promote other economic sectors. Accelerate the progress of major projects and attract investment in high-tech areas such as semiconductors, clean energy, and artificial intelligence. The target for the Industrial Production Index (IIP) in 2025 is an increase of over 8.7%.

Develop a suitable network of industrial parks, especially green and ecological industrial parks, increase localization in supporting industries, and participate in global value chains. Attract strategic investors to form a key economic ecosystem…

Removing Obstacles and Accelerating Public Investment Disbursement

Mr. Vo Van Minh, Chairman of the Binh Duong Provincial People’s Committee, has requested that all levels and sectors focus on maximizing revenue and saving on regular expenditures.

Mr. Võ Văn Minh, Chairman of the Binh Duong Provincial People’s Committee, requested that departments and localities focus on removing obstacles and

accelerating the public investment disbursement rate.

Focus on completing procedures to increase land revenue from industrial parks and clusters. Strengthen efforts to allocate revenue from public land auctions to public investment.

Prioritize removing difficulties and obstacles, accelerating the disbursement rate of public investment, especially in construction and compensation clearance. Strive to complete the public investment target at 100% of the plan assigned by the Prime Minister in 2024 and reassess funding sources and projects prepared for investment in 2025.

Additionally, enhance support to resolve difficulties for businesses and residents to promote socio-economic development; and better implement social welfare policies.