Binh Duong sets to achieve 8% GRDP growth this year
The southern industrial province of Binh Duong eyes to achieve a Gross Regional Domestic Products (GRDP) growth of 8% this year, heard a conference held by the provincial Party Committee on September 29.
At a wood processing factory in Binh Duong. (Photo: VNA)
Binh Duong (VNA) – The southern industrialprovince of Binh Duong eyes to achieve a Gross Regional Domestic Products(GRDP) growth of 8% this year, heard a conference held by the provincial Party Committeeon September 29.
The local economy is back on track post-pandemic, with theGRDP expanding 5.3% in Q1, 8.35% in Q2, and8.27% in Q3, compared to the corresponding periods last year. The nine-month figure was7.36% year-on-year.
With this trend, Binh Duong’s economic growthwill be likely to exceed 8%.
By the end of this year’s third quarter, the province had earnedan estimated 48.5 trillion VND (2.03 billion USD) in State budget revenue,representing 81% of the yearly plan. It attracted 2.6 billion USD in FDI duringthe period, 45% higher than the yearly goal and up 74% from a year earlier.
Its export turnover rose by 11.9% year-on-year to over27 billion USD while imports totalled more than 19 billion USD, down 1.6%year-on-year. Trade surplus stood at nearly 8 billion USD.
Industrial production continued to rise, with no disruptionsin supply chains reported despite impacts of global political uncertainties,according to Chairman of the provincial People’s Committee Vo Van Minh./.
The 2022 Horasis India Meeting, the foremost annual meeting of Indian business leaders and their global counterparts, opened in the southern province of Binh Duong – Vietnam’s FDI magnet - on September 26.
Minister of State at the Indian Foreign Ministry Rajkumar Ranjan Singh has said that India is open in its investment in and cooperation with Vietnam in general and Binh Duong province in particular.
Global growth investor Warburg Pincus with headquarters in New York, the US, has decided to invest in a cross-border e-commerce project in the southern province of Binh Duong.
The southern industrial hub of Binh Duong recorded close to 8 billion USD worth of trade surplus in the first nine months of this year, as heard at a September 28 meeting that reviewed the province’s socio-economic growth.
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At a wood processing factory in Binh Duong. (Photo: VNA) 
