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Binh Duong provincial People’s Committee has just approved the local draft plan on socio-economic development for the 2016-2020 period. This is seen as an important pace for the local development process in the next five years.

Part 2: Northern localities of the province to be ahead of opportunities: Currently, Northern localities of the province such as Ben Cat, Bau Bang, Bac Tan Uyen, Dau Tieng, etc. are emerging to be ahead of opportunities of industrialization and urbanization, contributing to provincial development.

VIETRADE - Binh Duong is located in the southern key economic region. Endowed with the advantages of convenient geography conditions; beside Ho Chi Minh City, the economic cultural center of the country, owning the smooth land as well as the land - bed suitable for basic construction with low investment rations; main transportation routes of national roads of 13,14, the Ho Chi Minh highway, Trans - Asia highway which cross over the province..., 10 to 15 kilometers away from Tan Son Nhat international airport and seaports; and Binh Duong people are laborious and dynamic, etc....

Breakthrough and growth: Like other provinces, the province started from a low-based economy with an annual growth rate of 3.2 percent. In 1975-1985, the industry made up only 9.6 percent of the economic structure. The main products were ceramics and lacquer. State-owned enterprises were inefficient, other economic sectors were underdeveloped. In the period of transformation (1986-1990) from a centrally planned to the market economy, many enterprises could not stand the test and disband. However, with the encouragement of the province, hundreds of private enterprises came into being. Industrial production maintained a growth rate of 8 percent a year and in 1990 accounted for 13 percent of the economic structure.

The southern province of Binh Duong has already achieved over 78 percent of this year’s foreign direct investment (FDI) target with almost US$1.1 billion, its People’s Committee announced. It included more than $730 million in 113 new projects and $367 million in 64 existing ones.

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