Binh Duong records impressive economic growth in H1
Binh Duong province posts gross regional domestic product (GRDP) growth of 6.19% in the first half of 2024, much higher than the figure of 3.55% this southern industrial hub recorded in the same period last year.
Binh Duong (VNA) – Binh Duong province posts gross regional domestic product (GRDP) growth of 6.19% in the first half of 2024, much higher than the figure of 3.55% this southern industrial hub recorded in the same period last year.
Upturn has been seen in many sectors, with industry - construction expanding 5.81%, service 7.36% and agro-forestry-fisheries 3.29%, local authorities reported.
Particularly, the province has seen remarkable recovery in exports with revenue estimated at nearly 16.3 billion USD during the first half, a year-on-year rise of 10.3%.
In terms of investment, although the province has enjoyed a 12.1% increase in domestic investment to over 27 trillion VND (1.06 billion USD), the attracted foreign direct investment is only equal to 64.4% of that in the same period last year due to common difficulties in the global investment environment.
So far, Binh Duong has fulfilled only 24.7% of this year's public investment disbursement plan assigned by the Prime Minister and 17.1% of the target set by the provincial People’s Council, mostly due to mechanism, policy and administrative procedure bottlenecks.
Ngo Van Mit, Director of the provincial Statistics Office, said that in order to achieve the 8% growth target for 2024, Binh Duong needs to achieve economic expansion of 8.5% in the third quarter and 10.7% in the fourth quarter.
Chairman of the Binh Duong People’s Committee Vo Van Minh said that to reach the growth target for this year and maintain its role as one of the key economic hubs of the country, the province will work to come up with specific and effective solutions, from enhancing the investment quality, improving the business environment to promoting sustainable development in each sector.
ღ Alongside, the province will continue to speed up the disbursement of public investment capital and increase its competitiveness, he added./.
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