Binh Duong’s PCI 2020 demonstrates its rise

(VOVWORLD) - Binh Duong is among the top 5 provinces and cities in Vietnam with the highest Provincial Competitiveness Index 2020 (PCI 2020). The achievement is attributed to the province’s great efforts to bring into play its achievements in previous years, despite the COVID-19 pandemic.
Binh Duong’s PCI 2020 demonstrates its rise - ảnh 1An industrial park in Binh Duong province (Photo:

Binh Duong has considered administrative procedure reform an important step toward a more favorable investment environment and sustainable development.

In addition, the province has invested remarkably in infrastructure, land, electricity, water, and technology while improving human resources and taking care of workers’ material and spiritual lives.

As a result, Binh Duong’s PCI last year jumped 2.78 points bolstered by positive assessments of market entry and business support.

Tran Thanh Trong, Director of Sáng Ban Mai Corporation, praised Binh Duong for improving its infrastructure to help businesses operate and develop.

Trong said administrative reform has improved businesses’ efficiency in production and trading.

“Binh Duong has improved administrative services at all levels. It has also upgraded the infrastructure linking the province with neighboring provinces, especially Ho Chi Minh City. This has reduced logistics and transportation costs for businesses,” said Trong.

The provincial authorities, leaders of departments and sectors, and business representatives have held regular dialogues to address problems and help companies operate more efficiently.  

Binh Duong’s PCI 2020 demonstrates its rise - ảnh 2An FDI enterprise in Binh Duong province

Vo Van Minh, Chairman of the provincial People's Committee, said Binh Duong is renovating to attract investment by potential partners and major economic groups.

It prioritizes investment in high-tech, high-added-value, non-labor-intensive and environmental-friendly industries, and in planned industrial parks and industrial clusters.

Binh Duong is restructuring its economy to prioritize trade and high-quality services.

With the pandemic not yet completely under control, Binh Duong is doing its utmost to help businesses operate safely.

Minh said that with its current resources in economic development, urban infrastructure, a coordinated transportation network, and modern industrial zones, Binh Duong is determined to improve its development quality, attract investors that use advanced technologies and less labor, and successfully implement the Innovation Region Project to speed up the local economic growth.

“Binh Duong province has nearly 3,200 businesses, who have struggled to maintain operations during the pandemic. The provincial government has done its utmost to help them. A task force will soon be set up to implement the Government’s new resolution on support for enterprises,” according to Minh.

He added, “The support policy includes tax exemptions, reduction, and relaxation. Banks are required to reduce lending interest rates and restructure debts for businesses. Administrative procedures will be simplified to allow businesses to declare import and export goods online. Binh Duong will adopt flexible measures to allow foreign experts to come work here.”

To realize its growth targets, Binh Duong will focus on upgrading infrastructure especially transportation infrastructure, increase links with other cities and provinces, strengthen the application of digital and other technologies to production, and train skilled workers to meet the expanding needs of enterprises.

With all these efforts, the province is determined to improve its growth quality and competitiveness to grow sustainably in the future.