Binh Duong: Index of Industrial Production up 6.9 pct. in Q1
Binh Duong’s Index of Industrial Production (IIP) picked up 6.9 percent year-on-year in the first quarter, with FDI firms remaining the largest contributor, according to the provincial People’s Committee.
Binh Duong (VNA) - Binh Duong’s Index of Industrial Production (IIP)picked up 6.9 percent year-on-year in the first quarter, with FDI firmsremaining the largest contributor, according to the provincial People’sCommittee.
Significant growth was seen in some key industries, such as wood and woodenproducts (15.6 percent); prefabricated metal products, excluding machinery andequipment (11.14 percent); and electronics, computers, and optical products(14.7 percent).
Several others experienced lower growth than in the same period lastyear, such as food processing (up 1.08 percent), beverages (0.29 percent),chemicals and chemical products (2.41 percent), and rubber products andplastics (1.14 percent).
The southern province is now home to more than 8,500 industrialmanufacturers, of which 26.4 percent are FDI enterprises who togethercontributed 63.3 percent of the province’s industrial production in Q1. They alsoaccounted for over 82 percent of local export revenues during the period.
According to Director of the provincial Department of Industry and TradeNguyen Thanh Toan, Binh Duong has heavily invested in developing infrastructurein local industrial parks and clusters so as to attract more investors. It hasalso provided all possible support for enterprises to maintain stableproduction, he said.
He added that the province is calling for investment in hi-tech,environmentally-friendly projects that promote the use of clean technology andproduce competitive products./.
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Illustrative photo. (Source: VNA)
