A report from the provincial Department of Industry and Trade showed that the local index of industrial production (IIP) in January – October rose 6.49%, indicating the locality’s robust production strength.
During the ten-month span, the province’s export revenue expanded 13.25% year-on-year to 28.5 billion USD, while import grew 12.6% to 20.3 billion USD. The figures not only reflect the local exporters’ dynamism but also affirm the province’s sound market expansion strategy, especially towards the US that accounts for a third of its total export turnover.
Director of the department Nguyen Van Toan held that bolstering export to the American market will help enterprises broaden their production scale, generate more jobs, and improve the added value for their products.
Local wooden products, garment and textile, and electronic products have been favoured by US consumers, he said, adding the market, boasting strong a consumption and stringent requirements for product quality, is a strategic destination for the province’s industries.
As part of the efforts to help local firms reach out to more international markets, Binh Duong has invested big in transport infrastructure, sea and river ports, and warehouse while arranging trade promotion activities and encouraging the businesses to attend international fairs.
According to Standing Vice Chairman of the provincial People’s Committee Mai Hung Dung, training programmes and technical support have been given to local firms to improve their production and better product quality to meet rigorous requirements from the US and European markets.
Binh Duong pledges assistance for the enterprises, helping them expand production so as to contribute to the local economic development, he added.
