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Binh Duong hits industrial growth in key sectors

Update: January, 27/2014 - 09:09
Clothing is made by workers at the Japan-invested Toyotsu Vehitecs Viet Nam company in the southern province of Binh Duong. In the first 20 days of this year alone, the province attracted $300 million in foreign direct investment, three times higher than in the same period last year. —VNA/VNS Photo Quach Lam

BINH DUONG  (VNS)— Since the start of 2014, the southern province of Binh Duong has seen consistent growth in the wood processing, garment and textiles, footwear and ceramic industries.

These are the province's key sectors and they contribute more than US$4.5 billion each year to the value of its exports.

Since the start of 2014, many businesses belonging to the Binh Duong Furniture Association (BIFA) have received orders from their US, European and Japanese partners.

Director General of Sao Nam Co Ltd Do Thi Kim Loan said her company has received orders to provide products for the US market that will continue through September.

She attributed this business to the development of connections between BIFA and several hardwood processors' associations from the US and Europe.

Meanwhile, the province's ceramic producers have also signed recent contracts with many foreign companies.

Director of Cuong Phat Ceramic Company Ly Ngoc Bach said his firm has enough orders to remain busy until the end of the second quarter of this year.

The ceramics sector still remains prestigious in the eyes of foreign distributors and consumers, as Vietnamese businesses often change their techniques and designs to meet foreigners' tastes, Bach said.

According to Le Thanh Cung, Chairman of the provincial People's Committee, these positive signals will provide motivation to further develop Binh Duong's economy in 2014.

The province will focus its resources on economic development in a stable manner, curbing inflation, improving the investment environment and addressing difficulties for businesses, he said.

In the first 20 days of this year alone, the province attracted $300 million in foreign direct investment, three times higher than in the same period last year, Cung noted. — VNS


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