Võ Văn Minh, chairman of the provincial People’s Committee, speaks to a Việt Nam News Agency reporter at a recent meeting in the province. — VNA/VNS Photo

BÌNH DƯƠNG — The southern province of Bình Dương has set an ambitious target this year to achieve a gross regional domestic product (GRDP) growth rate of over 10 per cent.

Speaking at a recent meeting, Võ Văn Minh, chairman of the provincial People’s Committee, highlighted the province's advantageous location, modern infrastructure and favourable investment climate as key factors in attracting investors.

To meet its targets, Bình Dương plans to continue driving a digital transformation, promoting a green economy and enhancing its competitiveness, he said.

This will involve substantial investments in technology, infrastructure and the development of a skilled workforce.

"These initiatives are essential for positioning Bình Dương as both an industrial hub and a prime destination for domestic and foreign investors," he said.

The province aims to leverage its existing strengths while adapting to the evolving economic landscape to ensure sustainable growth in the coming years, he added.

The province is committed to creating a supportive environment that fosters innovation and attracts further investment.

It will focus on investing in regional transport infrastructure, developing industrial sectors, services, education and healthcare, according to Minh.

Nguyễn Thanh Toàn, director of the Department of Planning and Investment, said the province's projected GRDP growth for 2025 is expected to reach 10 per cent, driven by industrial growth exceeding 12 per cent and service sector growth surpassing 10 per cent.

The province’s economy is estimated to exceed VNĐ572.4 trillion, resulting in an average GRDP per capita of over VNĐ195 million.

Significant transformations in economic structure are projected, with the industrial and construction sectors expected to comprise 65 per cent of the economy.

This year the services sector is anticipated to rise to 25.2 per cent, while agriculture, forestry and fisheries are projected to account for 2.61 per cent.

The export-import turnover is expected to grow by at least 10 per cent annually, with exports anticipated to reach $38 billion and imports expected to total $26.8 billion.

Total investment capital is estimated at VNĐ179.798 trillion, with public investment playing a crucial role, amounting to VNĐ36 trillion this year.

Dr Trần Du Lịch said the increase from nearly 8 per cent in 2024 to 10 per cent in 2025 poses a significant challenge for Bình Dương.

The province should continue to create an attractive investment climate, innovate its industrial model and enhance its transportation infrastructure, he said.

Experts recommended the province set up a steering committee to achieve its growth targets. The committee would oversee designated agencies and implement necessary tasks.

It should prioritise addressing challenges in public investment, accelerating disbursement processes and increasing revenue from land allocations and public land auctions, and should consider issuing green bonds to mobilise sustainable funding for strategic infrastructure and renewable energy initiatives.

Despite challenges, Bình Dương has completed and exceeded 31 out of 36 targets set, with its GRDP surpassing 7.48 per cent last year, exceeding its previous growth rate of 5 per cent in 2023. — VNS