Binh Dinh: Industrial production and trade have a fairly high growth rate

According to the Department of Industry and Trade of Binh Dinh, the industrial production index (IIP) in August 2024 is estimated to increase by 9.9% over the same period last year. In the first 8 months of 2024, the IIP is estimated to increase by 9.49% over the same period, of which the processing and manufacturing industry increased by 10.09%; the electricity production and distribution industry increased by 1.84%; water supply, waste and wastewater management and treatment increased by 12.34%;  mining industry increased by 11.4%,

For commercial activities, the total retail sales of goods and consumer service revenue in August 2024 is estimated at VND 10,635.9 billion, up 20.4% over the same period. The total for the first 8 months of 2024 is estimated at VND 79,751.4 billion, up 16.1% over the same period, reaching 69.5% of the annual plan (VND 114,700 billion).

According to the assessment of the Department of Industry and Trade of Binh Dinh, the results of industrial production and trade activities have a fairly high growth rate. Specifically, for the industrial sector, the industrial production index in August 2024 grew quite high compared to the same period due to receiving more orders and many new projects going into production and business. Some products still maintained a positive growth rate compared to the same period.

 Regarding the domestic trade sector, in August 2024, the market situation of goods in the province remained stable, with smooth circulation. Many businesses, shopping malls, supermarkets, and retail stores organized many attractive promotional programs, reasonable prices with many types of discounted items to stimulate consumption, especially promotional programs implemented early on the occasion of National Day, September 2, 2024. Trade and service activities continued to be vibrant, raising the total retail sales of goods and social service revenue in August 2024 to an estimated VND 10,635.9 billion, an increase of 20.4% over the same period.  In general, the quantity of goods such as food, foodstuffs, necessities, drinking water, fuel at enterprises and distributors in the province is stored in large quantities, with abundant and diverse supply sources, ensuring to meet the needs of people's consumption and the ability to mobilize when necessary, avoiding shortages of goods and local price increases that cause market instability.

Nhon Hoi Industrial Park - Binh Dinh.  Photo: Nguyen Lac

Meanwhile, for foreign trade activities, in August, the province is estimated to reach 145.4 million USD, down 2.2% over the same period in 2023. However, in the first 8 months of 2024, the total export turnover of the whole province still recorded a good growth rate with an estimated value of 1,141.9 million USD, up 13.8% over the same period in 2023. Mr. Ngo Van Tong - Director of Binh Dinh Department of Industry and Trade - said: In the coming time, the unit will continue to implement the program under the Domestic Market Development Project associated with the Campaign for Vietnamese people to prioritize using Vietnamese goods in 2024;  Program to support small and medium-sized enterprises to participate in industry clusters and value chains in the production and processing sector in the province in 2024. Implement plans on exporting goods, developing logistics services... At the same time, "continue to work with key industrial enterprises and projects in the province to grasp difficulties and obstacles and propose support to remove them, creating favorable conditions for production and business activities, especially industrial production projects that will come into operation in September 2024" - Mr. Tong added. It is known that for the work of attracting industrial production projects to industrial clusters in the area in August 2024. In August, 08 projects with a total investment of 230 billion VND came into operation. In the first 8 months, 33 projects with a total investment of 3,036 billion VND came into operation;  including 05 key projects with total investment capital of 2,324 billion VND.

In 2024, the Provincial People's Committee assigned the target of attracting 21 projects to the industrial parks. Specifically, 15 projects have been approved for investment policy/Investment Certificate, with a total investment capital of VND 1,854.2 billion (average VND 123.6 billion/project), total area of ​​49.1 hectares; 09 projects are implementing procedures for Investment Policy Approval/Investment Certificate, total investment capital of VND 211.6 billion, total area of ​​18.9 hectares. Thus, up to now, there are 24 projects registered to invest in industrial parks with a total registered capital of VND 2,065.8 billion, total area of ​​68.0 hectares.