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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will remove 95 per cent of current tariff lines among the partners, but goods must satisfy the rules of origin (ROO).

To reach the targets for economic growth for the 2016 – 20 period, the southern province of Bình Dương will focus on eight major works this year to encourage new investment.

Provincial authorities will urge site clearance and facilitate construction work to improve the investment climate and help the private sector to develop.

The province will open industrial parks and zones to welcome new investment trends, said Mai Hùng Dũng, deputy chairman of Bình Dương People’s Committee.  

In addition to efforts to improve the quality of urban management, Bình Dương will conduct research and invest in multi-mode transportation, and move polluting facilities in residential areas to industrial zones and parks.

Dũng said the province will also improve the province’s public investment and accelerate construction of major work, and focus on training of human resources for the Industry 4.0 era.

The province has set 12 targets for sustainable economic growth, with major growth focused on the service sector.

It will also continue to invest in infrastructure, with the aim of turning Bình Dương into a first-grade city, thus contributing to efforts to improve the living standards of Bình Dương residents and to build Bình Dương into a smart city.

Bình Dương has targeted a GRDP (Gross Regional Domestic Product) of 8.4 – 8.6 per cent this year and per capita income of VNĐ140 million (more than US$6,030).

The province’s socio-economic development attained significant growth last year. The province fulfilled 27 of 29 targets set by the provincial authority for 2018.

The Bình Dương Province’s Department of Planning and Investment also reported significant improvement in the investment environment, with total foreign investment (FDI) of more than $1.6 billion in the first 10 months of 2018, bringing total FDI registration in the province to $31.75 billion.

Source: VNS