Binh Duong to invest $813 mln for infrastructure and economic development

Binh Duong province plans to invest VND20 trillion ($813 million) to improve infrastructure and facilitate economic development.

The provincial People's Committee announced the plan during a press briefing on September 19, during which it outlined the province's 2021-2030 planning with a vision to 2050. The goal is to overcome the middle-income trap and improve living standards for local people.

This investment is crucial for the southern province to establish itself as a strategic economic center in the Southeastern region and become a centrally-run city.

According to Mr. Vo Anh Tuan, Chief of Office of the provincial People's Committee, the province will prioritize 37 key tasks, funded through various sources, including land auctions and private sector investment. The total investment of VND20 trillion ($813 million) aims to complete the infrastructure system and promote economic development.

The province aims to raise per capita income to $15,000 annually by 2050.

Mr. Pham Trong Nhan, Director of the provincial Department of Planning and Investment, stated that the planning focuses on six pillars of development, following a strategic structural model comprising one development pillar, two ecological corridors, three linkage rings, four dynamic centers, and five development zones.

These factors will contribute to Binh Duong's sustainable economic development, diversified development resources, and enhanced connectivity with neighboring regions.