Separated from a hamlet of Phu My District’s My Loi Commune, Binh Duong town was established in April, 2002. Despite its new age, Binh Duong has developed rapidly and become a hub in the north of Phu My district.
The resolution adopted by the town’s second Party Committee Congress for the 2005-2010 tenure elaborated an average increase of 16-17 percent in the annual production value. However, the figure has reached 24.85 percent in the past five year, in which industry and construction saw a raise of 29.16 percent, trade and service increased by 24.55 percent, and agriculture augments by 3.89 percent.
Industry and service are key sectors of Binh Duong. Six enterprises have been operating on an area of 80 ha in Binh Duong industrial cluster. The processing industry has also expanded with series of plastic plants and rice mills. The transportation shows stable growth with more than 200 vehicles and a powerful team of trucks and coaches.
The local residents’ standard living has been constantly improved thanks to the economic development. The per capita income has reached VND26 million in 2010 (compared with VND7.9 million in 2005). The town’s poverty rate reduced by 4.3 percent, compared with 8.7 percent in 2006. The total budget revenue increased by 27.1 percent on average per year during the 2005-2010 period and it was estimated to reach VND18 billion this year.
In the early day of establishment, the infrastructure was identified as a key task for the town, aimed at making the town become an economic and cultural center in the north Phu My District. The total investment for the basic construction has reached nearly VND328 billion in the past 5 years, of which the State budget funded over VND52 billion and the local budget contributed the rest. All traffic system, schools, and health clinics were newly built, surprising anyone who comes here.
“The town planning and compensation must be better realized,” said Chairman of the town’s People Committee, Nguyen Van Mien. “Thanks to the advantages of the residential areas, functional bodies could easily help the locals understand the benefits they would have from the projects. The widespread agreement is the top important factor.”
A new plan of rebuilding and concreting all intertown roads as well as the investment into some items, such as historical monument, sport complex, park, and public lighting system, will be promoted in the coming time. In addition, another market will be built on an area of 2 ha with a total investment capital of VND72 billion, he added.
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