Binh Duong: IIP in Q1/ 2025 Grows Over 7.5%

According to the draft report on the socio-economic, defense, and security situation in the first quarter of 2025, the province achieved positive results across most sectors.

Key growth drivers in the province showed significant increases:

• Gross Regional Domestic Product (GRDP) is estimated to have increased by 7.5% compared to the same period in 2024.

• Industrial production is estimated to have grown by 7.51%.

• Total social development investment capital is estimated at 34.578 trillion VND, an increase of 7.1%.

• FDI attracted amounted to 630 million USD.

• Domestic registered capital reached 31,000 billion VND.

• Total retail sales of goods and services revenue are estimated at 92.845 trillion VND.

• Export turnover reached nearly 8.6 billion USD, while import turnover was approximately 6 billion USD.

• Total budget revenue is estimated at 25 trillion VND, achieving 34% of the target set by the Prime Minister and 31% of the target set by the Provincial People's Council.

Based on the economic development results in the first quarter of 2025, achieving the set double-digit growth target requires focusing on solutions to accelerate growth in the second quarter.

Binh Duong needs to promptly carry out land clearance and compensation for industrial park development projects to facilitate and attract investment capital from enterprises. Additionally, efforts should be made to address challenges, establish land valuation for compensation and site clearance for projects, and expedite the disbursement of public investment capital to drive economic development towards achieving the double-digit growth target.