Bình Phước industrial production soars in 2024

Friday, Mar 08, 2024 07:19

Bình Phước Province saw high growth in industrial production across sectors. — VNA/VNS Photo

Bình Phước Province’s industrial production index (IIP) increased by 19.2 per cent in the first two months of 2024, with high growth rates recorded across many industries.

Processing and manufacturing grew by 20 per cent, production and distribution of electricity, gas, hot water, steam, and air conditioning by 4.8 per cent, and water supply, waste and wastewater management and treatment by 11.5 per cent.

Several other industries also saw growth surge due to high demand for Tết goods such as beds, wardrobes, tables and chairs (up 50 per cent), rubber and plastic products (33.3 per cent), foodstuffs (10.7 per cent) and leather and related products (9.2 per cent).

Other key, high-value products played a big role in the growth, such as plastic sheets, plates and tubes; metal packaging; dried cashew; and footwear.

However, several industries were also hit by limited orders, high raw material costs and low demand, including non-metallic mineral products, textile and garment and metals.

To sustain its growth momentum, Bình Phước will focus on reviving especially manufacturing and processing, including deep processing of cashew, rubber and food, and speed up the construction of new industrial parks and clusters.

The south-eastern province has 13 industrial parks with a total of 6,000ha besides the 28,000ha Hoa Lư Border Gate Economic Zone, and is planning eight new IPs in Đồng Phú District near Bình Dương, HCM City and Đồng Nai.

It is organising a business connection forum in March for members of EuroCham and AusCham to look into investment opportunities in industry, commerce, hi-tech agriculture, and the green economy. — VNS

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