Binh Phuoc inaugurates five Korean projects

Saturday, Mar 17, 2018 08:39

Participants break ground for the construction of the first five projects in Becamex Binh Phuoc industrial and residential area. — Photo

The People’s Committee of Binh Phuoc on Friday conducted the ground-breaking ceremony and handed over certificates of investment to the first enterprises in Becamex Binh Phuoc industrial and residential area.

This is considered the most significant industrial and residential area of this southern province in particular, as well as of the key economic zone in the Southern region.

The first five investors in this industrial zone are from the Republic of Korea (RoK), with total registered capital of US$80 million, including Hankuk Carbon, Yongsung, River Runs, Hankuk Advanced Material and Mi Sung companies.

Speaking at the inauguration ceremony, Huynh Anh Minh, vice chairman of the provincial People’s Committee, said Binh Phuoc promoted the planning, construction and development of industrial zones to attract foreign investment. The province had assigned Becamex IDC Corporation to study the planning and develop Becamex - Binh Phuoc industrial and urban complex with an area of 4,633ha.

The province would create favourable conditions for investors during the project implementation process, Minh said, and requested the investors to concentrate on completing the project in accordance with the schedule and strictly comply with the regulations in the implementation process.

Cho Moon Soo, chairman of Hankuk Carbon Company Limited, said, with 26 years of diplomatic relations between Viet Nam and RoK, and 6,000 businesses investing in Viet Nam, this is a good opportunity to seek opportunities for co-operation and investment. Along with the good policies and support mechanisms of the government for foreign investors, Viet Nam is an attractive destination for foreign businesses in general and Korean enterprises in particular.

With the efforts to improve the attractive investment environment, Binh Phuoc has been attracting more and more domestic and foreign investors, especially foreign investors with strong financial potential, specialised in manufacturing spearhead industries investing in the province.

Located on a 4,633ha site, of which, 2,448ha are planned for industrial zones and 2,185ha for residential areas, it is expected that this industrial-urban area will attract over $5 billion in investment. — VNS

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