Binh Phuoc leader welcomes investors, promises all support

Thursday, Dec 24, 2020 15:21

Investors flocked to the Binh Phuoc Province Investment Promotion Conference on Wednesday. — VNS Photo

The southern province of Binh Phuoc rolls out the red carpet for investors, Tran Tue Hien, chairwoman of its People’s Committee, said.

“The province assures businesses that it will always help resolve the difficulties they face. It will also create the most favourable conditions for them [since] its leaders consider the success of businesses as the province’s.”

She was speaking at an investment promotion conference organised in the province on Wedensday, where it sought to showcase the advantages of setting up a business in Binh Phuoc.

It provided information about 80 projects worth VND47.6 trillion (US$2.05 billion) in which it is soliciting investment in 2021-25.

It is focused on sectors like manufacturing, supporting industries and high-tech agriculture.

Also at the conference, 35 businesses received licences for investing anew or expanding. The total capital involved is over VND46.2 trillion ($2 billion) and is going mostly into renewable energy, agriculture, services, and industrial infrastructure.

Military Bank signed an agreement with Becamex Binh Phuoc Company to provide financial support and credit to companies at the latter’s Becamex Binh Phuoc Industrial Park in Chon Thanh District.

Shinhan Vietnam Bank and Thac Mo Hydropower Joint Stock Company signed a credit agreement for VND496 billion ($21.3 million) for funding a solar farm.

The CPV Food Complex was inaugurated at the Becamex Binh Phuoc Industrial Zone. Costing $250 million and equipped with advanced technologies, it can produce 100 million chickens for the domestic market and exporting to Japan, the EU, Asia, and the Middle East a year starting in 2023.

Speaking at the conference, Deputy Prime Minister Truong Hoa Binh said the province should further improve its investment climate, carry out administrative reform, develop human resources, and adopt modern technologies.

He called on investors who received the investment certificates to begin production on schedule and work with local authorities in case of difficulties.

As a province in the southern key economic zone, Binh Phuoc is an economic hub of the country.

It has 13 industrial parks with an area of nearly 4,700ha, of which eight are fully functional, and eight industrial clusters with an area of 380ha.

This year it has attracted 120 domestic projects with an investment of VND12 trillion ($514 million), a 17 per cent increase from last year. There has also been FDI worth $432 million, a marginal decline, in 36 projects. — VNS

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