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Local Economy

Last updated: Wednesday, November 22, 2017

 

Binh Phuoc Economic Zones Authority: Trustworthy Support and Destination for Investors

Posted: Friday, November 03, 2017


The “always for business” policy has played a considerable part in turning Binh Phuoc province into a strong “magnet” of domestic and foreign investment flows. The clearest evidence is the growing occupancy rate of industrial zones in the province. This is resulted from the enormous support of the local government as well as the ongoing effort of all employees of the Binh Phuoc Economic Zones Authority. The authority will continue to promote its advantages to be a trusted support and a reliable destination for investors.

Wholehearted for business
In the first nine months of 2017, the country's economic situation was relatively stable. Binh Phuoc province also achieved remarkable successes in raising the production value of enterprises in industrial and economic zones. To have these successes, the authority focused on “providing best conditions for tenants” to do business. In the third quarter of 2017, it received 22 evaluation forms, most of which were satisfied with administrative procedure settlement. The Binh Phuoc Economic Zones Authority received 516 application forms and handled 443 forms prior to the deadline (85.8 per cent), 68 forms in time (13.2 per cent) and five forms pending for superior resolution (1 per cent).

Thus far, Binh Phuoc province-based industrial parks attracted 179 projects with a combined investment capital of US$1.2 billion and VND5,300 billion, including 114 foreign-invested projects and 65 domestic projects. In the first nine months of 2017, 10 secondary projects were invested in industrial parks, including one domestic project and nine-foreign invested projects, with a combined investment capital of US$57.8 million and VND1,200 billion. New tenants hire 47.21 ha of land.

Regarding business performance, tenants made US$550 million of industrial production, up 26 per cent over the same period of 2016. Their export value rose 12 per cent to US$420 million and their import value climbed 22 per cent to US$353 million. Their tax payment value went up 13 per cent year on year to VND441 billion. In Hoa Lu Border Gate Economic Zone, the import and export value totalled US$92 million and US$39 million, up up 76 percent and 30 percent year on year, respectively.

Strengthening investment promotion
Economic and industrial zones in Binh Phuoc province are adding VND88.12 billion of investment capital for infrastructure development (Specifically, Dong Dong Industrial Park spent VND2.2 billion, Nam Dong Phu Industrial Park expended VND 8.2 billion, Dong Xoai I Industrial Park disbursed VND 0.79 billion). The province is building three new industrial parks, namely 2,450-ha Becamex - Binh Phuoc, 120-ha Dong Xoai and 655-ha Minh Hung - Sikico. “In 2017, Hoa Lu Border Gate Economic Zone will be allocated VND20 billion for infrastructure construction. Accordingly, some infrastructure works will be built and operated, including the joint control station (2,353 square metres), traffic routes at checkpoints, lighting facilities, drainage system (6 km), internal roads (5 km of asphalted roads and 40 km of gravel roads),” said Mr Nguyen Van Dung, Director of the Binh Phuoc Economic Zones Authority.

He said that production development in industrial parks has generated jobs for more than 5,000 employees (the average monthly salary of a worker is VND4.7 - 5.5 million). The authority always urges enterprises to fulfil their obligations to labourers and the living environment like social insurance, labour safety and food hygiene. It also appeals tenants to effectively carry out environmental protection requirements in the workplace, monitors and urges infrastructure investors to build concentrated wastewater treatment facilities and report environmental monitoring results and environmental protection results in industrial parks. Among eight operational industrial parks, four have already had centralised wastewater treatment facilities, and two are completing these systems.

The Binh Phuoc Economic Zones Authority has also organised overseas investment promotion programmes to introduce its potential and advantages to attract big projects with modern technologies. The authority also cooperates with electronic informational portals and coordinates with infrastructure developers to call for new investors.

PV








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