Bac Dong Phu IP JSC Ready for New Opportunities

On January 14, 2021, the Prime Minister signed a document approving the policy of supplementing the investment plan to expand industrial parks (IPs) in Binh Phuoc province, including the investment projects on expanding Bac Dong Phu IP and Nam Dong Phu IP currently invested by Bac Dong Phu Industrial Park Joint Stock Company. This event added a new source of energy, opening up opportunities for the company to welcome a new wave of investment to the province. Mr. Pham Phi Dieu, General Director of the Bac Dong Phu Company, had a talk with Vietnam Business Forum about the event.

The Prime Minister has just signed a document approving the policy of supplementing the plan to expand IPs in Binh Phuoc province, including projects invested by Bac Dong Phu Company. Could you please share some information about this matter?

As you know, Bac Dong Phu Industrial Park Joint Stock Company is the investor of two IP projects: Bac Dong Phu and Nam Dong Phu. Regarding the results of attracting investment, by the end of 2020, 189-hectare Bac Dong Phu IP was 81% occupied; while 69-hectare Nam Dong Phu IP was fully leased. Therefore, implementing the development strategy of the company under the direction of the Vietnam Rubber Industry Group, to meet the needs of investors and according to the industrial development policy of Binh Phuoc province, we have applied for an expansion of both IPs which has been approved by the Prime Minister. The size of Bac Dong Phu IP’s expanded area is 317 hectares and that of Nam Dong Phu IP is 480 hectares.

We are very happy that the Government, ministries, sectors and the authority of Binh Phuoc province are very supportive of the policy of developing IPs in the area in general and expanding projects invested by Bac Dong Phu Company in particular.

What does the expansion mean to your development strategy in the near future?

It can be said that this is a huge development turning point for us as the expanded area is quite large. This will create a premise for us to develop in the context that Binh Phuoc province has also determined its orientation for promoting the development of industry - services. The expansion will make an important contribution to the socio-economic development of Binh Phuoc province when more investors come to invest, produce and do business here.

Currently, the pandemic situation is quite complicated. How will you keep the expansion going as scheduled?

Currently, we have implemented steps to make topographic and cadastral measurements; set up boundary markers; and actively worked with competent authorities to complete documents in order to have an official investment policy soon.

The expansion of the projects has been supported by the Government, ministries, sectors and local authorities, despite facing many difficulties. In 2020, Binh Phuoc province was still a bright spot in the completion of the dual goal including prevention and control of the pandemic, and socio-economic development and attracting investment, as it ranked in the Top 5 provinces/cities with the highest GRDP growth rate in the country. At the same time, with accumulated experience, careful preparation and high determination of the company, I believe that the project will be implemented in accordance with the proposed plan.

Despite many difficulties, you have still achieved a lot of success. What is attributed to such success?

In this regard, I think there are both objective and subjective factors. In terms of objectivity, we see that our country's economy has developed very well in recent times. Vietnam is still a bright spot in attracting investment. The support from the Government, ministries, sectors and the authority of Binh Phuoc province to businesses in general and Bac Dong Phu Company, in particular, is also very good; the business and investment environment has been improved significantly to help investors feel more secure to implement investment projects.

Subjectively, the company has very good relationships with investors, and has effectively implemented investment promotion activities. In particular, we are willing to share difficulties with and support investors whenever they need.

Will developing large-scale expansion investment projects in the context of the lack of land funds available for IPs in neighboring areas create opportunities for you to gain an advantage in catching the new investment wave and attracting large investors in the near future?

Attracting large investors, which we simply call "welcoming eagles to nest", is the expectation of the State, localities and investors of IP infrastructure. We have ready resources to make infrastructure and develop other services to meet investor’s requirements. However, in my opinion, the State also needs to pay attention to investing more in infrastructure effectively connecting among economic regions, especially with key economic regions. At the same time, it is also necessary to prepare human resources, because large investors and high technology require a higher quality of human resources.

As far as I know, Binh Phuoc province is also very interested in and has the policy to invest in roads connecting IPs with the existing traffic system as well as invest in the routes connecting Dong Xoai with Long Thanh Airport. Those are very positive signals that create a premise to attract large investors.

Thank you very much!

Source: Vietnam Business Forum