Addressing Hardships for Businesses

Binh Phuoc province has a more than 260 km of borderline shared with Cambodia, connected by Hoa Lu International Border Gate, Hoang Dieu National Border Gate, many secondary border gates and open ways, convenient for the exchange and development of the border economy. Besides, over the past years, Binh Phuoc has gradually affirmed itself as an attractive destination, strongly attracting domestic and foreign investment capital for industrial development.

Robust industrial growth

In 2020, the Index of Industrial Production (IIP) of Binh Phuoc province rose by 13.65%. The province had a retail value of VND48,439 billion, an import value of US$1.65 billion, and an export value of US$2.839 billion. Its more than 200 products are present in most countries and regions in the world.

Outstanding exports of Binh Phuoc include cashew nuts, pepper, rubber, woodwork, apparel and footwear. Recently, its new exports consist of mechanical engineering, electronics, plastics, chemicals, fruits and consumer goods.

Binh Phuoc focuses on attracting projects engaged in agricultural processing, supporting industries, hi-tech agriculture, organic agriculture, clean agriculture, trade, logistic services, and tourism.

From now to 2025, the province will strive to develop its industry and trade with the following specific objectives: IIP of 16%, average annual industrial growth of 14-15%; retail revenue of VND98,500 billion, an export value of US$5 billion and an import value of US$2.5 billion.

Business support

The complicated and prolonged COVID-19 epidemic upset most businesses in Binh Phuoc province in all three dimensions: production, export and import. They failed to work stably, causing production costs to rise, falling short of human and material resources. The most effective value chain was broken.

To solve these problems, the industry and trade sector actively cooperated with localities and the business community to figure out segments or parts of the disrupted or likely-to-be-disrupted value chain and supply chain to assist enterprises to find alternative sources, reduce production costs, recommend extending debt repayment terms and reducing interest rates, search for new markets and seek new forms of product consumption. Besides, unfinished projects will be drastically directed to be deployed smoothly and soon completed.

In addition to the above activities, the Department of Industry and Trade is determined to side with the business community and investors by reducing time and costs by reforming administrative procedures. Currently, the department is carrying out 124 administrative procedures under its jurisdiction, all of Level 4 administrative procedures are served on the provincial public service portal. As a result, the time needed for resolving administrative procedures has been reduced by 40%.

Being responsible for improving the "Business Support Services" Index - one of 10 component sub-indices of the Provincial Competitiveness Index (PCI), the Department of Industry and Trade regularly contacts and exchanges information with associations and businesses to respond to questions, and support domestic sales and export, which are highly appreciated by enterprises.

Mr. Nguyen Quoc Dung, Director of the Department, said the industry and trade sector defined accompanying the business and investor community in the province as a central activity. In order to promote this PCI sub-index, the department proposed the following solutions:

First, strictly implementing instructions of the Provincial Party Committee and the Provincial People’s Committee on implementation of the Action Program for PCI Improvement.

Second, enhancing business support services through trade promotion, fostering industrial development support.

Third, improving the transparency and time cost index by accelerating administrative reform and resisting corruption.

Fourth, further promoting the campaign “Vietnamese people give priority to using Vietnamese goods,” disseminating information and timely forecasts on export markets, especially agricultural export markets, and technical barriers to actively respond to and meet export conditions.

Fifth, strengthening coordination among branches and levels of formulating, promulgating and implementing adequate and timely mechanisms, policies, regulations and plans; joining business meetings hosted by provincial leaders to know and promptly advise solutions to emerging difficulties raised by businesses.

Sixth, strengthening inspection of public services, regularly inspecting, supervising and strictly handling irresponsible public employees.

Source: Vietnam Business Forum