Binh Phuoc Determined to Become Industrial Province by 2020

Part of the south eastern region, the province of Binh Phuoc is located in the country’s southern economic hub with natural area of 6,871.5 square kilometres and a population of 915,000 people. The province’s infrastructure has been greatly improved and is favourable, as there are two national highways, No. 13 and No. 14, running through it. The province has a 261km borderline with Cambodia. The province acts as a bridge between the southern key economic region, the highlands and Cambodia. Binh Phuoc has advantages in growing industrial crops. Binh Phuoc is also one of the most productive agricultural provinces of Vietnam, especially relying on cash crops such as cashew nuts and rubber. The province’s rubber cultivation is 215,000 hectares, the area of cashew, pepper, coffee and cocoa is 143,000; 10,300, 15,000 and 1,400 hectares, respectively. Binh Phuoc is also home to many fruit crops to serve the food processing sector for exports. Besides, the province has a bigger land fund than other cities and provinces in the region. The province is also rich in natural resources, especially the Ta Khiet and Thanh Luong milestone mines with big reserves to serve local cement production. Binh Phuoc’s kaolin, stone and brick reserves are also abundant to serve local social-economic development.

With big land funds, the southern province of Binh Phuoc has built synchronous planning for infrastructure development to serve its industry, trade and service sectors. To date, Binh Phuoc has built eight industrial parks with a total area of 5,244 hectares after the approval from the prime minister to attract domestic and foreign investors. Of them, the Hoa Lu industrial park has completed its planning to tap its favourable transportation to boost goods exchanges.

 

Thanks to the government’s policies on investment incentives, the province has built its own investment promotion policies to attract investment more effectively in goods processing projects, together with focusing on administrative reform to make investment attraction and management more transparent.

 

To successfully meet the target to become an industrial province by 2020, we have been focusing on building and carrying out three strategic programs: an economic restructuring program, an infrastructure development program and a program to train State officials and to develop human resources.

 

In its social-economic development strategy, the province focuses on the development of the agriculture, industrial and services sectors. Specifically, for the agriculture sector, the province has been boosting the restructuring of the sector, and the rural economy to boost goods production, diversify products and protect the environment to ensure that the agriculture sector would develop sustainably. For the industrial sector, the province will tap its potential and sources to implement its economic restructuring plan and to boost the development of the industrial sector, as well as give priorities and attract more investment to develop the manufacturing sector, deep processing and supporting industry. The province has also offered incentives to attract investment in the sectors that it has advantages. For the services sector, the province focuses on improving the quality of local services, its operation efficiency and its competitiveness. With advantages and potential, Binh Phuoc has taken measures to develop the services and tourism sectors so as to contribute to local economic development and through tourism programs, the province hoped to attract domestic and foreign investment in the sectors.

With transparent investment policies, the province has often updated and adjusted investment incentives to create more favourable conditions for businesses. The province has also facilitated activities of agencies which specialize in investment promotion, such as the investment promotion centre, the centre to support small and medium-sized enterprises and other units so that they can help businesses deal quickly with problems in business operations or project development.

 

Besides, the province has taken measures to simplify its administrative procedures and to make investment policies more transparent to help investors deal with any problems to encourage them to continue its investment in the province.