Binh Phuoc is rising commute “reserve” for “development”

(Binh Phuoc Portal) - Currently, Binh Phuoc is continuing to build contructive government, accompany businesses and investors with many new policies on encouragement, incentives and investment support in the province.

That is the emphasized statement of the Chairman of the Provincial People's Committee- Mrs.Tran Tue Hien at the EuroCham high-tech industrial, commercial, agricultural enterprises connection Forum- Binh Phuoc province in 2024, held on the afternoon of March 12, 2024 at the Provincial Political School Conference Center with the participation of nearly 360 domestic and international delegates.

Speaking at the Forum, the Chairman of the Provincial People’s Committee - Mrs. Tran Tue Hien said: Binh Phuoc is committed to always standing by and accompanying businesses, ready to create the most favorable conditions for production and business activities of foreign investors, especially investors from the European Chamber of Commerce in Viet Nam (EuroCham), Australian Chamber of Commerce in Viet Nam (AusCham)... With the potential and advantages available, plus the high determination of the authorities at all levels, Binh Phuoc is rising commute “reserve” for “development”, becoming a new growth driver of the whole country and the Southeast and It’s an attractive destination for investors.

“In 2023, Binh Phuoc's Gros Regional Domestic Product (GRDP) reached 8.34%, ranking first in the Southeast region and ranking 11th compared to the whole country. GRDP per capita reaches 94 million VND/person/year. Total social investment capital mobilized VND 35,001 billion, up 9.4% compared to 2022. Attracting Foreign Direct Investment capital (FDI) by 48 projects, with a registered capital of 824 million USD, ranking 14th compared to the whole country,” Chairman of the Provincial People's Committee - Mrs.Tran Tue Hien added.

To promote the full potential, overcome bottlenecks, promote strong economic development, attract investors, Chairman of the Provincial People's Committee - Mrs. Tran Tue Hien emphasized: Binh Phuoc is focusing on solving 06 key issues on planning announcement, resource allocation to implement the provincial planning; develop inter-regional transport connections; develop social infrastructure to create favorable conditions for investment attraction; focus on promoting advantages to strongly develop industrial infrastructure for investment attraction; pay attention to human resource development; strengthen administrative procedure reform, promote digital transformation, Contribute to improving the investment and business environment.

Currently, the planning of Binh Phuoc province for the period 2021-2030, the vision to 2050 has been approved by the Prime Minister. In parallel with the planning, the province has promulgated many oriented projects in different fields, from infrastructure, industry, trade, services, agriculture, to science and technology, urban, digital transformation, human resources, reforming administrative procedures, mobilizing investment resources for development. These policies will be synthesized to send investors for reference when researching the province’s policies. The direction of economic development has been clearly defined in the provincial planning and the development guidelines and orientations of the province.

Over the years, the province’s inter-regional traffic connection has improved, but Binh Phuoc is still more than 02 hours from the airport, 03 hours from the seaport, and there is no highway. International investors all share that, as long as it shortens the above travel time by about 40%, Binh Phuoc will be an attractive destination for investors. Therefore, the province is making efforts to overcome the disadvantage of geographical location through inter-regional traffic projects, in which the focus is the Ho Chi Minh City - Thu Dau Mot - Chon Thanh highway, Gia Nghia (Dak Nong) - Chon Thanh (Binh Phuoc) Highway, the Di An - Hoa Lu cross-Asian railway, Binh Phuoc province.

Binh Phuoc determined to attach importance to the development of social infrastructure to create favorable conditions for investment attraction. As the province behind, Binh Phuoc currently lacks high-quality social infrastructure, no 4-5-star hotels, high-class commercial centers, entertainment areas, golf courses, international schools, high-quality hospitals... This is a factor that reduces the attractiveness for investors when coming to do business and live in Binh Phuoc. The province is actively attracting investment to quickly develop social infrastructure in a timely manner, in order to serve the needs of socio-economic development and attract investment in the coming time.

Binh Phuoc is also focusing on promoting advantages to strongly develop industrial infrastructure to attract investment. It is considered a very advantageous province to develop industrial infrastructure such as large land, favorable land fund, good, flat land, location in the southern growth dynamic zone, lower land rent than neighboring provinces... Therefore, Binh Phuoc is focusing on exploiting optimal advantages, advantages of land funds and favorable conditions to develop industrial zones and clusters, in order to make Binh Phuoc a locality with favorable industrial infrastructure to attract investment.

Currently, Binh Phuoc is implementing many solutions to solve the problem of human resources in both quantity and quality. This is one of the issues that many investors are very interested in. To solve this problem, the province is focusing on solutions: developing university training institutions; strengthening the capacity of the province’s vocational schools; developing social housing for workers; channeling junior high school students in two directions of cultural learning and vocational training to facilitate the transformation of a strong labor structure to the industrial and service sector.

Besides, Binh Phuoc is very determined in building a friendly, safe, open and transparent investment environment; continue to review preferential policies, create the most favorable conditions for businesses and investors to feel secure in production and business; maximum support for innovative and start-up businesses; build a mechanism to accompany businesses, support and regularly dialogue with provincial leaders to be able to solve difficulties and obstacles of businesses Quickly and promptly, serving the goal of rapid and sustainable development.

With the above 06 focus, Binh Phuoc hopes to overcome the limitations, maximize the advantages to create strong economic development conditions, attract more and more investors to Binh Phuoc, including EuroCham businesses./.