Binh Phuoc promotes investment in Fujian province

Attending the conference were members of the Party Central Committee, Secretary of Binh Phuoc Provincial Party Committee - Mr. Nguyen Manh Cuong; Member of the Standing Committee of the Provincial Party Committee, Vice Chairman of the People’s Committee of Binh Phuoc Province - Mrs. Tran Tuyet Minh; Member of the Standing Committee, Head of the Provincial Party Committee’s Mass Mobilization Committee, Chairman of the Vietnam Fatherland Front Committee of Binh Phuoc province - Mrs. Le Thi Xuan Trang; leaders of departments, branches and Dong Phu district, Binh Phuoc province.
Binh Phuoc has "good 4 platform"

At the conference, Member of the Standing Committee of the Provincial Party Committee, Vice Chairman of the Provincial People’s Committee- Mrs. Tran Tuyet Minh introduced to the business community of Fujian province the highlights of geographical location, infrastructure, administrative procedures, digital transformation and determination of Binh Phuoc province. At the same time, affirming with ''good 4 platform'' (good infrastructure, good human resources, good policies, good public services), Binh Phuoc determined the goal of best meeting the needs, satisfying investors when coming to the province.  

Binh Phuoc currently has more than 400 FDI projects with a total investment of 4.3 billion USD, coming from many countries and territories. In which, China leads the number of FDI projects in Binh Phuoc with 132 projects, nearly 1.2 billion USD. Chinese enterprises are successfully investing in Binh Phuoc province in the fields of agricultural production, wood, leather shoes, fabrics, metals, electronics... Especially the project of HAOHUA Tire Factory (Vietnam) under HAOHUA Group with a total investment of 500 million USD, was awarded the investment registration certificate by Binh Phuoc province in 09/2023.

Vice Chairman of the Provincial People’s Committee - Mrs.Tran Tuyet Minh said that Binh Phuoc highly appreciates the potential of investors and wants large corporations, as well as small and medium enterprises of China to invest more in the province. Binh Phuoc always attaches great importance to the contribution of foreign investors, including China, to the socio-economic development of the province. And believe that, with the strengths of technology, finance, international market network and business administration skills of Chinese enterprises, once combined with the advantages of Binh Phuoc will bring great and practical benefits to both parties in the future.

Investment policy is of interest to businesses

At the conference, businesses in Fujian were also informed about Vietnam’s economic situation and trade cooperation between Vietnam and China; introduction about potentials, strengths, investment incentives in Minh Hung - Sikico Industrial Park and notes when investing in Vietnam.
On behalf of the investor of Minh Hung - Sikico Industrial Park, Mr. Huynh Thanh Chung, General Director of Minh Hung - Sikico Industrial Joint Stock Company wishes to have the opportunity to accompany and cooperate with business associations of Quanzhou city and neighboring localities to jointly support Chinese businesses wishing to invest in Vietnam. He believes that with the drastic support from the local government and the advantages of Binh Phuoc province, Minh Hung - Sikico Industrial Park, businesses in Fujian province will find opportunities for sustainable development, operate effectively and successfully in Binh Phuoc.
During the seminar, leaders of Quanzhou city, representatives of enterprises and business associations discussed with leaders of Binh Phuoc province about the electricity supply situation, procedures for buying - renting land and investing in building factories; notes in investment licensing and business registration procedures; special support policies for investors, processes - procedures for granting goods certificates... investment regulations for the footwear, textile, food processing industries... These contents were answered directly and specifically by the leaders of the province, departments and branches of Binh Phuoc province, the investor of Minh Hung - Sikico Industrial Park at the conference.

Binh Phuoc creates the most favorable conditions to welcome investors.

Member of the Party Central Committee, Secretary of Binh Phuoc Provincial Party Committee - Mr. Nguyen Manh Cuong emphasized: China and Vietnam are two close countries, with many similarities, over the years, under the correct orientation of senior leaders of the two Parties and two countries, the efforts and close cooperation between ministries, branches and localities of the two countries, the relationship between Vietnam - China has developed deeply in all fields.  

From 2004 to present, China has continuously been Vietnam’s largest trading partner. To date, China is Vietnam’s largest import market and second largest export market, while Vietnam is China’s largest trading partner in ASEAN. Vietnam - China bilateral trade turnover in 2023 is approximately 171.9 billion USD. As of 02/2024, China has 4.304 projects in Vietnam with a total registered capital of 27.67 billion USD, ranking 6th out of 145 countries and territories with investment in Vietnam.

Binh Phuoc province is becoming an emerging locality in attracting foreign investment because of its favorable geographical location in connecting seaport traffic, airport and major economic center in Ho Chi Minh City. Binh Phuoc is also not significantly affected by climate change such as sea level rise, while the large land fund and flat terrain are important advantages for the development of many economic sectors, especially the development of industrial infrastructure.
 

The direction of economic development has been clearly defined by the province in the planning and development guidelines and orientations is to take industrial development as the center, focus on attracting the development of industries that the province has strengths, and at the same time develop policies in the direction of creating the most favorable conditions for industrial development. We are also focusing on optimally exploiting the advantages of land fund and favorable conditions to develop industrial parks to make Binh Phuoc a locality with favorable industrial infrastructure to attract investment.   Member of the Party Central Committee, Secretary of the Provincial Party Committee Mr. Nguyen Manh Cuong.

Secretary of the Provincial Party Committee - Mr.Nguyen Manh Cuong emphasized: Binh Phuoc is having strong aspirations for development and is innovating, rising rapidly, becoming a dynamic economic development locality. Binh Phuoc’s GRDP growth over the years has always led the Southeast region. With those advantages, Binh Phuoc will definitely bring values to investors and the business community to invest and do business in Binh Phuoc province. Binh Phuoc is promoting its potentials to gradually promote economic development and attract investors. The current provincial planning has been approved by the Government, and the province is also actively and proactively completing many oriented projects in all fields, from industrial, commercial, service, agricultural infrastructure, to science and technology, urban, digital transformation, human resource development, administrative procedure reform.

Currently, Binh Phuoc is making efforts to implement important traffic connection projects, including two expressway projects connecting to two important areas, Ho Chi Minh City and the Central Highlands, which are expected to be started construction at the end of 2024.

Binh Phuoc province always welcomes businesses of Fujian, Quanzhou and businesses China to visit and learn about the country, culture and people of Vietnam, visit Binh Phuoc province to learn about conditions and opportunities. business cooperation.  

Binh Phuoc is determined to build a friendly, safe, public, transparent investment environment, continue to review preferential policies, create the most favorable conditions for businesses to invest in production - business, provide maximum support for businesses, build a mechanism to accompany businesses, support and dialogue regularly with businesses to solve difficulties and problems. With the above policy focuses, we are confident that it will attract more and more investors from China as well as investors from Fujian and Quanzhou city to Binh Phuoc province. Member of the Party Central Committee, Secretary of the Provincial Party Committee Mr. Nguyen Manh Cuong.

Previously, the delegation of Binh Phuoc province visited and worked at Hua Feng Group in Putian city, Fujian province. Hua Feng is a multi-industry corporation, notably producing woven fabrics, knitting, crocheting, producing braided ropes and nets, sewing costumes, producing shoes, sandals, recycling plastic...

“Chinese enterprises are recently tending to expand production to the outside, including Vietnam. It is known that Hua Feng Group also has an investment plan in Vietnam, Binh Phuoc province is always ready to welcome. The province will work actively with the group in particular, partners in general to ensure that the procedure as well as difficulties will be resolved in the most appropriate way” - said by Secretary of the Provincial Party Committee of Binh Phuoc Nguyen Manh Cuong.