SECURITY, POTILICS, ECONOMY AND SOCIETY

Thursday - 12/03/2020 15:03 1450
(BP Portal) - Security and politics of Vietnam in general and Binh Phuoc in particular are always stable in comparison with other regional and international countries, acquiring good conditions for investors' investment, production and economic development.
trung tam hanh chinh bp 2
Administrative center of Binh Phuoc

Population and Human resouces

Binh Phuoc has population of over 921,411 people and 640,000 are at working age (population structure of Binh Phuoc province being now in the stage of "gold"). This is considered as the available and abundant human resources for industrial development strategy and economic transition mechanism in the next time. On the provincial territory, there are 21 vocational training institutions scaled from 4,500 to 5,000 people per year, in which 2,000 - 2,500 employees graduated from universities, colleges and vocational schools with highly skillful workmanship. Moreover, the laborers also trained in other institutions outside the province, totaling trained laborers of Binh Phuoc province up to 120,000 people per year.

Security and politics

The security and politics of Vietnam in general and Binh Phuoc in particular are relatively stable against other countries in the region and the world, as the relatively favorable conditions for the investors to feel secure to launch investment, production and economic development

Socio-economic

In 2019, GRDP’s growth rate will increase by 7.8%, the average income per capita is estimated at 62.5 million VND/person/year. The economic structure shifted in the right direction, the agriculture-forestry and fisheries sector accounted for 24.33%; industry and construction sector accounted for 37%; service accounted for 34.37%. Product taxes less subsidies on production accounted for 4.3%.


Infrastructure Transport

Transport system has been invested and updated extensively with concrete and resin road routes. There are two routes of National Highways: The National Highway No. 13 connecting Ho Chi Minh City, Binh Duong province and acrossing Chon Thanh, Binh Long, Loc Ninh districts to Hoa Lu International Border Gate and connecting with the National Highway No. 07 of neighboring Cambodia with the total length within the provincial territory of about 80 km; the National Highway No. 14 connecting Central Highlands provinces acrossing Binh Phuoc territory with the length of 112.70 km. Such two national highways function to open doors to Central Highlands, southern provinces and the Kingdom of Cambodia, creating favorable conditions in domestic and foreign trade transactions.

Projecting towards 2020 - 2025, there would be a trans-Asian railway route acrossing Hoa Lu International Border Gate of Binh Phuoc province connecting with the railway route to Ho Chi Minh city and other Southwestern provinces.

The trans-Asian route connecting with Cambodia, Laos, Myanma, Malaysia and Thailand will faciliate commodity circulation and transaction by and between regional countries.

Electricity

Binh Phuoc includes numerous big hydroelectric power plants such as Thac Mo, Can Don, Srok Phu Mieng, etc, generating the capacity of 288 MW. High and low voltage transmission lines spread widely all over the province with over 5,000 km of electric wires, ensuring life activities and production demand.

Water

Binh Phuoc province composes of many big water factories such as Dong Xoai and others like Thac Mo, Phuoc Binh, Binh Long, Loc Ninh, Bu Dang with the capacity between 6,000 and 20,000 m3/ day, etc., so as to meet demand on water for locality and projects in industrial parks and clusters.

Posts and Telecommunications - Communications

Posts and telecommunications networks have broadcasted universally to all communes, wards simultaneously made well performance in provision of international communication demand, digital information transmission. Mobile phone waves have broadcasted mostly on the territory of the province meantime fiber cables network has been transmitted to most telecommunication stations in communes and districts of the province.

Investment Support Service

Big bank systems opened their branches in townships and districts like Vietnam Bank for Agriculture and Rural.

Development, Bank for Investment and Development of Vietnam, Vietnam Joint-Stock Commercial Bank for Industry and Trade, Sai Gon Thuong Tin Commercial Joint-Stock Bank, Dong A Bank, Nam A Bank, etc.

Insurance services have been extensive and prosperous with well-known insurance companies such as Bao Viet, Bao Minh, Prudential, etc., the Customs department has been assigned in the border gate. In the next time, there will be customs branches in industrial parks to serve customs clearance requirements of enterprises. Consultancy services have widely spread mostly over the province.

Additionally, other services in Binh Phuoc province have been improved and professionalized as well./.

Author: T.T (BINH PHUOC PROVINCE INVESTMENT PROMOTION HANDBOOK)

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