Hectic foreign affairs activities of Binh Phuoc

(BP Portal) - After a two-year interruption of exchange activities, working visits due to the complex developments of coronavirus pandemic, the Department of Foreign Affairs of Binh Phuoc province actively re-organized external activities in 2022. Working trips to the Republic of Korea, Thailand, Japan, and other countries helped introduce the potential and strengths of Binh Phuoc, inviting and attracting investment from foreign partners and businesses.

Attracting “eagles” to land and build nests

Despite the fact that Japan is considered as one of the top economic partners of Vietnam, Japanese investment inflow into Binh Phuoc province is still humble (7 projects capitalized at 23 million USD, equivalent to 0.7% of the province's total foreign direct investment (FDI). Therefore, in 2022, apart from the State external activities, Binh Phuoc launched investment promotion in 2 major cities of Japan: Tokyo and Osaka. These meetings were held to establish relations and orient cooperation in the fields receiving significant interest from Japanese enterprises such as investment in infrastructure of industrial parks, planning and building the system of smart urban areas, development of commerce and service network, product distribution, development of clean agriculture, organic farming, and so on. 

2022 also witnessed the first batch of 33.6 tons of processed chicken of Binh Phuoc Food CPV Co., Ltd. located at Becamex - Binh Phuoc Industrial Park (Chon Thanh Town) meeting global standards for official export to Japan, which opened up an ample opportunity for Binh Phuoc's business cooperation.

In mid-November 2022, a Japanese business delegation visited and surveyed the business environment of Binh Phuoc. The Japanese investors took the chance to learn the province's potential, strengths, abundant resource, open investment environment, attractive policies on investment incentives, and the commitments of Binh Phuoc’s authority on settling investment procedures as soon as possible in accordance with legal regulations. Sumito Soma, Representative Director of BB Innovation Co., Ltd (a business representative from Japan), shared: "Binh Phuoc has rich natural resources such as wood and farm produce, vast lands suitable for forming tourist attractions or building factories. Geographically, Binh Phuoc is close to major provinces and cities such as Binh Duong and Ho Chi Minh City and borders on the Kingdom of Cambodia. On the way towards a strong growth of the province in the future, I look forward to a more fruitful cooperation between Binh Phuoc and Japanese investors. I think that digital technology is the key.”

For Sakai Hironori, Sakai Hironori, President of the Japan-Vietnam Friendship Association in Hyogo prefecture, he has been more keenly aware of Binh Phuoc's potential via exchange activities with the Provincial People's Committee, industrial parks and enterprises in the province. 

"In my opinion, Japanese companies need to improve distribution channels and human resources, especially a workforce with a command of Japanese are indispensable for Japanese firms. So I hope that the province will soon establish a Japanese language teaching center. Also, I suggest that Binh Phuoc should found a Japanese culture village to stimulate cultural exchange. I place confident expectations on Binh Phuoc in the future.” – said Sakai Hironori.

According to economists, Binh Phuoc is currently a new market with significant advantages in terms of geographical location, abundant land fund, transportation infrastructure that is increasingly fine-tuned, and a growing pool of talents both in terms of quality and quantity. Hence, Binh Phuoc would be a desirable market not only to the Japanese investors but also to their peers worldwide.

For sustainable development

Binh Phuoc's socio-economy has been strongly recovering after the Covid-19 pandemic. It is estimated that in 2022, Binh Phuoc attracted 10,800 billion VND worth of domestic investment capital. Regarding FDI attraction, the total newly registered and adjusted capital reached approximately 150 million USD. The socio-economic stability continued to be a driving force for Binh Phuoc to call for and attract domestic and foreign investment capital. The province currently has 13 industrial zones with a total area of more than 6,000 hectares and an occupancy rate of 53.5%. To date, Binh Phuoc has welcomed 370 FDI projects capitalized at 3 billion 465.7 million USD from various countries and territories worldwide. In particular, Becamex - Binh Phuoc Industrial Park (2,450 hectares) and Minh Hung - Sikico Industrial Park (655 hectares) are two large-scale new industrial parks with modern infrastructure and transportation convenience that are very suitable for investors.

Over the last time, diplomatic and investment promotion activities have played a meaningful role, contributing to introducing and bringing the images of Vietnam and the friendly people of Binh Phuoc – a province full of potentials – closer to international partners and businesses. Binh Phuoc province has initially established a friendship cooperation, opening up many cooperation chances in various fields with local governments of many countries. The province has simultaneously set up relationships and cooperation orientation with potential partners and enterprises in some fields in the coming time.

In addition, Binh Phuoc will continue to deepen its relationship with foreign localities sharing the friendship cooperation through specific and appropriate cooperation programs, especially in trade, tourism, and culture. The provincial authority will bolster investment promotion and further improve the investment environment of Binh Phuoc province in order to attract investors with a focus put on attracting suitable FDI and ODA projects. Moreover, Binh Phuoc will promote coordination with domestic and foreign media agencies to advertise Binh Phuoc province's potential, strengths, and unique cultural values to international friends and investors.