Facilitated by a modern synchronous infrastructure, an open investment environment, attractive preference policies and commitments to resolve investment procedures quickly, industrial zones and Hoa Lu International Border Gate Economic Zone of Binh Phuoc province are becoming favorite choices and desired destinations of many domestic and foreign investors. Our reporter has an interview with Mr. Nguyen Minh Chien, Director of Binh Phuoc Economic Zones Authority, on this issue.
The delegation of Binh Phuoc province, led by Vice Chairman of the Provincial People's Committee Tran Van Mi at a working session with the Becamex - Binh Phuoc Industrial Park
Could you please briefly introduce potential, advantages, orientations, and incentive policies for investment projects in industrial parks and Hoa Lu International Border Gate Economic Zone of Binh Phuoc province?
Located in the southern key economic zone, Binh Phuoc province plays an important role in the East-West Economic Corridor, a gateway for economic, cultural and social exchanges between the Southeast and the Mekong Delta with the Central Highlands and the Laos - Vietnam - Cambodia Development Triangle. Having a large land area, mild climate, flat terrain, synchronous transport infrastructure system, abundant labor resources, competitive costs, and friendly investment incentive policies, Binh Phuoc province is an attractive destination for investors.
Currently, the province has 15 industrial parks approved by the Prime Minister, including 12 operational parks with average occupancy rate over 68% (Minh Hung - Korea Industrial Park is invested by Korean investors), three under construction, covering 1,375 ha of land (317-ha Bac Dong Phu, 480-ha Nam Dong Phu and 578-ha Minh Hung III). Becamex Binh Phuoc Industrial Park (2,450 ha) and Minh Hung - Sikico Industrial Park (655ha) are the two largest, with synchronous infrastructure and convenient transportation. Minh Hung - Sikico Industrial Park was recognized by VCCI as "Typical Industrial Park in 2022". In addition, Hoa Lu International Border Gate Economic Zone, which covers 28,000 ha, is ready to serve investors.
In 2021 - 2025, the province will continue to offer incentives and support to domestic and foreign companies investing in 80 projects worth more than US$2 billion. These projects are specialized in manufacturing advanced electronic components, industrial components, apparel, furniture, materials for the textile and garment production, and materials for leather and footwear production. In addition, they are engaged in high-tech agriculture: agricultural product processing (e.g. pepper, cashew and coffee), rubber manufacturing and processing, petrochemical production, and rubber tire production.
In 2018 - 2022, Binh Phuoc attracted more than US$2.79 billion of foreign direct investment (FDI), bringing the number of effective FDI projects to 375 with a total of US$3.498 billion of investment capital. Would you be kind enough to tell us more details about these impressive results?
To achieve the above results, the Party and authorities of Binh Phuoc province have gradually built an enabling administration and accompanied businesses and investors. The province always considers the success of investors as its own. In addition, with good infrastructure, good human resources, good policies and good public services, the province is determined to provide the best services for investors.
Following the direction of the Provincial Party Committee and the Provincial People's Committee with the spirit of “going with companies”, the Binh Phuoc Economic Zones Authority regularly reviews, manages, and enhances the effect and quality of administrative procedure services for enterprises. Currently, all administrative procedures of Level 4 are handled online, with 44 out of 48 administrative procedures connected to the national public service portal, accounting for 91.7% (Total administrative procedures of Binh Phuoc province connected to the national public service portal are 1,436 out 1784 procedures, accounting for 80.5%). Thereby, this creates favorable conditions for individuals and businesses to handle administrative procedures, and at the same time contributes to building a modern e-government.
Minh Hung III Industrial Park
Global investment redirection has opened up opportunities to attract investment flows for industrial zones and economic zones throughout the country. To increase investment inflows, how is investment promotion focused on by the Binh Phuoc Economic Zones Authority?
Investment promotion is one of the important tasks of the province. Like other localities in the country, Binh Phuoc defines that reforming investment promotion is an important breakthrough to attract resources and create momentum for socioeconomic development in the new period.
Hence, investment promotion has been gradually reformed by the authority to enhance the quality of contents and methods and diversify partners. The authority has actively approached investors and major markets that can unlock locally potential industries and fields. Apart from traditional partners such as Japan, South Korea, Taiwan and Singapore, the authority has also expanded its scale and focus on overseas Vietnamese doing business and living abroad, to invite them to study and invest in the province.
In the coming time, what solutions will the Binh Phuoc Economic Zones Authority apply to increase investment capital into industrial and economic zones? What is the message to businesses and investors?
As a manager and provider of public services and support services, the Binh Phuoc Economic Zones Authority always welcomes and accompanies investors, from the time they research and carry out their projects until the time they bring their projects into operation.
To facilitate businesses and investors to carry out their projects, the authority continues to effectively implement solutions to reform and simplify administrative procedures in the spirit of enabling, developing and creating a favorable business and investment environment; speeds up information technology application to deliver public services; and improves the sense of responsibility and quality of consulting, guiding and handling procedures for investors.
Additionally, the authority has promoted investment in transport infrastructure to connect the Southern Key Economic Zone and the Central Highlands to shorten the time and cost of freight transportation.
The authority has further improved the investment environment, enhanced competitiveness and created advantages in investment attraction; reformed methods to draw more investment flows; developed investment promotion plans in various forms (directly and electronically); and prioritized big investors with strong financial health, advanced environment-friendly technology, and high return on investment.
Regarding the success of investors and companies as its own, Binh Phuoc province is always ready to welcome investors, especially foreigners. We are committed to accompanying, supporting and facilitating businesses in every activity.
Thank you very much!
Nguyen Bach, Vietnam Business Forum
Vietnamese
October 2024
Hanoi