Processing cashew nuts for export. Illustrative image (Source: VNA) Binh Phuoc (VNA) - The southernprovince of Binh Phuoc has attracted eight foreign direct investment (FDI)projects, with a combined registered capital of 31.8 million USD in the firstsix months this year.
The figure is below the province’s expectation, requiring local policy makersto revise a specific strategy to increase FDI attraction.
As an effort to improve business and investment climate,monthly dialogues have been conducted to help enterprises and investorsoperating in the Binh Phuoc, Director of the provincial Department of Planningand Investment Vo Sa said, adding that numerous measures have been taken toattract investors, particularly the construction of infrastructure facilities inindustrial parks and clusters.
The construction of infrastructure facilities isunderway to lure investors in big industrial parks, such as the 2,000ha Becamex– Binh Phuoc urban and industrial zone, while Dong Xoai 3 IP, Minh Hung –Sikico IP, Hoa Lu border gate economic zone are ready for investors to land in.
However, geographic location, poor transportsystem and limited human resources are the province’s disadvantages inattracting investment, according to experts.
Tran Dinh Thien, deputy head of the Vietnam Economic Institute,suggested Binh Phuoc take advantages of its vast land and favourable climatecondition to develop high-valued industrial plant material areas, such as cashewnuts, pepper, rubber, fruit trees, particularly clean vegetables to supply forHo Chi Minh City.
The provincial People’s Committee has approved aplan to develop smart and hi-tech agriculture to lure investors. Under theplan, the province has zoned off 1,000 ha for hi-tech agriculture in Loc Ninh,Hon Quan districts and Dong Xoai town.
Secretary of the provincial Party Committee Nguyen Van Loi urged sectors tocall for investment in the smart agriculture production chain, particularly theregional connectivity to ensure a sustainable source of clean materials, suchas cashew nuts and peppercorns.
Dozens of cooperatives have been established andjoined the chain. The clean pepper growing model has proven effective and beenmultiplied across the province.
According to Director of the provincialDepartment of Agriculture and Rural Development Tran Van Loc, the province hasover 134,000 hectares of cashew trees, accounting for nearly 50 percent of thenation’s coverage, producing 280,000 tonnes per year.
Over 70,000 tonnes of cashew nuts are shippedabroad each year, generating 504 million USD or one third of the province’sexport values.
The locality also has over 270 plants and over1,600 small facilities processing cashew nuts, creating jobs for 50,000labourers.
Currently, the province is home to 163 FDI projects, worth nearly 1.5 billionUSD.-VNA
VNA
