Binh Phuoc province grants investment licenses to 19 projects totalling 1 billion USD on August 20 (Photo: VNA)

Binh Phuoc (VNA) – Nineteen projects with total capital of 1 billion USD received investment licenses at an investment promotion conference of southern Binh Phuoc province on August 20.

They consist of nine foreign invested projects worth over 312 million USD and 10 domestic ones worth over 14 trillion VND (596 million USD).

Binh Phuoc, part of Vietnam’s southern key economic region, is currently home to 6,425 businesses whose combined capital surpasses 53.5 trillion VND (2.3 billion USD). It recorded 568 new companies with registered capital of nearly 7.5 trillion VND (322.6 million USD) between January and July.

Meanwhile, the province has attracted 22 foreign invested projects worth 314 million USD so far this year. At present, it houses 185 FDI projects, 125 of which has become operational and provided jobs for 48,500 people.

Chairman of the provincial People’s Committee Nguyen Van Tram said Binh Phuoc has paid special attention to developing industry in recent years. Eight industrial parks covering over 1,190ha of land have been put into operation. The province expects to have 13 industrial parks with a total area of nearly 4,700ha and a 28,300ha economic border zone at the Hoa Lu International Border Gate by 2020.

Notably, the province is completing infrastructure and attracting investment into the Becamex Binh Phuoc industrial and residential zone in Chon Thanh district. 

This zone covers more than 4,600ha and has been invested with 21 trillion VND (903 million USD) to upgrade infrastructure. It has been almost fully connected with nearby Binh Duong province and Ho Chi Minh City, a very favourable condition for investors’ production and business activities, he said.

Tram stressed that Binh Phuoc will promote industrial restructuring by prioritising industrial products with high competitiveness and those serving agriculture. It will also enhance investment partnership with other provinces and Vietnamese and foreign businesses.

The province pledges to effectively use investment capital, capitalise on internal resources while making use of external factors and foreign capital, especially public-private partnership investments, to boost local development, the official added.-VNA