Binh Thuan boasts an attractive, safe, and efficient investment destination

Binh Thuan province not only possesses a favorable location for economic development, but it is also a "bridge" between the Southeast - Central Highlands - South Central regions and is adjacent to the southern key economic region. Along with that, it owns a lot of potential and advantages that can foster the locality has called for investment, and gradually brought efficiency in a number of fields such as Renewable energy (wind power, solar power), tourism, hi-tech agriculture, etc. Up to now, the province has attracted more than 1,600 projects with a total investment capital of VND 331,843 billion. Currently, the number of operative businesses in the locality is about 8,515.

Photo: The province’s production and trade activities.

In the first nine months of this year, the locality has recorded 2 more newly-registered FDI (foreign-invested capital) projects, namely: Investment Research and Investment Project for Son My LNG Terminal of the Joint Venture of Vietnam Gas Corporation - Son My LNG Terminal Holding B.V Joint Stock Company with a total investment of 300 billion VND (about 13 million USD); and Bags-Connection machine of Bags Connection Korea Co. Ltd with a total investment capital of nearly 70 billion VND (equivalent to 3 million USD).

As of now, there are 119 valid FDI projects in the province with a total registered capital of more than 3.4 billion USD, focusing mainly on the fields of tourism - services, industry – construction, etc.

Within the framework of activities to celebrate the 30th anniversary of the re-establishment of Binh Thuan province recently, the Provincial People's Committee also organized a Conference to meet with investors in 2022 with the theme of "Binh Thuan connects potential". This event enhances the introduction of the local's potential and strengths as well as provides information on the orientation of Binh Thuan province's planning for the period of 2021 - 2030, with a vision towards 2050. Those create motivation for the locality to call upon investment resources from domestic and international economic sectors with a focus on 3 pillars: Tourism, high-class entertainment services, commerce, urban areas; Processing - manufacturing industry, renewable energy; High-tech agriculture.

As stated in a message that the province wants to convey to investors, Binh Thuan will continuously pave the way for all investors, as well as set up a friendly and transparent business environment, and commit to fostering the businesses' success.

As announced by the Vietnam Chamber of Commerce and Industry (VCCI), the PCI Binh Thuan Index in 2021 reached 65.96 points, ranking 21st out of 63 provinces and cities (up 13 places compared to the previous year, standing at No. in the good group of the country). In which, 6 out of 10 criteria increase the scores of Transparency; The dynamism of the provincial government; Business support services; Informal expenses; Legal Institutions and Security and Order; Land access.

The score growth has demonstrated the efforts of the authorities at all levels and the business community in improving the local business investment environment.

With the orientation toward sustainable development, Binh Thuan always desires to become an attractive, safe and effective investment destination for all strategic investors. Therefore, in the coming time, the province will keep on improving public administrative services, focusing on investing in infrastructure development, improving the quality of human resource training as well as ensuring a favorable investment environment.

In addition, the locality also takes interest in supporting businesses to proactively adapt, quickly recover and sustainably develop. At the same time, they actively seize opportunities and jointly develop towards the expected success in the near future.