Binh Thuan makes efforts to welcome “eagle" investors

This also shows provincial leaders’ great attention and efforts in attracting investment and promoting the province's socio-economic development.

Binh Thuan's potential and advantages have attracted the attention of large investors and domestic and international economic groups in recent years, such as its strategic geographical location with a 192 km long coastline, adjacent to international maritime traffic routes, and diverse resources; The upgraded transport infrastructure system with expressways and Vinh Tan international seaport, etc. In addition, Binh Thuan has 9 industrial parks with a total area of ​​over 3,000 hectares under development, along with preferential policies and investment support of the province, contributing to creating a friendly and effective investment environment.

With such potential advantages, up to now, the whole province has attracted a total of more than 1,650 investment projects with a total registered capital of up to about 1,800,000 billion VND; including foreign direct investment (FDI) projects also account for a significant proportion, focusing on areas such as tourism, industry and renewable energy.

However, according to the general assessment, the investment results are not commensurate with the potential and advantages of the province. Most of them are small or medium-sized projects, with few large projects that are the driving force for local socio-economic development.

In recent years, many domestic and international economic groups have come to Binh Thuan. Investors considered "eagles" are large groups with abundant financial resources and experience in the field of renewable energy. Specifically, Copenhagen Infrastructure Partners (CIP) Group of Denmark is promoting the La Gan offshore wind power project with a total expected investment of up to 10.5 billion USD, showing the large scale of investment of these international investors.

Besides CIP, Enterprize Energy Group is also cooperating with many international partners to implement projects such as the Thang Long Wind Complex, with a total investment of up to nearly 17 billion USD. These investors not only bring capital but also provide advanced technology and technical experience, contributing to promoting the sustainable development of the wind power industry in Vietnam in general and Binh Thuan in particular. However, these "eagle" projects have not yet been implemented because there are some problems that need to be resolved by the Central Government... In fact, in recent years, Binh Thuan has also welcomed "eagles", for example, the Novaworld Phan Thiet project developed by Novaland Group with a total area of ​​nearly 1,000 hectares. The project is a resort-entertainment-commercial complex, including many types of products such as resort villas, commercial townhouses (shophouses) and hotel apartments (condotels). With an expected investment of 5 billion USD, Novaworld Phan Thiet has more than 1,000 international standard facilities, including a conference center, sports complex, water park, PGA golf course, and diverse entertainment and culinary areas. Novaworld Phan Thiet also organizes many cultural and sports events, promoting the diverse local cultural beauty and tourism potential of Phan Thiet.

Recently, with the efforts of the Provincial People's Committee and departments, Ham Tien - Mui Ne New Commercial and Service Urban Area Project in Phan Thiet City has announced the list of winning investors. The two investors who met the preliminary requirements on capacity are the consortium of Phu Quoc Beautiful Sea Investment Company Limited and Ha Long Sun Company Limited. The project has a total estimated investment of more than 11,000 billion VND, with an area of ​​about 219 hectares. The Binh Thuan Provincial People's Committee has decided to approve the investment policy for this project and requested investors to complete the application for approval according to regulations. This project is expected to develop synchronous technical and social infrastructure, including housing, commercial services, public works and green areas.

To attract “eagle” investors for large projects, Binh Thuan needs to continue to implement several important measures; first, completing policy institutions, and infrastructure, especially key traffic routes to increase connectivity and facilitate the movement of investors and tourists, focusing on developing industrial parks, urban areas, and large tourism projects to meet market demand and create momentum for the province's economic development.

Moreover, the province needs to focus on resolving obstacles and difficulties in implementing investment in large projects. One of the main logjams is site clearance, due to the determination of land origin and price, leading to many projects being delayed.

Finally, the business environment needs to be improved, especially in simplifying administrative procedures and providing more complete information to investors, creating a transparent legal environment, making efforts to reform administration, improving the provincial competitiveness index (PCI) and improving the investment environment, to bring Binh Thuan back to 30 leading localities nationwide in attracting investment.