Binh Phuoc teams up with Ministry to attract investment

April 05, 2019 | 11:15
The Ministry of Industry and Trade (MoIT) is working with Binh Phuoc Province to build a cooperative programme to attract investment to the province.
binh phuoc teams up with ministry to attract investment
A view of Suoi Cam Lake in the southern province of Binh Phuoc. The province is calling for investors to develop the third phase of the Suoi Cam tourism project, expected to cost more than VND1.74 trillion (US$75 million).-VNA/VNS Photo Chi Tuong

A delegation from the ministry led by Minister Tran Tuan Anh met with agencies in Binh Phuoc Province on Wednesday to discuss work on cooperative programmes, including solar power and rural electrification.

The province has asked the Government and the MoIT for approval of 39 solar energy projects with total capacity of 3.506MWp.

Of the 39, five have been approved by the central government and one by the MoIT with total capacity of 850MWp.

Construction of the section of the 220kV Binh Long – Tay Ninh transmission line is scheduled to be completed in 2019.

In addition, the Peoples Committee of Binh Phuoc has approved funds of VND75.5 billion (nearly US$3.3 million) for rural electrification from the national power grid in Binh Phuoc Province in the 2013-2020 period.

During a meeting with a delegation from the MoIT, Nguyen Van Loi, secretary of the Binh Phuoc Provinces Party Committee, noted the problems facing the province, which include incomplete re-structuring of the industrial sector; underdeveloped supporting industries; low added value, and the competitiveness of industries in the province.

Loi said most of the provinces goods were semi-processed products, and the volume of hi-tech products remained low.

Trade was being promoted well, but Binh Phuoc faced challenges in production, manufacturing and consumption, said Loi.

E-commerce has yet to be developed in the province, he added.

The provinces exports have faced challenges as importers have issued strict regulations on the provinces major exports including cashew nuts, rubber and pepper.

Loi said Binh Phuoc had taken measures to mobilise investments in infrastructure development for industrial parks and complexes, energy and commercial facilities.

The province will speed up re-structuring of its industrial production with a focus on processing industries, reducing exports of raw materials, and promoting major industries which use local raw materials.

Binh Phuoc has also made efforts to enhance its production capacity by promoting the production of raw materials and machinery and equipment to replace imported products.

Minister Tuan Anh said the MoIT would work with Binh Phuoc Province to create a cooperative programme to help the province attract investment and build brand names for its products, including cashew nuts, pepper, rubber and energy.

The MoIT will also work with the province to develop industries that have potential in Binh Phuoc, Anh said.

VNA

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