Binh Thuan hopes to attract further investment

Binh Thuan has identified the industrial sector as one of the three pillars of its development, and the province has made great strides in improving the local investment climate and enhancing competitiveness to entice major businesses to the area.

The province has presented solutions on revising local industrial park (IP) development planning scheme attuned to its socioeconomic development master plan for the period 2021-2030, with a vision towards 2050.

In the first half of this year, Binh Thuan ratified 14 different projects, pushing the total number of ventures in the province to 1,620, including 121 funded by overseas investors.

In addition, Binh Thuan is focusing on reforming administrative procedures following the ‘one-stop shop’ model associated with strengthening IT applications. These measures are improving the local investment and business environment to meet the growing requirements of the province's people and businesses.

Binh Thuan is home to Vinh Tan International Port and the construction of Phan Thiet airport is ongoing. The Dau Giay - Phan Thiet and Phan Thiet - Vinh sections of the North-South motorway have been completed and put into operation, facilitating better connections between Binh Thuan and localities in southern Vietnam.

Clearing such infrastructural bottlenecks has been instrumental in growing the number of tourists coming to the province, as well as more foreign-invested enterprises.

By leveraging its immense development potential, Binh Thuan has attracted top domestic and international businesses such as Becamex-VSIP, Sonadezi, AES Group, PV Gas, Power PLC from the UK, and Sojitz from Japan, among several others.

Ham Kiem 1 Industrial Park has proven to be an ideal venue as it's conveniently located close to major roads such as National Highway 1 and the Phan Thiet - Vinh Hao motorway, and has quick and easy connections to Phan Thiet airport, Vinh Tan seaport, and the railways.

The park has recently completed its technical infrastructure and is home to 14 secondary investors from various industries and has a lease rate of over 38 per cent.

Investors at the park also enjoy a favourable corporate income tax policy for a period of 10 years at an annual tax rate of 17 per cent, compared to the standard 20 per cent.

In addition, developer Hoang Quan Binh Thuan Consulting Trading Real Estate Service JSC provides investors with a highly efficient support network, offering incentives for factory and office designs and human resource support.

Binh Thuan is also focusing on attracting and retaining factory staff through innovative housing and public utility schemes to enrich the leisure time of workers, with the developer setting aside 13.5 hectares to build social housing at Ham Kiem 1.

The Ham Kiem 1 housing project has a total investment of approximately $38 million, including 955 town houses and more than 200 apartments.

Building housing complexes at the industrial parks had proven to help workers feel more secure in their jobs and can lead them to be more productive and live better social lives.

Leveraging outstanding values, Ham Kiem 1 IP aims to bring favourable and sustainable investment opportunities, helping businesses to best avail themselves of current economic rebound brimmed with many positive signals.

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