GENERAL INTRODUCTION ON BINH PHUOC PROVINCE
Binh Phuoc is a Southeast province, located at the Key Economic Zone in the South, average height above sea level of 50m, about 110km away from Hochiminh city with blood-vessel traffic roads such as National Highway No.13., National Highway No.14, Hochiminh road connecting the province with other provinces of Binh Duong, Tay Ninh, Hochiminh City and Highland provinces. Sharing the border of 240km with Cambodia; in the future, Trans-Asia railway through Binh Phuoc to connect Vietnam with Cambodia, Laos, Thailand and Myanmar will open many new prospects for goods trading for not only Binh Phuoc province but also the whole Southeast region.
With the natural area of 687.462ha, favorable climate conditions, fertile soil nature. Population of more than 921,411 people, among those 640,000 people are at working age, average GDP growth per capita of the province reaches 1500 USD. With abundant labor force with the majority of young, active and hardworking labors, the demands for labor of the enterprises and investors shall be perfectly fulfilled.
Binh Phuoc province shall always create the best conditions for the enterprises and investors. In parallel with the synchronous investment into infrastructure, the province will continue constructing many practical and effective polices to attract the investment and applying policies issued by the Central Government flexibly suitable with the existing conditions of the province. The province will also pay attention to implement successfully administration reform and improve the investment environment as well as increase the provincial competitive index (PCI) and prepare clean land fund for investors so that they can set the whole mind in production and business activities stably in the province.
Binh Phuoc has become the reliable investment place for many domestic and foreign enterprises and investors. “Come to Binh Phuoc to persuade your success”
- POLITICAL – ECONOMIC – SOCIAL CONDITIONS
1.1 Security and Political conditions
The security and political conditions of Vietnam are most stable in the region and the world which are favorable conditions for the investors to set the whole mind in their investment, production and economic development activities.
1.2 Population and labor sources
Binh Phuoc province has a population of more than 921,411 people, among those 640,000 people are at working age which is the rich labor source for the industrial development and economic mechanism transition strategy of the province. In the province, there are currently about 21 vocational training centers with the training scale of from 4,500 -5,000labors/year in which 2,000 – 2,500 labors graduated from Universities, colleges, professional intermediate schools with high skills. In addition with the labor source trained outside the province which contributes to increase the trained labor quantity of Binh Phuoc province to approximate 120,000people/year.
Traffic system: The traffic system of the province has been invested to expand and upgrade and all roads are asphalt and concrete roads. In the whole province, there are 02 main National Highways including National Highway No.13 connecting from Hochiminh city, Binh Duong province and through districts of Chon Thanh, Binh Long, Loc Ninh of the province to Hoa Lu International Border Gate and connecting National Highway No.7 of Cambodia with the length through the province of 80km. National Highway No.14 connecting Highland provinces through Binh Phuoc 112.70km. These two National Highways have created many accesses to Highland and Southern provinces and Cambodia to create favorable conditions for domestic and foreign trading activities.
Power station: there are many hydroelectric plants with big capacity in Binh Phuoc province such as Thac Mo hydroelectric plant, Can Don hydroelectric plant, Srok Phu Mieng hydroelectric plant… with the capacity of 288MW and the medium voltage and low voltage lines are covered throughout the province with more than 5,000km of electric line to ensure the power demand for production and domestic activities of the province.
Water system: there are many big water plants in Binh Phuoc province such as Dong Xoai water plant and water plants of Thac Mo, Phuoc Binh, Binh Long, Loc Ninh, Bu Dang with the capacity of from 6,000 – 20,000 m3/day… to meet the water demand for residential areas and industrial projects in industrial parks and complexes.
- POST, TELECOMMUNICATION AND INFORMATION SYSTEM
The post and telecommunication network is covered all communes and wards to meet effectively the demand for international communication and digital information transmission and receiving. Mobile phone network is also covered to most areas of the province. The fiber cable network is transmitted to almost telecommunication stations in communes and districts in the province.
III. INVESTMENT ASSISTANCE SERVICE
Big banks have established their branches in districts and towns such as bank for Agricultural and Rural Development, bank for Investment and Development, Joint Stock Commercial bank for Industrial and Trade, Joint Stock Commercial Bank for Foreign Trade, Saigon Thuong Tin Joint Stock Commercial Bank, Asia Commercial bank, Dong A bank,…
Insurance services have been developed strongly including such insurance companies as Bao Viet, Bao Minh, Prudential… Custom branch is also established at border gates and in parallel custom braches shall be established in industrial parks to meet the custom clearance demand of the enterprises. Besides, other services are also upgraded and become more professional in Binh Phuoc province.
- INVESTMENT ENVIRONMENT
Infrastructure systems in industrial parks and complexes have been completed to attract domestic and foreign investments. Binh Phuoc province has the temperate climate conditions and land favorable for agricultural production development especially for industrial trees with high economic values and productivity such as: rubber, cashew, pepper… Under the ground, there are many minerals such as Kaolin, boxit, puzolan, especially lime with high reserve (300 million tons) which is the material for cement plants with capacity of about 2 million tons/year.
Economic growth rate is high and stable with GDP growth rate of 12.33% for two year 2011 and 2012. In 2012, the state budget revenue reached VND 3,853 billion. Young, active, hardworking labor force to meet the production and business demands of the enterprises and investors.
Recently, Binh Phuoc has implemented many investment promotion policies relating to land tax, land leasing rate, tax exemption and reduction; assistance for human resource training, investment promotion and trademark promotion.
- INVESTMENT ATTRACTION
Until December 2012, in Binh Phuoc province there are more than 3,800 enterprises registered to operate in the province with the registered capital of about VND 28,000 billion. Particularly there are 99 FDI projects with registered capital of USD 815 million. Total invested capital implemented reached USD 342.5 million (occupied 42.4% of total registered investment capital), until now there are 61 projects come into official operation.
Investors in Binh Phuoc province come from various nationalities and territories such as: Korean, Taiwanese, Australian, American, Japanese, Singapore, Brasile,… with current production and business projects are operated stably and created jobs for more than 7,000 labors inside and outside the province.
- AGRICULTURAL – FORESTRY – INDUSTRIAL PRODUCTION
Farming land in Binh Phuoc is very rich and suitable for industrial trees and fruit trees. The area for planting perennial trees in the province is 369,190ha, in which 223,130ha is for rubber trees, 140,150ha is for cashew trees. Binh Phuoc is a province with the biggest area for planting rubber and cashew trees throughout the country.
In position of one of the provinces with highest output of rubber latex and material cashew nationwide, this is the convenient condition for constructing industrial product production factories with the industrial production value in 2012 estimated of VND 20,143 billion.
With favorable natural conditions for development of ecological tourism, currently Binh Phuoc province has promoted the investment for ecological tourism areas such as My Le tourism area, Ba Ra – Thac Mo tourism area,… Annually, the tourism areas attract millions of domestic and foreign visitors to the province for visiting and resting.
(Source extracted from “Guidebook for Binh Phuoc –Vietnam investment promotion” edition 2012.)