The authorities of the southern province of Binh Phuoc on December 16 held a virtual investment promotion conference with enterprises from the Republic of Korea (RoK).

Tran Tue Hien, Chairwoman of the Binh Phuoc People’s Committee

At the conference, a number of veteran RoK investors in the province including HCM Vina and Hankuk Carbon introduced the local business environment and incentives for their compatriots who want to know more about Binh Phuoc’s transport infrastructure and regulations on construction and the employment of labours.

Tran Tue Hien, Chairwoman of the provincial People’s Committee, said with an open business environment, preferential policies, and time-saving administrative procedures, Binh Phuoc is emerging as an attractive destination for foreign investors, especially those from the RoK.

In 2020, Binh Phuoc attracted 36 FDI projects worth US$432 million. To date, the province has lured 272 FDI projects whose capital amounted to US$2.7 billion. Of the total, 90 projects worth US$664 million are from the RoK, making it the largest foreign investor in the province.

Hien called for RoK’s investment in a series of sectors like electronics, farm produce processing, support industry, and high-tech agriculture.

The local leader vowed to offer the best conditions possible for investors’ production and business operations regarding land clearance, administrative procedures, infrastructure, and policies.

Currently, Binh Phuoc has 13 industrial parks spanning a total of 4,686 ha.