The southeastern province of Binh Phuoc held a workshop in Bangkok on October 17 to invite Thai investors to do business in the province.

Vice Chairman of the Binh Phuoc People’s Committee Huynh Anh Minh
speaks at the workshop in Bangkok on October 17

In his speech at the event, Vice President of the Federation of Thai Industry (FTI) Veerachai Monsintorn highlighted that Vietnam continues to be among top destinations for foreign direct investment (FDI) in the ASEAN. He said in 2018, the country ranked third in terms of FDI attraction in ASEAN, after Singapore and Indonesia, adding that the FDI flow into Vietnam in the first five months of this year was the highest for the period in the past four years, reaching 16.74 billion USD.

Veerachai remarked that the Vietnamese Government is working hard to support foreign investors and attract more to come through trade and tax incentives, while developing infrastructure in large industrial areas. He also noted the young and skilled labour force in Vietnam, along with growing domestic market in both scale and purchase power.       

Vice Chairman of Binh Phuoc People’s Committee Huynh Anh Minh introduced the province’s potential and advantages, including a convenient geographic location and easy access by all transport means. The province is an industrial hub for textile-garment, leather-footwear, electric and electronic appliance, wool processing and renewable energy, especially solar power.

According to Minh, eight industrial parks with complete infrastructure are operating in the country with an occupancy rate of 70 percent. The province plans to have 13 IPs with total area of 4,686ha by 2020, along with the 28,364ha Hoa Lu border economic zone.

Last year, 34 investment projects capitalized at 348.7 million USD were licensed in Binh Phuoc, the official reported.   

He called on Thai firms to invest in the support industry, hi-tech industry and farm processing in Binh Phuoc, stressing that the province will create the best possible conditions for foreign investors, especially those from Thailand.

Businesses from Binh Phuoc took the occasion to meet and reach some cooperation deals with Thai partners.