BINH PHUOC (Vietnam News/Asia News Network): The southern province of Binh Phuoc called for Singaporean investment in a number of areas during a conference held in both online and offline formats on Tuesday.
The areas include timber processing and furniture, food processing, goods processing from rubber latex, electronics, supporting industries, commercial centres, vocational training and health care.
Singapore is running 15 projects in Binh Phuoc, with combined investment of US$286mil (RM1.2bil), making up 8.5% of total foreign investment in the province. The projects mainly focus on husbandry, meat processing, and producing animal feed, batteries and accumulators.
Secretary of the provincial Party Committee Nguyen Manh Cuong suggested Singapore expand its investment in other important spheres like urban development, trade, transportation, logistics and services.
Binh Phuoc's authorities will create favourable conditions for businesses to operate in the province, the official pledged.
At the conference, representatives from local departments and agencies cleared up Singaporean investors’ concerns regarding Binh Phuoc’s incentives towards enterprises, saying the province has adopted its own preferential policies on land and corporate income taxes.
Briefing the participants on Binh Phuoc’s advantages, chairman of the provincial People’s Committee Tran Tue Hien highlighted its “golden population” with labourers making up more than 60% of the population.
About 80km from HCM City, Binh Phuoc has 13 industrial parks covering more than 6,000ha, and three more are expected to be opened during the 2021-30 period, she said.