Binh Thuan highlights investment potential

11:29 | 23/05/2017 Investment

(VEN) - Twenty domestic and foreign investors have signed memoranda of understanding (MoU) with the People’s Committee of Binh Thuan Province to invest in agriculture, wind power, farm produce processing and animal husbandry in the southern coastal province. The agreements were inked at the 2017 Binh Thuan Province Investment Promotion Conference that took place in April in Phan Thiet City.  

binh thuan highlights investment potential

PM Nguyen Xuan Phuc (standing, 4th from the right) at the signing of an MoU on investment in Binh Thuan

Speaking at the conference, Prime Minister Nguyen Xuan Phuc said Binh Thuan needs innovative thinking and actions to attract additional domestic and foreign investment, and that improving the quality of overall planning, and key product planning, is necessary for sustainable development.

The Prime Minister also encouraged financial institutions and investors to invest not only in production, but also in infrastructure. Binh Thuan should have specific policies to encourage prestigious and financially strong businesses to invest in the province’s high-potential industries, such as organic agriculture, marine economy, and the processing technology, he said.

The Prime Minister recommended that investors and businesses in Binh Thuan adopt long-term, sustainable strategies, and pursue economic development pertaining to environmental protection and tourism.

Attractive coastline

The Chairman of the Binh Thuan Province People’s Committee, Nguyen Ngoc Hai, said at the conference that with a 192-kilometer coastline, Binh Thuan is endowed with many beautiful beaches, pristine white sand dunes and fresh air. The province is home to many picturesque landscapes, including Ham Tien-Mui Ne, Thuan Quy-Ke Ga, Ta Cu, Ham Thuan-Da Mi, Vinh Hao-Ca Na, Bau Trang, Thac Ba and Nui Ong, in addition to famous historical and cultural relics of the Cham people, such as the Poshainu Tower, Ta Cu Mountain Pagoda, Thay Thim Temple, Hang Pagoda, and more.

Binh Thuan encourages investment in green, sustainable tourism development, renewable energy and high-tech agriculture, seeking to become a center of sea-based tourism and sports, energy and titanium processing.

The province boasts 1,281 ongoing investment projects, totaling almost VND234 trillion in capital, including 381 tourism projects worth VND52.4 trillion, 311 industrial projects worth nearly VND164.7 trillion, 168 petroleum projects, 163 farm produce and forest product projects, 152 service projects, 60 seafood projects, 11 residential area projects, and more.

Binh Thuan is seeking investment in nine tourism, service and infrastructure projects, 31 industrial projects and seven agricultural, forestry and fishery projects from now to 2030.

Conference participants said Binh Thuan should be more active and effective in administrative reform and provide more assistance for investors.

Chairman of the Binh Thuan Province Wind Power Association, Bui Van Thinh, suggested that the government grant local authorities additional authority to adopt specific policies for small to medium-sized enterprises.

On the sidelines of the 2017 Binh Thuan Province Investment Promotion Conference, Minister of Industry and Trade, Tran Tuan Anh, and leaders of the Ministry of Planning and Investment gave investment decisions to a number of projects, including the Hoa Thang 1 Wind Power Plant; Hong Phong 1 and 2 solar power plants; Ham Tien-Mui Ne Tourist Service Center, and a dairy farming center.

The Vinh