Binh Phuoc’s potential introduced to Australian partners

10:13 | 26/05/2023 Investment Follow Ven.vn on

A seminar was held in Sydney on May 24 to introduce and popularise new investment opportunities in Binh Phuoc, a southern Vietnamese province of great potential, on the occasion of the 50th anniversary of Vietnam-Australia diplomatic ties.

Speaking at the event, Vietnamese Consul General in New South Wales, Queensland and South Australia Nguyen Dang Thang said over 60% of population in Binh Phuoc are in working age, higher than the average rate of the country at more than 50%.

Binh Phuoc is a strategically located province with convenient access to airports and seaports. It is situated in the southern economic hub of Vietnam, an area that contributes half to the country's gross domestic product (GDP).

Binh Phuoc’s potential introduced to Australian partners

Vice Chairwoman of the provincial People’s Committee Tran Tuyet Minh (C) meets with bussinesses in Australia - Photo: VNA

He said manufacturing and processing projects account for over 25% of the total invested by Australian firms in Vietnam, and this is also an area where Binh Phuoc has favourable conditions.

Secretary of the Binh Phuoc provincial Party Committee Nguyen Manh Cuong introduced local strengths, demand and incentives to foreign investors while also committing to creating the most favourable conditions for them.

He hoped that via the event, both sides will open up cooperation opportunities, especially in fields of Binh Phuoc’s strength such as transportation and industrial park infrastructure, economic zones, industrial clusters, labour, business environment improvement and administrative reform.

Vice Chairwoman of the provincial People’s Committee Tran Tuyet Minh said with good infrastructure, human resources, policies and public services, Binh Phuoc calls on Australian firms to invest in industrial park infrastructure, entertainment areas, industrial processing, logistics, information technology, high-tech and eco-friendly projects and those that generate high added value.

Micheal Sharpe, National Director Industry of the Advanced Manufacturing Growth Centre (AMGC), said it is time for Australia to consider Vietnam a major market to establish manufacturing facilities, which would bring advantages and excellent opportunities for both countries.

Australian firms put forward numerous initiatives to expand cooperation with Binh Phuoc across priority areas.

Source: VNA

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