A great opportunity for Binh Phuoc to welcome a wave of investment from Europe.

With its abundant land resources, Binh Phuoc has the opportunity to attract investment from Europe in large-scale high-tech agricultural projects and renewable energy projects.

EU businesses are interested in agriculture and renewable energy.

Recently, hundreds of European business leaders gathered in Binh Phuoc to attend the EuroCham Binh Phuoc 2024 Forum on Connecting Industrial, Commercial, and High-Tech Agricultural Businesses. Many leading European corporations such as Heineken, De Heus, and Big Dutchman came to explore investment opportunities here.

According to a leader of the Binh Phuoc Department of Planning and Investment, this is perhaps the forum that has attracted the most European businesses to date in Binh Phuoc. In fact, the number of participating businesses exceeded expectations, with the nearly 500-seat hall completely full. This demonstrates the significant investment interest of European businesses.

At the Forum, the two issues of greatest interest to European businesses were investment in high-tech agriculture and renewable energy. Mr. Gabor Fluit, General Director of De Heus Asia, stated that with its abundant land resources, Binh Phuoc offers attractive investment opportunities in agricultural development projects, high-value crops, aquaculture, and large-scale food processing.

In the future, the Vietnam-EU Free Trade Agreement (EVFTA) will create a positive development for Binh Phuoc, expanding its access to the EU's consumer market of half a billion people. However, businesses must meet the increasingly stringent requirements of Europe.

Earlier this year, De Heus Group worked with the leaders of Binh Phuoc province to discuss plans for developing and establishing a raw material area for animal feed production. Specifically, the Group expressed its desire to invest in a feed production plant as part of a supply chain and to further develop the poultry breeding sector in Binh Phuoc province.

Regarding the renewable energy sector, Mr. Sergio Pereira da Silva, President of the Portuguese Chamber of Commerce and Industry, highly appreciated Binh Phuoc province's development orientation towards renewable energy. According to him, with a total of approximately 2,500 hours of sunshine per year, Binh Phuoc has enormous potential for developing large-scale solar power projects.

“We appreciate that Binh Phuoc province has considered developing rooftop solar energy using a self-consumption model and a post-meter electricity model to transfer energy from one company to another as one of its priority action plans for the 2024-2030 period. With such enormous potential, we believe that Binh Phuoc will become an attractive destination for European investors,” said Sergio Pereira da Silva.

What can we do to take advantage of this opportunity?

While acknowledging Binh Phuoc's potential for attracting investment, many businesses participating in the Forum believe that Binh Phuoc needs to further improve its business environment in order to attract EU investors.

Mr. Gabor Fluit, General Director of De Heus Asia, recommended that to attract European investors, the province needs to improve its business environment by streamlining administrative procedures related to businesses. Another important issue is reducing or subsidizing taxes, creating transparency to build trust for investors to make long-term investments in Binh Phuoc.

“European investors are eager to join hands and bring the best resources to Binh Phuoc, especially in high-tech agricultural production. With investment from EU businesses, Binh Phuoc can boost exports, comply with strict EU regulations, and establish itself as a center for high-quality, environmentally friendly agriculture,” Mr. Gabor Fluit expected.

Responding to investors' recommendations, Ms. Tran Tue Hien, Chairwoman of the People's Committee of Binh Phuoc province, stated that Binh Phuoc is investing in a comprehensive transportation infrastructure system. It is expected that the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway and the Gia Nghia (Dak Nong) - Chon Thanh (Binh Phuoc) expressway will be completed by the end of 2026. This will shorten the distance from Binh Phuoc to Ho Chi Minh City to approximately 70 km and reduce travel time to seaports and airports, better serving the needs of travel and goods transportation.

In terms of procedures, over 80% of the province's administrative procedures are processed through the online public service portal. The time taken to process investment-related administrative procedures at all stages has been shortened to only two-thirds of the time stipulated by the Government .

When investing in Binh Phuoc, investors will enjoy the highest preferential policies regarding taxes and land lease fee exemptions according to the regulations of the Vietnamese Government. In addition, businesses will also receive support in connecting infrastructure to the project boundaries, vocational training support, etc.

Source: https://baodautu.vn/co-hoi-lon-de-binh-phuoc-don-song-dau-tu-tu-chau-au-d211244.html