With abundant land resources, Binh Phuoc has the opportunity to welcome a "wave" of 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 High-tech Industrial, Commercial and Agricultural Business Connection Forum - Binh Phuoc province in 2024. Many of the country's leading corporations Europeans such as Heineken, De Heus, Big Dutchman... come to learn about investment opportunities here.
According to a leader of the Binh Phuoc Department of Planning and Investment, perhaps this is the forum that has attracted the most participation of European businesses ever in Binh Phuoc. The number of businesses attending even exceeded expectations, when the hall with nearly 500 seats was empty. That shows that European businesses' investment interest is huge.
At the Forum, the two issues of most concern to European businesses are investment in high-tech agriculture and renewable energy. Mr. Gabor Fluit, General Director of De Heus Asia Group, said that with abundant land resources, Binh Phuoc offers attractive investment opportunities in agricultural development projects and high-value crops. , aquaculture, and large-scale food processing.
In the future, the Vietnam - EU Free Trade Agreement (EVFTA) will create positive developments for Binh Phuoc to expand access to the EU's half-billion consumer market. However, businesses must meet increasingly strict European requirements.
Earlier this year, De Heus Group worked with leaders of Binh Phuoc province to discuss plans to develop and build raw material areas for animal feed production. In particular, the Group wants to invest in a factory to produce animal feed in a chain and invest in further development of the poultry breed field in Binh Phuoc province.
Regarding the field of renewable energy, Mr. Sergio Pereira da Silva, Chairman of the Portuguese Association of Commerce and Industry, highly appreciated the development orientation of Binh Phuoc province towards renewable energy. According to him, with a total number of sunshine hours of about 2.500 hours/year, Binh Phuoc has great potential to develop solar power with large-scale projects.
“We appreciate the fact that Binh Phuoc province has considered developing rooftop solar energy according to the self-consumption model and the behind-the-meter electricity model to transfer energy from one company to another as a in priority action plans for the period 2024-2030. With that great potential, we believe that Binh Phuoc will become an attractive destination for European investors", Mr. Sergio Pereira da Silva assessed.
What to do to take advantage of the opportunity?
Although highly appreciating Binh Phuoc's potential to attract investment, many businesses participating in the Forum said that Binh Phuoc needs to further improve its business environment to attract EU investors.
Mr. Gabor Fluit, General Director of De Heus Asia Group, recommended that to attract European investors, the province needs to improve the business environment by shortening administrative procedures related to businesses. Another important issue is tax reduction or tax subsidies, creating transparency to create confidence for investors to invest long-term in Binh Phuoc.
“European investors want 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 its position as a high-quality, environmentally friendly agricultural center.” , Mr. Gabor Fluit expected.
In response to investors' recommendations, Ms. Tran Tue Hien, Chairman of Binh Phuoc Provincial People's Committee, said that Binh Phuoc is investing synchronously in the transportation infrastructure system. It is expected that by the end of 2026, the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway will be completed; Gia Nghia Expressway (Dak Nong) – Chon Thanh (Binh Phuoc). At that time, the distance from Binh Phuoc to Ho Chi Minh City will be shortened to about 70 km and travel time to seaports and airports will be shortened, better serving the needs of traveling and transporting goods.
Regarding procedures, over 80% of the province's administrative procedures are resolved on the online public service portal. The time to resolve investment administrative procedures at all stages has been shortened to only 2/3 of the time prescribed by the Government.
When investing in Binh Phuoc, investors will enjoy the highest tax incentives and land rent exemptions according to the regulatory framework of the Vietnamese Government. In addition, businesses also receive support for connecting infrastructure to project boundaries, supporting vocational training...
