Attracting investment and developing industries

In Binh Thuan, industry is identified as one of the three economic pillars, thereby creating an important driving force to promote local socio-economic development...

Promote investment project attraction

The province currently has 8/9 industrial parks (IPs) implementing infrastructure investment, of which some IPs have been basically completed such as Phan Thiet IP Phase 1, Phan Thiet IP Phase 2, Ham Kiem IP I, Ham Kiem IP II, Song Binh IP... In addition, in Binh Thuan, there are 27/36 industrial clusters established according to the plan, of which 15 industrial clusters have promoted infrastructure investment. In the past time, the province's IPs have attracted 85 secondary projects (including 59 domestic investment projects, 26 foreign capital projects), with industrial clusters calling for about 175 investment projects. That does not include 3 large-scale projects recently approved for investment in Binh Thuan: Son My LNG Port Warehouse (registered capital of 31,434 billion VND), Son My II Thermal Power Plant (over 49,500 billion VND), Son My I BOT Thermal Power Plant (nearly 47,470 billion VND).

In developing energy sectors, Binh Thuan also considers attracting LNG power development... (Illustration photo).

Along with mobilizing resources to invest in infrastructure for this sector, the locality also focuses on encouraging investment attraction and developing industries. As with the energy industry, the province has synchronously implemented many solutions to effectively exploit potential, aiming to turn Binh Thuan into a national energy center. Up to now, there are 47 power plants in operation (including 4 thermal power plants, 7 hydropower plants, 9 wind power plants, 26 solar power plants, 1 diesel power plant) with a total capacity of 6,523.21 MW and a total designed power output of 31 billion kWh/year...

Regarding the agricultural, forestry and fishery processing industry, in addition to increasing project attraction, the locality also encourages enterprises to invest in research and development, innovate production technology, apply advanced quality management systems and create more jobs for rural workers... According to the Binh Thuan Industrial Park Management Board, up to now, there are 19 projects in the industrial park participating in production and business in the agricultural, forestry and fishery sector and most of them have come into operation, creating jobs for nearly 2,900 workers.

Continue to develop industries

According to the orientation, the locality will continue to review, adjust and supplement land use planning, create more land funds to attract industrial development projects in Binh Thuan. At the same time, promote the planning of high-tech industrial parks in suitable, convenient and attractive locations to thereby call for investment and strive to form a modern high-tech industrial park after 2025.

Along with that, continue to attract investment to develop the energy industry to become a key economic sector to promote local economic growth, especially prioritizing the development of offshore wind power, LNG gas thermal power and research on pumped storage hydropower. Strive to achieve an average growth rate of production value of the electricity production and distribution industry of 14.5% per year by 2025, accounting for 60-65% of the industrial structure of Binh Thuan... In particular, the mineral exploitation and processing industry will closely coordinate with central ministries and branches to effectively carry out investment promotion to attract investors with capacity, experience, advanced technology, and environmental friendliness. Thereby aiming to exploit and deeply process titanium mineral sand as well as increase the search for domestic consumption markets and export of deeply processed products from titanium ore.

In the coming time, the locality will also pay attention to calling for investment to create a breakthrough for the agricultural - forestry - fishery processing industry associated with the province's typical strengths and create high added value. On the other hand, it also encourages businesses to research and invest in developing new products, deeply processed products associated with joint ventures, associations, and cooperation to jointly invest and exploit potentials and advantages to bring higher efficiency. At the same time, develop the production of raw materials, accessories for the textile - garment, leather - footwear industries and the production of electrical equipment, electronic components, new materials. Or attract the development of high-tech industry, software industry and environmental industry, mechanical industry, shipbuilding and repair for offshore fishing or production of construction materials, electricity - water supply, waste and wastewater treatment ... to effectively implement the goal of sustainable industrial development.

In the coming time, Binh Thuan will also consider innovating and improving the effectiveness of investment promotion activities, introducing and promoting the province's potential, strengths, and investment incentive policies. In particular, it will focus on attracting strategic investors with financial potential and modern green technology, especially in the energy industry, processing, manufacturing, mechanics, electronics and supporting industries to effectively exploit the potential advantages of the locality...

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