Binh Phuoc calls for $23.5 bln investments in 62 projects

Binh Phuoc is calling for investments in 62 projects worth $23.53 billion from both domestic and foreign sources until 2030, per a decision recently signed by the southern province's chairman.

The projects involve infrastructure at industrial parks; residential areas; fruit, cashew, wood and rubber processing; supporting industries; manufacturing; services for export of farm produce; market and mall construction; healthcare; education; residential-commercial-service-tourism areas; agriculture; high technology; renewable energy; and solid waste treatment.

The biggest project is the Dong Phu residential and industrial complex worth $5 billion, covering 6,300 hectares in Dong Phu district. The province also called for both domestic and foreign investments into seven industrial parks.

Other major projects include a $2 billion luxurious resort and golf course in Dong Xoai town on an area of 1,700 hectares; a $1.3 billion complex called Suoi Giai comprising of a golf course, urban area, and shopping center in Dong Phu district, covering 2,000 hectares; and a $2 billion urban area in Dong Phu district on an area of 2,000 hectares.

Notably, it called for investments of $3.28 billion in renewable energy, but only from domestic firms. They include various solar power plants in Loc Ninh and Hon Quan districts, worth $3.2 billion, and the Binh Phuoc biomass power plant worth $80 million.

Binh Phuoc in southeastern Vietnam is a province bordering Cambodia and connecting Vietnam’s southeastern area to the Central Highlands.

The province attracted 25 foreign investments worth $93.79 million in the first eight months of this year. China was the biggest investor with seven licensed projects worth $22.45 million, followed by Thailand with eight, worth $15.49 million.

By sector, Binh Phuoc lured $21.49 million and $72.3 million of foreign investments into agriculture and manufacturing-processing, respectively.