Southern Binh Phuoc province attracted 70 FDI projects last year with total capital of $600 million, bringing its total to 346 FDI projects with more than $3.579 billion in capital. With such achievements, Binh Phuoc has been promoting itself as a “magnet” for FDI. It also continues to boost the development of industrial parks, which not only has a positive effect on changes to its economic structure and resolves job needs, but also grows the local budget.

Accelerating urbanization, focusing on industrial development, and investments in transport infrastructure are goals that southern Binh Phuoc province is aiming for to improve the local economy. With a strong rebound, its real estate market is rising and becoming an investment hotspot in the country’s south.

The Binh Phuoc Provincial People’s Committee will be the authorized agency in the construction of the Gia Nghia - Chon Thanh Expressway under the public-private partnership (PPP) mode and with a build-operate-transfer (BOT) contract. The 140-km project is a component of the Ho Chi Minh Highway and connects southern Binh Phuoc province with the central highlands’ Dak Nong province and has total investment of VND23 trillion ($982 million).

The Ministry of Planning and Investment (MPI) worked with southern Binh Phuoc and Binh Duong provinces on July 12 and 13 to remove bottlenecks inhibiting their development, opening up local resources and mobilizing resources from elsewhere to reach socio-economic development goals in both provinces and the southern region as a whole.

Southern Binh Phuoc province will reclaim 26,300 ha of land next year to develop 954 projects serving national defense and security and socio-economic development. It will also change the land use purpose of 105 ha of rice and forestry land.