Binh Phuoc actively pursuing investment from European enterprises

With the participation of nearly 360 domestic and international delegates, including over 100 leaders from major businesses in the European Chamber of Commerce in Vietnam (EuroCham) and those from the Australian Business Association in Vietnam (AusCham), a EuroCham forum for connecting industrial, commercial, and high-tech agricultural businesses was held in southern Binh Phuoc province on March 12. The purpose of the forum was to contribute to enhancing dialogue on key issues within the strategy for digital transformation in agriculture.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien told the gathering that Binh Phuoc holds advantages in vast and fertile agricultural land reserves, with the province advocating for the development of high-tech agricultural zones to attract investors, especially those with extensive experience in this field. This is based on leveraging comparative advantages and value chains, focusing on high-value economic products to meet export demand.

Mr. Gabor Fluit, Chairman of EuroCham, said Binh Phuoc holds a strategic position in the Southern Key Economic Region, serving as an important gateway connecting Vietnam, Cambodia, and the region. With abundant land resources, it offers attractive investment opportunities in projects for the development of high-value crops, aquaculture, food processing, and large-scale production.

“With reductions on nearly 99% of tariffs in the coming decade, Binh Phuoc is well-positioned to benefit from expanding access to the EU’s consumer market of 500 million people,” Mr. Gabor Fluit added.

Moreover, the time for settling administrative procedure in all stages of investment has been shortened to only two-thirds of the time stipulated by the government. In particular, Binh Phuoc is implementing a principle of “4 Goods”: good infrastructure, good human resources, good policies, and good public services.

“Through this forum, experts from EuroCham have proposed solutions to ensure the feasibility of financial resources and to synchronize policies for the development of a sustainable green economy, aiming to achieve Vietnam’s net-zero targets by 2050,” said Mr. Vu Manh Hung, Vice President of the Vietnam Digital Agriculture Association.

According to Deputy Minister Tien, EuroCham businesses not only excel in technology but also have the financial capacity and potential consumer markets, and operate in diverse sectors from agriculture and industry to transportation and accompanying logistics with green development.