Bình Phước teams up with Trade Ministry to attract investments

April 05, 2019 - 22:12
The Ministry of Industry and Trade is working with Bình Phước Province to build a cooperative programme to attract investment to Bình Phước Province.



HCM CITY — The Ministry of Industry and Trade (MoIT) is working with Bình Phước Province to build a cooperative programme to attract investment to the province.

A delegation from the ministry led by Minister Trần Tuấn Anh met with agencies in Bình Phước Province on Wednesday to discuss work on cooperative programmes, including solar power and rural electrification.

The province has asked the Government and the MoIT for approval of 39 solar energy projects with total capacity of 3.506MWp.

Of the 39, five have been approved by the central government and one by the MoIT with total capacity of 850MWp.

Construction of the section of the 220kV Bình Long – Tây Ninh transmission line is scheduled to be completed in 2019.

In addition, the People’s Committee of Bình Phước has approved funds of VNĐ75.5 billion (nearly US$3.3 million) for rural electrification from the national power grid in Bình Phước Province in the 2013-2020 period.

During a meeting with a delegation from the MoIT, Nguyễn Văn Lợi, secretary of the Bình Phước Province’s Party Committee, noted the problems facing the province, which include incomplete re-structuring of the industrial sector; underdeveloped supporting industries; low added value, and the competitiveness of industries in the province.

Lợi said most of the province’s goods were semi-processed products, and the volume of hi-tech products remained low.

Trade was being promoted well, but Bình Phước faced challenges in production, manufacturing and consumption, said Lợi.

E-commerce has yet to be developed in the province, he added.

The province’s exports have faced challenges as importers have issued strict regulations on the province’s major exports including cashew nuts, rubber and pepper.

Lợi said Bình Phước had taken measures to mobilise investments in infrastructure development for industrial parks and complexes, energy and commercial facilities.

The province will speed up re-structuring of its industrial production with a focus on processing industries, reducing exports of raw materials, and promoting major industries which use local raw materials.

Bình Phước has also made efforts to enhance its production capacity by promoting the production of raw materials and machinery and equipment to replace imported products.

Minister Tuấn Anh said the MoIT would work with Bình Phước Province to create a cooperative programme to help the province attract investment and build brand names for its products, including cashew nuts, pepper, rubber and energy.

The MoIT will also work with the province to develop industries that have potential in Bình Phước, Anh said. — VNS