At a working session with local officials on September 4, Hisai Shinji, a representative of the JETRO Office, said JETRO is surveying the investment climate in 22 southern provinces and cities of Vietnam, including Binh Phuoc.
Initial results show that with a favourable geographical location in the southern key economic region, Binh Phuoc is emerging as a magnet for Japanese investors, he noted.
The JETRO representative added while investing in Vietnam, many Japanese companies pay attention to the local transportation system, power supply network and trained manpower.
Valuing Japanese projects in Binh Phuoc, Vice Chairwoman of the provincial People’s Committee Huynh Thi Hang said the province is awaiting a new investment inflow since it is currently home to 13 industrial parks covering thousands of ha of land that are ready to serve investors.
It encourages Japanese enterprises to invest in agricultural product processing, hi-tech farming and supporting industries, she said.
To create the best possible investment climate, Binh Phuoc has been pushing ahead with administrative reforms, the official noted, elaborating that the time needed to license one project is being cut down to just one day, and the online handling of administrative procedures will swiftly assist businesses if necessary.
Regarding issues Japanese firms are concerned about, Director of the provincial Centre for Investment, Trade and Tourism Promotion Vo Dang Khoa said Binh Phuoc is calling for investment to many fields, including those of their concern, which in turn will facilitate the implementation of investment projects.
According to the Binh Phuoc Economic Zones Authority, the province is accommodating 242 foreign-invested projects, including 174 in industrial parks. The Republic of Korea and China are the biggest investors while Japanese investment here remains modest.