Binh Phuoc calls for investment from Italian enterprises

The People’s Committee of southern Binh Phuoc province and Becamex IDC Corporation held a teleconference to call for investment from Italian enterprises on November 8, 2022.
Binh Phuoc calls for investment from Italy
Vice Chairman of the provincial People’s Committee Tran Van Mi speaks at the event (Photo: VNA)

Italy is now the fourth biggest trade partner of Vietnam in the European Union. Meanwhile, Vietnam is the largest trade partner of Italy in the Association of Southeast Asian Nations (ASEAN), with two-way trade growing over the past years.

In the first eight months of 2022, two-way trade hit 4.25 billion USD, up 13.9% year on year. Of which, over 3 billion USD was Vietnam’s exports, mostly footwear, coffee, aquatic products, apparel, and handicrafts. Vietnam mainly imported footwear, chemicals, machinery, transport vehicles, sanitary equipment, medical supplies, and household appliances from the European country.

Speaking at the event, Vice Chairman of the provincial People’s Committee Tran Van Mi wished that Italy’s big and small and medium-sized enterprises would invest in Binh Phuoc.

Italy now ranks 34th out of 139 countries and territories investing in Vietnam with total registered capital of 409.46 million USD. So far, Binh Phuoc has attracted 366 foreign-invested projects worth 3.44 billion USD and has yet to attract any Italian investor, he said.

According to the official, Binh Phuoc is now home to 13 industrial zones covering a total area of over 6,000ha and occupancy rate of 53.5%.

Binh Phuoc pledges to improve its business environment, ensure transparency and fine-tune policies to draw more investment, he said.

Nguyen The Duy, Becamex IDC Marking Director of English-speaking markets, introduced the potential and business opportunities of Binh Phuoc province and Becamex - Binh Phuoc Industrial Park invested by Becamex IDC.

On the occasion, the provincial authorities and Becamex IDC also vowed to always stand side by side with businesses and tackle their difficulties.

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(Source: VNA)