Binh Phuoc plans industrial clusters for $260 million

The southern province of Binh Phuoc plans to establish 35 industrial clusters in its 11 districts and towns by 2030, whose combined capital requirement will be VND5.9 trillion (US$260 million).

Of the 35 clusters, 21 would be constructed on ​​583 hectares of land in the 2020-25 period, said Huynh Anh Minh, vice-chairman of the People’s Committee.

From 2025 to 2030, another 14 industrial clusters will be set up across another ​​580 hectares.

Industries that will be developed within these clusters include agro-forestry products processing, manufacture of rubber and plastic products, metal products, electronic products, engine vehicles, textiles and apparel. These clusters are expected to create around 30,000 jobs.

Till now, the province has 12 industrial parks and one economic zone, 11 of which already have infrastructure investors – nine have been built and are calling for investment, according to the provincial department of planning and investment.

Binh Phuoc has, up to now, attracted 159 foreign direct investment (FDI) projects with an investment capital of around US$1.2 billion, which are valid.

The province is promoting industrial development to boost socio-economy growth and to achieve industrialisation and modernisation. Localities are working to create a favourable climate for investors in industry and services.

Source VNS