Ben Tre Province: A reliable and promising destination for investors

A promising investment destination

The Ben Tre Provincial People's Committee held an investment promotion conference for 2024 on October 3 under the theme "Ben Tre – Eastern Vision and Sustainable Development Potential." The event aimed to showcase the province's potential, strengths, and development orientation according to the provincial planning for the years between 2021 and 2030, with a vision towards 2050.

According to Chairman Tran Ngoc Tam, the highlights reflecting Ben Tre Province's aspiration for development and strategic vision include the coastal road and the reclaimed land area of approximately 50,000 hectares. This initiative aims to expand the local development space and promote marine economic growth. Furthermore, several local industries, including renewable energy, clean energy, and the marine economy, which encompasses high-tech aquaculture, seafood exploitation and processing, and logistics, are poised to become breakthrough sectors. These factors will help Ben Tre achieve its goal of becoming a prosperous province and a dream destination by 2050.

Ben Tre Province has continuously improved and enhanced the quality of its investment and business environment by creating optimal conditions for businesses to invest and implement projects. The province has successfully improved its Provincial Competitiveness Index (PCI), with the 2023 PCI ranking rising six places from 13th in 2022 to 7th in 2024. Additionally, the province ranks third in the Mekong Delta region.

Additionally, the province has focused on drastic and comprehensive reforms of its administrative procedures, which, in combination with the increased application of information technology, help create the most optimal conditions for investors. As a result, many businesses have chosen Ben Tre Province to establish their operations, collaborate, and contribute positively to the province's socioeconomic development.

A notable investment promotion activity took place in August 2022 when the Ben Tre Provincial People's Committee and the Ehime Prefectural Government in Japan signed a memorandum of understanding on economic cooperation. The collaboration focuses on developing trade, industry, investment, technology, and human resource training, with a particular emphasis on promoting activities in the fields of agro-forestry, fishery processing, and climate change.

According to Hideki Tanaka, special advisor to the Ehime Prefectural Government, Ben Tre Province houses significant potential for cooperation, particularly in the fields of agriculture and fishery, which are experiencing strong growth. He expressed optimism for the development of new products based on collaboration and partnerships among food processing companies within the province. Accordingly, Ben Tre actively attracts foreign investment and aims to become a promising destination for companies from Ehime.

During the conference, Ben Tre announced a list of 32 priority projects for investment solicitation by 2030, which covered various sectors such as infrastructure development and business in industrial parks, petroleum, gas, tourism, agriculture, rural development, and environmental protection.

The Ben Tre Provincial People's Committee also held a ceremony to sign a Memorandum of Understanding with 20 strategic investors and issued investment policy decisions and investment registration certificates for six projects, totaling approximately 8 trillion VND.

Among these projects, Ben Tre issued an investment policy decision for the development of the My Hoa new urban area project (My Thanh An Commune, Ben Tre City), which covers an area of approximately 48.7 hectares. The space is one of three new urban development projects awarded, with a total investment capital of approximately 5.5 trillion VND. These projects contribute significantly to Ben Tre City's development towards a type-1 urban area by 2030.

Significant potential and opportunities for breakthrough development

Deputy Prime Minister Nguyen Hoa Binh noted that Ben Tre Province houses considerable potential and opportunities for breakthrough development, which can benefit the Mekong Delta region and the nation as a whole.

The recently approved provincial planning for Ben Tre adopts a new mindset and long-term vision, utilizing identified potential, opportunities, and advantages to outline development directions, tasks, and solutions for achieving breakthroughs and consolidating set goals. Notably, the plan aims to position Ben Tre as a developed province in the country by 2030. By 2050, it aims to become a prosperous province and a crucial development driver for the Mekong Delta Region and the nation as a whole.

Deputy Prime Minister Nguyen Hoa Binh emphasized the need for the province to effectively utilize resources for socioeconomic investment and development, in addition to enhancing public-private partnerships. He also requested the province to mobilize and efficiently use all available development resources, with a focus on strategic infrastructure, particularly key projects that enhance intra-regional and inter-regional connectivity.

Additionally, the province should accelerate economic restructuring in conjunction with innovative growth models, improve competitiveness, and develop key economic sectors. This effort includes effectively exploiting the potential and advantages of high-tech agriculture and processing industries. Furthermore, Ben Tre must focus on promoting mechanical engineering, manufacturing, electronics, information technology, and new energy sectors.

The Deputy Prime Minister also urged the province to continue making significant improvements to the investment and business environment, focusing on breakthrough reforms to simplify administrative procedures and create a transparent and open investment climate. He emphasized the need to facilitate businesses in exploring and developing investment projects, enhancing investment promotion activities, while also prioritizing entrepreneurship, establishing incubation centers, and nurturing major businesses.

Additionally, the Deputy Prime Minister requested that central ministries and sectors, in compliance with their assigned functions and responsibilities, provide guidance and support to Ben Tre Province in its socioeconomic development tasks. He affirmed that the government remains committed to accompanying the province, allowing Ben Tre to fully utilize its potential and strengths for rapid and sustainable development.

Regarding businesses and investors, the Deputy Prime Minister called for the establishment of long-term, sustainable business strategies and collaboration with local governments to uphold investment commitments and cooperation agreements. Stakeholders should strictly comply with laws, regulations, and policies, thereby contributing to the local socioeconomic development, and actively participate in protecting social welfare.