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 Economic and social characteristics

Binh Thuan is a coastal Province of southern central region, next to the southern key economic zone. Natural area covers 7,830 sq. km, population: approx. 1.165 million inhabitant. It borders on Ninh Thuan Province to the north and northeast, Lam Dong Province to the northwest, Dong Nai Province to the west and Ba Ria – Vung Tau Province to the southwest. The Province consists of 10 administrative units including: 1 city, 1 town and 8 districts. Phan Thiet city is a center for culture – politics – economics and society of Binh Thuan Province.

Binh Thuan is located in an advantageous position to develop economy, at 200km from Ho Chi Minh City, 120km from Ba Ria Vung Tau, crossed by highway 1A, highway 28, north-south railway.

Binh Thuan is cherished with a quite abundant and various natural resources to develop business operation related to sea, forestry, agriculture, agro-industry, exploitation and especially tourism service.

Tourism potential: as a coastal Province with warm, sunny climate all year round, many clean and beautiful beaches, dreamlike natural landscape, favorable traffic. The coastal area consists of much favorable conditions to call for investment, construction, and development of tourism in fields like sport tourism, sea resort tourism, yacht, fishing, golf court, treatment, etc. and other attractive amusement, entertainment activities. Furthermore, Binh Thuan is also home to many historic, cultural relics and other famous tourism attraction like Duc Thanh school, Dien headland – Ga Canyon, Ta Cu mountain, Ham Thuan – Da Mi lake tourist area, Champa Po Sah Inu tower, Thim master palace, cave pagoda, etc. according to statistics ending in 2007, there were 131 residential facilities, with over 4,575 rooms, in which in which 77 facilities/3,157 rooms rated from 1 – 4 stars, including:

- 8 facilities of 4 stars/749 rooms.
- 10 facilities of 3 stars/675 rooms.
- 25 facilities of 2 stars/1,006 rooms.
- 20 facilities of 1-star/460 rooms.

In 2007, Binh Thuan welcomed to over 1,80 million visitors (in turn) (in which foreign visitor 10% ). Revenues from tourism were 1,060 billion VND, for 106,06% of year plan, increased by 31.99% compared with 2006.

Aquatic product potential: Binh Thuan  has 52,000 sq. km of fishing grounds, Binh Thuan sea is one of large fishing grounds in the country, reserves in seafood is from 220 to 240 thousand tons, home to various varieties with rare, precious, high valued seafood like shrimp, butterfly arca, hairy arca, etc. The area of coastal, riverside land for development of half intensive hatching of shrimp covers approx. 1,000 ha. Coastal area and around island area may be developed with fish breeding in cages and other specialty seafood like grouper, lobster. In East sea, Phu Quy island district is very near to international marine routes, as a intersection of north and south routes and Truong Sa fishing grounds, very favorable to develop seafood processing industry, marine service and tourism.

Binh Thuan agriculture – forestry is diversified, the Province has over 200 thousand hectares of agricultural and with mainly cultivated plants like victual plants, cashew, rubber tree, green dragon fruit, etc. in which green dragon fruit is a famous product with yearly production of approx. 140 thousand tons.

Binh Thuan industry is steadily developed, yearly average growth of  16 - 17%; processing industry for export using local material tends to grow up fast. Some products have seen fair growth like processed seafood, garment, building material, mineral water, fine art handicraft. Many local traditional products grow fast in quantity and quality for export like seafood, process farm produce, garment, mineral sand.

Mineral resources are various in large reserves. Main minerals are glass sand, granitic rock, bentonite, mineral water spring, tilt clay, heavy placer, industry salt. Petrol is an inshore resource that is exploitable with large reserves at black lion, white lion, brown lion, yellow lion, ruby oil fields, etc.

Technical-economic infrastructure was considerably improved, namely: traffic system innovated met the requirements  of socio-economic development. Main traffic routes like Highway 1A, Highway 55, Highway 28; Muong Man – tourist - passenger station under reconstruction; Phan Thiet, La Gi, Phan Ri Cua, Phu Quy ports; general port at Dien place (Ga valley) are under construction – investment. Actually, throughout the Province, there is power supplied; the power supply source is guaranteed from national power grid. The central government planned two charcoal driven power centers in Vinh Tan and Son My, in 2008 to be started with construction of charcoal driven power complex in Vinh Tan at capacity of 4,400MW. The water supply system was improved, expanded to supply enough water to urban area, tourist area, industrial park. Information and telecommunication system is often upgraded, expanded and modernized.

During recent years, Binh Thuan Province attracted many domestic and foreign investors to invest in business, and obtain high efficiency, make the Province economy more exciting. For continuous development, Binh Thuan Province always has to set up a very attractive environment of investment, business, with high competition capacity, good preparation and improvement of H.R. resources, quick improvement of infrastructure, good performance of open, transparent, attractive, and consistent policies in investment. With the guideline for integration, expansion of cooperation relation, friendship, open, Binh Thuan hopes attracting more and more domestic and foreign investors to have interest in the investment into this Province.

 

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Publication Permit: No.47/GP-BC dated 25 January, 2008 by Press-bureau, Informtaion and Communication Ministry