Binh Phuoc province will prioritize funding for SUPPORTING INDUSTRIES

The Binh Phuoc province commits to spending 100% of its funds on some expenses to support the in-state industrial business community to become the focal point to supply products for domestic and foreign customers and attract FDI into supporting industries. 
  To promote the development of supporting industries in the area, the People's Committee of Binh Phuoc province has recently issued a Regulation on the management of funding for the field and stipulated specific expenditure for the industries' development activities.

The agencies and beneficiaries of the Regulation are the Management Agency of the Supporting Industry Development Program in the province; the units in charge of performing tasks and projects under the program on the development of supporting industries in the province; beneficiaries and organizations and individuals participating in the implementation of activities under the Supporting Industry Development Program in the province.

According to the Regulation, to connect and support supporting industry enterprises in Binh Phuoc province to participate in the product supply chain for domestic and foreign customers, as well as efficiently promote and attract foreign investment in supporting industries, Binh Phuoc province will spare 100% of the fund on some expenses.

Specifically, the organization evaluates and confirms the capacity of supporting industry enterprises as follows:

• Expenditure on research and development evaluation criteria and indicators
• Expenditure on the conference announcing the evaluation results
• Expenditure on assessing enterprises capacity: The maximum fund spent is 5.6 million VND/enterprise
• Expenditure on consulting and technical support for supporting industry enterprises
• Expenditure on consulting and supporting enterprises to invest in supporting industries.

Evaluate to recognize qualified enterprises that meet international standards:

• Expenditure on research and development evaluation criteria and indicators.
• Expenditure on the conference announcing the evaluation results
• Expenditure on assessing enterprises capacity: The maximum fund spent is 5.6 million VND/enterprise (hiring a domestic expert)
• For hiring foreign experts case, based on the approved level of funding by the Provincial People's Committee of the program, project, and tasks to determine the expense for an enterprise.

In addition, to meet the requirements of global production chains in corporate governance and production management, Binh Phuoc province also funds 100% following the below criteria:

• Assessing the ability and need to apply the standards and management systems in enterprises' production: Spending on research and development evaluation criteria and indicators.
• Assessment of business capacity: The maximum fund spent is 5.6 million VND/enterprise
• Workshop to announce evaluation results

In terms of building programs and organizing training for enterprises, Binh Phuoc province spends 100% to support such criteria as:

• Expenses for program development; printing documents, textbooks serving the classroom; stationery; water
• Expenses for rental of vehicles, halls, and equipment for classes; practical materials (if any)
• Expenses for training for lecturers and technical operating tutors, travel expenses, accommodation, interpretation (if any)
• Expenses for tutees: Food, travel, accommodation (if any)
• Expenses for opening and ending of the academic, printing certificates, medical expenses for classes, and rewards

Regarding the assessment to recognize the corporate governance and production management systems, Binh Phuoc province will support a maximum of 160 million VND/enterprise. The sponsored firm has to satisfy these conditions: it has no more than 200 employees participating in social insurance per year, and meets one of two criteria (total capital is not more than 100 billion VND or total revenue of the preceding year is not more than 300 billion VND)…
 
Furthermore, to support research and development, application of technology transfer and innovation in trial production of components, spare parts, and raw materials, Binh Phuoc Provincial People's Committee agrees to support 100% of expenditures on introducing and disseminating a few production technology processes and technical requirements on supporting industry enterprises within the province.

Binh Phuoc province, the regional industrial production development index increased by 23.23% over the same period in 2021. The processing and manufacturing industry increased by 24.96%; the electricity, gas, hot water, steam, and air-conditioning sectors increased by 3.83%. In particular, some vital industrial products had a remarkable increase compared to the same period in 2021: Electronic component manufacturing services increased by 1.4 times; poultry feed increased by 103.74%; shoe and sandals manufacturing services increased by 68.72%; finishing services of new furniture made of wood and similar materials increased by 44.23%; dried cashew nuts increased by 23.10% over the same period last year.