Ba Ria- Vung Tau aims for per capita GRDP of 8,200 USD in 2023

Cai Mep- Thi Vai sea port (Photo: VNA)

Ba Ria - Vung Tau (VNA) – The sea tourism capital of Vietnam’s southern region, Ba Ria- Vung Tau province has set a target of a  per capita Gross Domestic Product (GRDP) of about 8,231 USD (excluding crude oil and gas) this year, and increase of 620 USD compared to that 2022.

Vice Chairman of the provincial People’s Committee Dang Minh Thong said, in 2023, total development investment capital in the province is expected to reach nearly 59 trillion VND (about 2.6 billion USD), up 6.54%. The total local budget revenue is projected at nearly 89 trillion VND (nearly 3.8 billion USD), of which domestic budget revenue is roundly 43 trillion VND.

Accordingly, the province has rolled out action plans for 2023 with a focus on deploying work such as connecting inter-regional infrastructure and key projects, and medium-term public investment projects during 2021-2026. They will also plan out the Bien Hoa – Vung Tau expressway project (the first phase), the Phuoc An bridge, Ring Road No.4; Highway No.994, and coastal road.

The province has also developed projects to lift Ba Ria- Vung Tau into a national economic centre including works on a free trade zone associated with Cai Mep- Thi Vai area, and a project to modernise Cai Mep- Thi Vai sea port, among others.

In 2022, the province achieved significant socio-economic developments (excluding oil and gas) with an expected increase of 10.97% compared to 2021, the highest rise of the province in the past decade.  Budget revenue was estimated at about 110,000 billion VND, reaching 153.4% of the estimate. Domestic revenue reached 45 trillion VND, reaching 130% of the estimate, the highest rate in recent years.

In the same year, the province attracted 58 foreign direct investments, increased capital for 40 projects with a total of newly granted and adjusted domestic and foreign investment capital of about 2.07 billion USD, or 112.77% of the plan./.