Over the past three decades, Ba Ria – Vung Tau has firmly established itself as one of the fastest-growing provinces in Vietnam. Its GRDP consistently ranks among the top in the country.
In the first nine months of 2024, the province exceeded 13 out of its 14 key economic targets, with its GRDP (excluding oil and gas) growing by 11.46%, the highest rate in the past decade, placing it fourth nationwide.
As of now, Ba Ria – Vung Tau is home to 489 foreign direct investment projects, with a total registered capital of 33.45 billion USD, and 697 domestic investment projects, totaling about 16 billion USD.
The province's economic growth is underpinned by four key pillars: industry, ports and logistics, tourism, and high-tech agriculture.
In its 2021–2030 development plan, with a vision for 2050, Ba Ria – Vung Tau aims to solidify its position as a key driver of economic development within Southeastern Vietnam. By 2030, it seeks to be recognized as a national marine economic hub, ranking among the top five provinces in Vietnam for marine economic development.
The province also plans to meet the criteria for a centrally governed city, with a multi-centered urban structure and an integrated, multimodal transportation network.
In the industrial sector, the province plans to develop large-scale industrial-service-urban complexes. To develop the maritime services and logistics sector, the province will leverage the role of its national gateway port system, continuing to modernize and upgrade the Cai Mep–Thi Vai International Gateway Port into a major regional and global transshipment hub.
For tourism, Ba Ria – Vung Tau will capitalize on its advantages in coastal areas, islands, mountainous landscapes, rich biodiversity, and cultural and historical resources to become a high-quality tourism center of national and international significance.
In terms of the marine economy, the province aims to develop into a national marine economic hub, meeting national criteria for sustainable marine economic development./.
