The southern coastal province of Ba Ria-Vung Tau has been suggested to prioritise developing seaports and logistical services in order to lure more foreign direct investment (FDI).

Port services should be developed in tandem with airport services, Depiuty Director of the Central Economic Management Institute Nguyen Thi Tue Anh said at her June 17 meeting with provincial key officials on the FDI attraction strategy in the province.

Over the past years, Ba Ria-Vung Tau has attracted about 300 FDI projects with a total registered capital of nearly 28 billion USD, reported Ho Van Nen, Deputy Chairman of the provincial People’s Committee.

However, the projects mainly involve assembling or sub-contract products, he added, emphasising that the province needs to eye small- and medium-sized enterprises as part of its new strategy in luring FDI.

The institute pointed out the reasons for the work in Ba Ria-Vung Tau, including its weak industry, low involvement of the private sector, high proportion of agricultural labour and large unskilled labour force, as well as cumbersome management and implementation of measures to attract investment.

At the meeting, the institute representative recommended the province focus on manufacturing steel as materials for shipbuilding and engineering while restructuring the steel sector.

Shipbuilding service for the oil and gas and fisheries sectors and maritime security were also recommended for the province, along with the development of the supporting industry and mechanics for other relevant sectors, foods processing, sea tourism and healthcare service.-VNA