Investment capital in Ba Ria-Vung Tau slows in Q1

Cai Mep-Thi Vai port in Ba Ria-Vung Tau (Photo: VNA)

Ba Ria – Vung Tau (VNA) – Investment attraction in industrial parks (IPs) in the southern province of Ba Ria - Vung Tau showed signs of slowing down in the first quarter this year, reported the management board of the provincial IPs.

Specifically, they drew four new projects worth 35.44 million USD which occupy a total area of 10.57ha during the period, head of the board’s investment management office Nguyen Van Phu told a meeting chaired by Chairman of the provincial People’s Committee Nguyen Van Tho on March 13.

Of them, three were foreign-invested ones and the remainder was from a domestic source.

Besides, three domestically-invested and nine FDI projects registered an additional capital of 6.6 trillion VND (286.9 million USD) and 66.15 million USD, respectively.

As of March 13, there were 553 valid projects in local IPs, including 278 domestic and 25 foreign ones. The total leased land area was 3,389 hectares, reaching an occupancy rate of 55.82% out of the total 15 IPs in the province and 65.92% out of the total IPs with completed infrastructure.

The board attributed that to political conflicts and increasing inflation in the world that hurt the global and domestic economy. Investors still face difficulties in their business operations, with broken supply chains and falling revenue, leading to limited investment capital.

Speaking at the event, Tho said the province targets attracting investment selectively, with a focus on eco-friendly and hi-tech projects.

He also asked the departments, agencies and localities to offer all possible support to businesses and investors to step up infrastructure construction and site clearance./.