Southern province attracts large-scale investment projects

The southern province of Ba Ria – Vung Tau last year attracted many large-scale investment projects, and it is noteworthy that the projects fell in the province’s orientations, according the provincial Department of Planning and Investment.
Southern province attracts large-scale investment projects ảnh 1Illustrative image (Source: VNA)
Ba Ria – Vung Tau (VNA) – The southern provinceof Ba Ria – Vung Tau last year attracted many large-scale investment projects,and it is noteworthy that the projects fell in the province’s orientations,according the provincial Department of Planning and Investment.

Prominent among the projects are those on the PP productionand LPG storage of the Republic of Korea’s Hyosung group (1.2 billion USD) andthe paper mill of the Marubeni (211 million USD). Besides foreign investors,the province also attracted capital from domestic groups.

Also last year, Ba Ria – Vung Tau issued licenses for 44 foreignprojects and approved the capital increase for 14 others totaling nearly 2billion USD. All in all, by the end of last year, the province was housing 351foreign investment projects will a total capital of over 27.3 billion USD and532 domestic ones whose combined capital topped 276 trillion VND.

Over the past years, the province has persisted in thepolicy of attracting foreign investment in a selective manner, which hasyielded positive outcomes and helped the local economy develop in the way itopted.

From now to the year 2020, Ba Ria – Vung Tau will call forinvestment to the fields of logistics, tourism, support industry, high-tech agriculture,housing and urban development. As for this year, the province will promoteinvestment to major projects such as the Nui Dinh tourism complex, the safariarea, the urban area, the Cai Mep Ha logistics centre, the Bau Trung urbanarea, and tourism projects along the coast of Vung Tau, Long Hai and Con Daoisland, among others.-VNA
VNA

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