Ba Ria - Vung Tau attracts 40 FDI projects in the first 11 months of 2019

On December 5th, Mr. Nguyen Thanh Long, Acting Chairman of the Ba Ria - Vung Tau People's Committee chaired the regular meeting of the Provincial People's Committee in November 2019 to assess the socio-economic situation, national defense and security in November and the first 11 months of 2019. 

At the meeting, leaders of the Department of Planning and Investment of Ba Ria-Vung Tau Province gave a brief report on the situation of investment environment and investment attraction of the province in 2019. Accordingly, most of the economic indicators grows over the same period. Notably, in terms of foreign investment, in November, the province approved investment policies for 04 projects, with a total registered investment capital of 27 million USD; 04 projects adjusted capital with total invested capital increased by 11.06 million USD. Accumulated 11 months of 2019, the province attracted 40 new projects with a total registered capital of US $ 491.4 million, adjusted to increase capital for 30 projects with a total additional registered investment capital of 449.56. million dollars.

Regarding domestic investment, in November 2019, Ba Ria - Vung Tau approved the investment policy for 3 projects, with a total registered investment capital of VND 1,344 billion; in the first 11 months of the year, 53 projects were approved with total registered capital of VND 12,279 billion, 8 projects increased investment capital with additional capital of VND 1,633 billion and 2 projects reduced investment capital with a decrease of VND 66.4 billion; 22 operating projects and 1 investment policy were terminated.

According to the report of the Department of Planning and Investment, in November and the first 11 months of the year, most economic indicators grew over the same period. Specifically, the value of industrial production excluding oil and gas in November was estimated to increase by 10.47%, that of 11 months was estimated to rise by 9.02%; agricultural production value in November is estimated to increase by 3.49% and that of 11 months is up by 3.45%.

Locating at a strategic position at the gateway to the East Sea, Ba Ria City - the center of Ba Ria - Vung Tau province is the intersection point, connecting the coastal city of Vung Tau with the provinces of Binh Duong, Dong Nai and Ho Chi Minh City, forming the most attractive "quadrilateral" diamond city in the southern market of Vietnam. From Ba Ria, it only takes 20 minutes to Vung Tau, 30 minutes to Long Hai and Binh Chau tourist areas and in particular, adjacent to Long Thanh international airport expected to be completed in 2025. Not only has the advantage of the strategic location, Ba Ria - Vung Tau also has convenient transport infrastructure, high economic growth. Many experts say that foreign investment in Ba Ria Vung Tau province will continue to increase strongly in the near future.