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Investors flock to Ba Ria-Vung Tau

Update: March, 05/2015 - 09:11
A view of Ba Ria - Vung Tau sea. As of January this year the province had 303 foreign-invested businesses with a total capital of $27 billion and 430 domestic ones worth VND235 trillion ($11.2 billion). — Photo vccinews.vn
HCM CITY  (VNS) — The southern province of Ba Ria-Vung Tau issued licences for nine projects with a total investment of VND2.6 trillion (US$133 million) on Investment Day 2015 last week.

On its website, the province People's Committee said the nine projects include steel plants and businesses in the property, tourism, oil, and agricultural sectors.

Speaking at the event, provincial leaders said it was a good sign in the new year and promised to continue support for business investors.

Province Party Committee Secretary Nguyen Tuan Minh said businesses involving technology and achieving high value-addition would be favoured, meaning the province would give priority to supporting and environment-friendly industries, high-quality tourism and logistics.

As of January this year the province had 303 foreign-invested businesses with a total capital of $27 billion and 430 domestic ones worth VND235 trillion ($11.2 billion).

Last year it had attracted $294 million worth of FDI, a 36 per cent year-on-year increase, and domestic investment of VND8 trillion ($380 million).

Also last year the frequency of meetings between authorities and business executives increased and administrative procedures were improved to resolve difficulties faced by industry.

People's Committee chairman Nguyen Van Trinh promised greater efforts to resolve problems to create a more competitive and better business environment and make Ba Ria-Vung Tau an ideal destination for both local and foreign investors. — VNS


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