Economy
VN's food processing industry struggles to improve quality and value chain integration
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| A cable manufacturing facility at Đất Đỏ District’s Đất Đỏ 1 Industrial Park. Bà Ria – Vũng Tàu Province is seeing rising interest from investors in the tourism, electricity and manufacturing fields. VNS Photo Hoàng Nhị. |
Viet Nam News
BÀ RỊA – VŨNG TÀU — The province was able to attract investment in big projects in 2018, many of which lined up with the province’s goals, according to Bà Rịa – Vũng Tàu Province’s Department of Planning and Investment.
The Hyosung Corporation, for example, invested about US$1.2 billion in a polypropylene manufacturing factory and liquefied petroleum gas (LPG) storage facility in Cái Mép Industrial Park.
The province also signed a commitment certificate with Power Generation Joint Stock Corporation 3 to invest $4.5 billion in a Long Sơn Power Generator.
The end of 2018 also saw a rise of announcements and proposals of property investment in the province because of its developing infrastructure.
Allgreen Vượng Thành – Trùng Dương Co Ltd recently announced a 23ha, 192-apartment Regency Vũng Tàu property project, while many other companies such as FLC and Hưng Thịnh Corp plan to invest in resorts and villas.
In 2018 the province approved 44 new FDI projects and additional investment for 14 foreign direct investment projects, totaling $1.9 billion of registered investment.
In addition, it also approved 59 new domestic projects with VNĐ18.76 trillion (809 million) of registered investment.
The province is focusing on attracting more investment in logistics, tourism, supporting industries, hi-tech agriculture and urban development.
In 2019 it will meet with potential investors in large projects such as the Dinh Mountain Tourism Area in Phú Mỹ Town, Safari Animal Park in Xuyên Mộc District, and in many other tourism and urban areas.
The province is one of Việt Nam’s leaders in FDI attraction. — VNS
