HCM CITY – The southern province of Bà Rịa – Vùng Tàu on Thursday issued licences to seven projects and greenlighted two others with the nine having a total investment of over VNĐ12.5 trillion (US$548 million).

They include some large projects like an LNG plant to be put up by PVGAZPROM NGV at a cost of nearly $13 million and a capacity of 20 million cubic metres a day.

The Đá Bạc 4 Solar Power Plant by Đông Á Châu Đức Joint Stock Company will cost nearly VNĐ1.1 trillion ($48 million).

The others are the Vũng Tàu – Côn Đảo high-speed boat service, a plant to manufacture cement additives, construction of housing for steel workers, expansion of the Hưng Thái Inland Container Depot, and a coffee plant.

The two projects approved were a high-tech industrial - urban - service zone and expansion of the B1 Conac Industrial Zone.

The licences and approvals were given at the Enterprises and Investors Meeting organised on Thursday to bring together over 200 domestic and foreign investors in the province.

Authorities also showcased the province’s potential to the investors but said they would remain selective in issuing licences.

Provincial Party Committee Secretary Nguyễn Hồng Lĩnh said, “Bà Rịa – Vũng Tàu will continue to select experienced investors with strong enough capacity to execute large projects.”

The province would continue to focus on the five economic pillars of manufacturing, ports, logistics, tourism, and high-tech agriculture, he said, promising short shrift to investors of tardy projects to make way for new ones.

Last year 103 new projects were licensed, 44 of them foreign-invested, putting the province second in the country’s list of foreign investment.

Another 29 projects, 18 of foreign, undertook expansion.

This is an important year for Bà Rịa – Vũng Tàu Province in fulfilling its 2016-20 five-year plan.

Its authorities have assured investors they would resolve all their difficulties. –  VNS