Ba Ria-Vung Tau improves investment climate

11:44 | 20/03/2015 Industry

(VEN) - Since 2010, Ba Ria-Vung Tau Province has made constant efforts to improve its investment climate.

Ba Ria-Vung Tau improves investment climate

Port service development will be increasingly invested in the coming time

The one-door policy

Domestic and foreign enterprises have been playing an important role in the province’s socioeconomic development. Domestic and foreign investment projects in Ba Ria-Vung Tau annually accounted for almost 80 percent of all investment capital in the province.

Creation of an open investment environment and investment procedure simplification is one of the key tasks in Ba Ria-Vung Tau. The provincial Department of Planning and Investment and the provincial Industrial Zones Authority provide guidelines and pave the way for investors inside and outside industrial zones accomplish investment registration formalities according to the one-door policy.

On April 19, 2007, the Ba Ria-Vung Tau Province People’s Committee issued Decision 23/2007/QD-UBND providing guidelines for implementing investment projects including those outside provincial industrial zones while continuing to improve and simplify investment and business establishment procedures in Ba Ria-Vung Tau.

Ba Ria-Vung Tau currently has many large-scale projects in the fields of industry, seaports and tourism, which contribute to promoting growth and economic restructuring and add capital to development investment in the province. They also contribute to increasing the province’s exports and budget revenue and job creation in the province. The achievements are attributed to simplified administrative procedures.

Improving international integration capability

In recent years, the province implemented various activities to improve its investment environment and stimulated investment promotion activities. The province organized the Japan Desk in Ba Ria-Vung Tau with the assistance of Japan International Cooperation Agency (JICA) experts to improve the investment climate and investment promotion capability, improved amended procedures for investment outside industrial zones (attached to Decision 23/2007/QD-UBND dated April 19, 2007. The province attached much importance to international economic integration in 2014 and will continue doing so in the following years to improve its international economic integration capability. Ba Ria-Vung Tau will continue building and implementing a strategic scheme to attract foreign direct investment to 2020 and with a vision to 2030.

Ba Ria-Vung Tau will continue to develop industry, giving priority to investment in support industries and investment from Japan. The province will implement logistics service development projects, giving priority to planning construction of a Cai Mep Ha Logistics Center and a Ba Ria-Vung Tau International Entrepot Port until 2020 with priority given to logistics services, supporting industries, agriculture, urban development and healthcare. 

By Ngoc Anh