Foreign investment surge in Ba Ria-Vung Tau

09:54 | 06/09/2018 Economy

(VEN) - The southeastern coastal province of Ba Ria - Vung Tau has attracted US$2.15 billion of foreign direct investment (FDI) since the beginning of this year, up 30.6 per cent over the same period last year.

foreign investment surge in ba ria vung tau
Promoting high-tech agriculture is one of the province’s major tasks

The province ranks third in FDI attraction in the country.

To date, FDI enterprises have invested in 360 projects in the province with a total registered capital of more than US$28 billion, according to a report from the provincial Department of Planning and Investment.

Under the investment promotion plan for 2018 approved by the People’s Committee, the province continues to promote key areas - industries, tourism, seaport logistics and high-tech agriculture. Priority is given to logistics services, support industries and manufacturing products for export.

Ba Ria-Vung Tau investment promotion plan reflects the province’s socioeconomic development orientation, with special attention to improving the investment environment in order to increase the provincial competitiveness index.

The province is also increasing public information about its investment promotion policies and tightening linkages with business associations, foreign organizations and potential investors.

Ba Ria-Vung Tau is organizing conferences and workshops gathering businesses and investors, as well as meeting with foreign associations and organizations and investors. The province will also provide training to improve skills of investment promotion officials.

Ba Ria-Vung Tau will send an investment promotion delegation to Japan to seek cooperation opportunities in the fields of industry and environment, and learn about Japan’s medical waste treatment technologies. The province will also organize an investment promotion workshop in the Republic of Korea to attract investment in industry and logistics.

My Phung