Bà Rịa-Vũng Tàu promotes investment in four areas

The southern Bà Rịa-Vũng Tàu Province will focus its investment on hi-tech industry and agriculture, port logistics and high-quality tourism.

Hi-tech industrial projects will prioritise energy-saving and eco-friendly products of high added value and competitiveness, while those in the port logistics sector will include facilities in support of the Cái Mép – Thị Vải international terminal.

High-quality tourism projects will focus on building seaside resorts and developing ecological and spiritual tourism along with meetings, incentives, conferences and exhibitions (MICE).

During a local press conference yesterday, Vice-Chairman of the provincial People’s Committee Nguyễn Thành Long said the province had prepared a list of sectors eligible for investment incentives.

Bà Rịa-Vũng Tàu pledged all possible support to long-term business operations in the province, he said.

An investment promotion conference is slated for August 10 to introduce the province’s potential, incentives and infrastructure to diplomatic agencies, investment and trade promotion organisations, and overseas and domestic investors.

The province is a gateway to the southern key economic zone, thanks to its convenient location, abundant natural resources and a massive network of seaports.

In the first half of this year, the province registered seven foreign investment projects worth nearly US$350 million, raising the total number of FDI projects to 297, with a total value of more than $27.16 billion.

There were 10 domestic projects in the six-month period with a total registered capital of about VNĐ1 trillion ($45.45 million), increasing the total number of projects with domestic investment to 442, worth approximately VNĐ241 trillion ($10.95 million)

Source: VNS