Of the licensed projects, two are supported by foreign direct investment (FDI) and eight by domestic investment.

In addition, the province will license three FDI projects worth US$2.4 million and two domestically-invested projects capitalized at VND57.7 billion in the near future.

The Vice Chairman of the Ba Ria-Vung Tau provincial People’s Committee, Ho Van Nien, says the province aims to attract 20 foreign-invested projects with a total investment of US$1.978 billion and 19 domestically-invested projects worth VND12,160 billion. With these newly-licensed projects, Ba Ria-Vung Tau has completed 50 percent of its target. This is a good start for the year and is a positive sign for the coming years, he adds.

At the end of 2009, Ba Ria-Vung Tau province had 260 foreign-invested projects with a total registered capital of US$25.2 billion and 322 domestically-invested projects worth VND123,000 billion.