New eight projects licensed in Ba Ria – Vung Tau
Chairman of the southern Ba Ria – Vung Tau provincial People’s Committee Nguyen Van Trinh presented investment licenses to four foreign-invested and four domestic projects during a local ceremony on February 6.
The projects, the first ones licensed in the province this year, were worth a total of US$311 million and VND3.588 trillion (US$156 million).
The province has so far recorded 301 foreign-invested projects worth nearly US$26.7 billion and 451 domestic ones valued at over VND245.5 trillion (US$10.67 billion).
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The total social investment neared VND41 trillion (US$1.78 billion) last year, up 6.8% annually. Upwards VND33.6 trillion (US$1.46 billion) of which was sourced from domestic and foreign enterprises.
At the event, President of Hyosung Corporation’s Chemical Division Choi Young-gyo signed a memorandum of understanding with the province, pledging to pour US$1.2 billion into a polypropylene manufacturing facility, a liquefied petroleum gas (LPG) warehouse, and a LPG and petrochemical port.
Nguyen Hong Linh, Secretary of the provincial Party Committee, vowed to take synchronous measures to reform administrative procedures and create a vibrant and responsible business climate.
The province will also hold regular dialogues with business owners and clear arising hindrances, he stated.
On the occasion, nine well-performing firms were honoured for their contributions to local development.
Last year, the provincial economy grew 5.6%, contributing in excess of VND32.5 trillion (US$1.41 billon) to the State budget and more than VND10 billion (US$434,000) to social welfare programmes, as well as generating over 22,000 jobs.
