Ba Ria-Vung Tau: An emerging investment Mecca

The southern province of Ba Ria-Vung Tau has emerged as an investment hotspot, attracting multi-million dollar investment projects in the first month of 2017.

ba ria-vung tau: an emerging investment mecca hinh 0
Ba Ria-Vung Tau has approved eight projects with total registered capital of more than $474 million
On the early days of the Lunar New Year, the provincial People’s Committee held a meeting with businesses and investors, where the leaders granted investment certificates and approved the investment proposals of eight domestic and foreign-invested projects worth more than $474 million in total registered capital. 

Nine businesses and investors were also praised by the provincial leaders for their active contributions to local development and philanthropic activities last year.

At the meeting, businesses also contributed more than VND3.69 billion ($168,000) to provincial funds for social well-being.

More than 150 investors, businesses, and foreign embassy representatives attended the meeting.

Provincial Party Secretary Nguyen Hong Linh recognised and lauded the contributions businesses and the investor community made to the province’s development.

Linh affirmed the province’s continued efforts to develop the local economy sustainably, attract investment on a selective basis, and effectively exploit its advantages in line with approved planning while ensuring no harm is done to the environment. The infrastructure system serving production-business activities and people’s lives will be further upgraded, striving to turn Ba Ria-Vung Tau into one of most livable cities with the best living standards in Vietnam in the near future.

Linh said that this success is due to the province giving priority to capable and experienced investors with technology and capital intensive projects that are environmentally friendly and use less land, labour, and energy. At the same time, the province deals swiftly and effectively with delayed and inefficient projects.

“The provincial leaders commit to the consistent implementation of new measures to bolster the efficiency of administrative procedure reforms, creating a more enabling business environment and acting as a companion to investors and businesses to help them address obstacles in a timely fashion. These all aim to turn Ba Ria-Vung Tau into a perfect destination for investors,” said Linh.

Chairman of the Ba Ria-Vung People’s Committee Nguyen Van Trinh called upon investors who received investment certificates during the meeting, to concentrate resources into ensuring their projects progress and comply with commitments. Concerns over the mistakes of past projects still loom, and adverse effects on the livelihood of the citizenry are to be avoided at all costs.

Trinh asked businesses and investors in the province to do their utmost to enhance production and trade efficiency; improve product quality, services, and competitiveness; strive to accomplish their business plans; and contribute to the province’s successful implementation of socio-economic development targets for 2017.


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