Ba Ria-Vung Tau province aims to attract hi-end investment projects (Photo: reatimes.vn) Ba Ria-Vung Tau province accounts for nearly 10% of Vietnam’s total FDI and ranks fourth among 63 provinces and cities in FDI attraction. On average, one FDI project in Ba Ria-Vung Tau is worth 86.7 million USD. Most come from major investment groups in Japan, the Republic of Korea, the US, Canada, Thailand, the Netherlands, and Singapore who invest in ports, logistics, plastic beads, and electronics. In recent years, Ba Ria-Vung Tau has also discarded ineffective projects to reserve land for new potential investors. It has discarded 142 projects – 38 in industrial zones, 53 housing projects in residential areas, and 51 others outside industrial zones. According to Nguyen Thanh Long, Vice Chairman of the provincial People’s Committee, the withdrawal of projects is in accordance with law. Provincial authorities have worked with investors to identify the cause and propose ways to address each case. “Under a program to deal with projects in disrepair, the province has issued specific regulations. The management of these projects has been conducted professionally and transparently. All related information has been published on online newspapers,” said Long. Seaports and port logistics are economic drivers… Read full this story
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