Ba Ria-Vung Tau Province Attracts US$125 Million Worth of Projects
Feb. 26 – Vietnam’s southern province of Ba Ria-Vung Tau has approved 15 projects worth US$125.03 million including five foreign direct investment projects amounting to US$924.9 million since the beginning of this year.
Some of the major projects involve the Dragon Sea-Vung Tau international tourism exhibition center, a project of the Skybridge Dragon Sea Ltd Co. and the Sao Bien international port to be built by the M/s Koon-Top Pave Joint Venture.
The center will feature a five-star hotel, luxury villas and serviced apartments along with a world-class international convention and exhibition center. The huge project is expected to finish in eight to ten years.
On the other hand, the new Sao Bien international port will be located in the My Xuan–Thi Vai port cluster on the Thi Vai River in Tan Thanh District with a capacity of one million twenty-foot-equivalent units of cargo and half a million tons of general cargo.
The influx of investment coming into the province during the beginning of the year already meets almost 50 percent of provincial 2010 investment targets since the local government wants to attract 39 projects this year including 20 FDI projects capitalized at US$2 billion.
Last year, the province was able to attract 260 FDI projects amounting to US$25.2 billion in addition to 322 local projects worth VND123 trillion.
Vietnam’s Industrial Zones (featuring Haiphong, Danang, Ba Ria-Vung Tau Province and Ho Chi Minh City)
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