As of the end of October, Ba Ria – Vung Tau Province hosts a total of 490 foreign direct investment (FDI) projects with registered capital exceeding $33.3 billion. In the first ten months of the year, local authorities approved 34 new FDI projects with total registered capital reaching $1.6 billion.
According to data from the Provincial Department of Planning and Investment, this project count represents a 2.24 times increase over the number of projects approved in the same period last year.
Additionally, the department approved capital adjustments for 50 existing FDI projects.
As of the end of October, Ba Ria – Vung Tau Province has 490 active FDI projects, with total registered capital surpassing $33.3 billion. Among these, 315 projects (with over $15.7 billion in registered capital) are located within industrial zones, while 174 projects (nearly $17.7 billion in registered capital) are located outside industrial zones.
One of the province’s primary advantages is its role as a major port hub in the southeastern region, possessing deep-water ports capable of accommodating container ships weighing up to 200,000 tons. Additionally, Ba Ria – Vung Tau Province is strategically situated along global shipping routes connecting Vietnam with Europe and the Americas.
The province also boasts 93% of the country’s oil reserves and 16% of its natural gas reserves, providing significant opportunities for the petrochemical industry’s development.
Le Ngoc Linh, Director of the Provincial Department of Planning and Investment, stated, “We have organized multiple trade meetings to attract investment.”
“We are also committed to developing regional transportation infrastructure projects, such as the Bien Hoa – Vung Tau Expressway, Phu An Bridge, coastal roads, and roads connecting the port systems to enhance inter-provincial and regional connectivity.”
It is expected that the province will attract approximately $2 billion in FDI this year and nearly $1.5 billion next year. By the end of next year, Ba Ria – Vung Tau Province’s FDI project count is projected to reach about 517, with total investment capital surpassing $34.8 billion.
