Ba Ria-Vung Tau earns more investment in Q1

Friday, Mar 29, 2019 14:58

My Xuan Industrial Zone in Ba Ria-Vung Tau Province. US$569 million of FDI has been poured into the province since the beginning of the year. — Photo

Ba Ria-Vung Tau has licensed nearly US$569 million in registered capital for 11 new projects and 12 existing projects by both domestic and foreign investors since the beginning of 2019.

The sum is equivalent to 47.4 per cent of the province’s target for the entire year – $1.2 billion – according to the local industrial zone authority.

In the same period, $189 million was disbursed for projects at local industrial parks, surging by 210 per cent year on year.

Head of the authority Nguyen Anh Triet highlighted the positive flow of investment into local industrial parks, noting that most of the zones have completed their infrastructure, providing more choices for investors.

Industrial parks in the province are currently home to 385 projects with total registered capital of more than $19 billion.

In the first quarter, businesses in these zones also posted strong growth. Their industrial production value reached VND78.1 trillion, while their revenue was estimated at $3.16 billion, up 31 per cent and 26 per cent from a year earlier, respectively.

Enterprises in the province earned $791 million in exports and imported more than $1.5 billion worth of goods during the period, representing year-on-year increases of 41 per cent and 76 per cent.

The authority attributed the surge in imports to big factories’ demand for equipment and input materials. — VNS

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