Ba Ria – Vung Tau licenses, approves 9 investment projects

Friday, Feb 15, 2019 08:18

Ba Ria – Vung Tau leaders issue licences to executives of investing companies. – VNS Photo

The southern province of Ba Ria – Vung Tau on Thursday issued licences to seven projects and greenlighted two others with the nine having a total investment of over VND12.5 trillion (US$548 million).

They include some large projects like an LNG plant to be put up by PVGAZPROM NGV at a cost of nearly $13 million and a capacity of 20 million cubic metres a day.

The Da Bac 4 Solar Power Plant by Dong A Chau Duc Joint Stock Company will cost nearly VND1.1 trillion ($48 million).

The others are the Vung Tau – Con Dao high-speed boat service, a plant to manufacture cement additives, construction of housing for steel workers, expansion of the Hung Thai Inland Container Depot, and a coffee plant.

The two projects approved were a high-tech industrial - urban - service zone and expansion of the B1 Conac Industrial Zone.

The licences and approvals were given at the Enterprises and Investors Meeting organised on Thursday to bring together over 200 domestic and foreign investors in the province.

Authorities also showcased the province’s potential to the investors but said they would remain selective in issuing licences.

Provincial Party Committee Secretary Nguyen Hong Linh said, “Ba Ria – Vung Tau will continue to select experienced investors with strong enough capacity to execute large projects.”

The province would continue to focus on the five economic pillars of manufacturing, ports, logistics, tourism, and high-tech agriculture, he said, promising short shrift to investors of tardy projects to make way for new ones.

Last year 103 new projects were licensed, 44 of them foreign-invested, putting the province second in the country’s list of foreign investment.

Another 29 projects, 18 of foreign, undertook expansion.

This is an important year for Ba Ria – Vung Tau Province in fulfilling its 2016-20 five-year plan.

Its authorities have assured investors they would resolve all their difficulties. – VNS

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