Ba Ria-Vung Tau among top localities in FDI attraction during 2016-20

Wednesday, Sep 02, 2020 18:22

Cai Mep sea port in Ba Ria-Vung Tau Province. — Photo VNA

The southern province of Ba Ria - Vung Tau was one of the leading localities in attracting investment during the past five years, director of the provincial Department of Planning and Investment Nguyen Cong Vinh has said.

The average registered capital of each State-owned enterprise in the province stood at VND250 billion (US$10.8 million), while the figures for non-State and foreign-invested enterprises were nearly VND9.5 billion ($410,445) and $103 million, respectively.

Over the past five years, the province granted new licences to 163 foreign-invested and 216 domestic projects with registered capital of $3.2 billion and over $3.43 billion, respectively, ranking it fourth out of Viet Nam’s 63 cities and provinces in terms of foreign direct investment.

Additional capital also went to 96 foreign-invested projects and 51 domestic projects worth $2.57 billion and $631 million, respectively.

The province is now home to 415 foreign-invested projects from 30 countries and territories with registered capital of $29.5 billion, as well as 605 domestic projects worth more than $13.17 billion.

Some 7,800 new enterprises were established in the province since 2016, with total registered capital of more than VND74 trillion, up more than 44 per cent and nearly 86 per cent, respectively, compared to 2011-15. There were also 85 new cooperatives, or 27 per cent higher than planned.

Total social investment capital topped VND233 trillion during the period, over 17.6 per cent of which was from the State budget and the remainder from businesses. — VNS

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