Foreign, domestic investment in Bà Rịa-Vũng Tàu rises sharply

Monday, May 06, 2024 14:43

Workers at the factory of the Việt Ân International Co. Ltd in Phú Mỹ Town, Bà Rịa-Vũng Tàu Province. — VNA/VNS Photo

Foreign and domestic investment in the southern province of Bà Rịa-Vũng Tàu stood at almost US$1.63 billion and over VNĐ25.93 trillion ($1 billion) during the first four months of 2024, surging 7.2-fold from a year earlier.

The foreign direct investment (FDI) attracted during the period was equivalent to 81.4 per cent of this year’s target, Trần Thuy Cẩm Lê, Deputy Director of the provincial Department of Planning and Investment, told a meeting reviewing the April performance.

During January-April, nearly $1.63 billion was poured into 24 FDI projects, both new and existing ones. The value shot up 16-fold year-on-year.

With the latest investments, Bà Rịa-Vũng Tàu is currently home to 474 FDI projects worth nearly $33.18 billion, according to the official.

Meanwhile, 11 new and existing domestic projects were injected with more than VNĐ25.93 trillion during the four months, surging 3.9-fold year on year.

As a result, there are now 692 domestic investment projects with total registered capital topping VNĐ398 trillion, statistics show.

The province, which is part of the southern key economic region, also recorded fast growth in many other economic figures over the last four months.

In particular, total retail sales of goods increased 12.19 per cent year-on-year; revenue from transport, warehouse and transport supporting services 8.16 per cent; cargo throughput at local ports 33.91 per cent; revenue from accommodation services 16.79 per cent; and earnings from travel services 42.62 per cent.

Almost VNĐ32.37 trillion was collected for the state budget during the reviewed period, equivalent to 36.53 per cent of this year’s target and rising 8.27 per cent from a year earlier. Foreign invested firms contributed the most, about VNĐ6.18 trillion, according to the official. — VNS

Comments (0)