The People’s Committee of southern Ba Ria –Vung Tau Province on Friday licensed eight new investment projects worth over VND8.3 trillion (US$364 million).

These projects are related to solar energy, housing and hospital construction development, steel, ceramics and tourism.

In his speech at the licensing ceremony, Nguyen Hong Linh, Secretary of the provincial Party Committee, said the province appreciated each project and the work proves the great efforts made to attract investment.

However, the locality is determined to revoke the licences of slow-moving projects and transfer them to investors with sufficient financial capacity.

Meanwhile, chairman of the provincial People’s Committee, Nguyen Van Truong, said the province will attract investors selectively, with a focus on large projects, modern technology, high value-addition in the fields of industry, ports, port services and logistics, tourism, and high-tech agriculture.

In 2017, the province granted licences to 69 new projects. Of those, 29 were foreign-invested with total registered capital of $1.5 billion and the remainder, worth over VND29 trillion ($1.27 billion), were funded by domestic investors.

From now until 2020, the province hopes to attract $4 billion worth of foreign direct investment in 80 projects, VND100 trillion worth of domestic investment in 90 projects and VND15 trillion in 15 public-private partnership projects. — VNS