Ba Ria – Vung Tau industrial parks await FDI post-pandemic
Industrial parks in the southern coastal province of Ba Ria – Vung Tau are making preparations to attract foreign investments that are expected to surge after the COVID-19 pandemic passes.
Workers at Dongjin Global Company in Dat Do 1 Industrial Park in Ba Ria- Vung Tau Province. (Photo: VNA)
HCMCity (VNS/VNA) - Industrial parks in the southern coastal province ofBa Ria – Vung Tau are making preparations to attract foreign investments thatare expected to surge after the COVID-19 pandemic passes.
The 500ha Dat Do 1 Industrial Park in Dat Do district wants FDI to accountfor 70 percent of all investment and domestic projects for only 30 percent,with priority given to supporting industries and hi-tech projects.
This year it attracted six local investors but no foreign investment.
Due to the ongoing COVID-19 pandemic, foreign investment had been severelyimpacted, Nguyen Khac Thanh, general director of Tin Nghia – Phuong DongIndustrial Park JSC, the developer of Dat Do 1 Industrial Park, said.
Many foreign investors have rented land in the park but delayed theirprojects since it was impossible for them to enter the country due to thetravel restrictions and border closure, he said.
But his company had maintained contact with global customers and resorted toonline marketing to introduce the opportunities and the procedures they have tocomplete to invest in the park, he said.
As a result, it managed to sign memorandums of understanding and tookdeposits for leases from 11 foreign investors, he revealed.
The park had helped foreign investors with investment procedures as part ofefforts to attract them, he added.
The 999ha Phu My 3 Specialized Industrial Park in the province’s Phu My townhas not attracted a single foreign project for more than a year due to thepandemic.
It has signed lease agreements with 10 foreign customers thanks to webinars andonline marketing.
Nguyen Anh Triet, head of the provincial Industrial Park Authority, said therewere incentives for industrial parks to attract investment, and administrativeand land clearance procedures were being streamlined to develop industrialinfrastructure.
Nearly 50 potential investors had signed MoUs and registered to lease morethan 1,000 hectares of industrial land, he said.
The province planned to build eight industrial zones with more than 8,000ha by2030 to meet the huge demand, he added./.
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Workers at Dongjin Global Company in Dat Do 1 Industrial Park in Ba Ria- Vung Tau Province. (Photo: VNA) 
