Ba Ria-Vung Tau: Investment inflow surges in Quarter 1
The southern province of Ba Ria-Vung Tau has licensed nearly 569 million USD registered for 11 new projects and 12 existing projects of both domestic and foreign investors since the beginning of 2019.
Workers produce electric cables at the Dongjin Global Co. Ltd in Dat Do 1 Industrial Park, Dat Do district of Ba Ria-Vung Tau province (Photo: VNA)
Ba Ria-Vung Tau (VNA) – The southern province of Ba Ria-Vung Tau haslicensed nearly 569 million USD registered for 11 new projects and 12 existingprojects of both domestic and foreign investors since the beginning of 2019.
This sum of capital is equivalent to 47.4 percent of the province’starget for the entire year– 1.2 billion USD, according to the local industrialzone authority.
In the same period, 189 million USD wasdisbursed for projects at local industrial parks in the first quarter, surgingby 210 percent year on year.
Head of the authority Nguyen Anh Triethighlighted the positive flow of investment into local industrial parks, notingthat most of the zones have completed their infrastructure, which will offermore choices for investors to locate their projects.
Industrial parks in Ba Ria-Vung Tau arecurrently home to 385 valid projects with total registered capital of more than19 billion USD. They include 188 projects of domestic investors with combinedcapital of nearly 97 trillion VND and 1.5 billion USD, and 197 foreign investedones worth almost 11.5 billion USD.
In the three months, businesses at these zonesalso posted strong growth. Their industrial production value reached 78.1trillion VND, while their revenue was estimated at 3.16 billion USD, up 31percent and 26 percent from a year earlier, respectively.
Enterprises in the province earned 791 millionUSD in exports and imported over 1.5 billion USD worth of goods during theperiod, respectively rising by 41 percent and 76 percent year on year.
The authority attributed the surge in imports tomany big factories’ high demand for equipment and input materials.-VNA
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Workers produce electric cables at the Dongjin Global Co. Ltd in Dat Do 1 Industrial Park, Dat Do district of Ba Ria-Vung Tau province (Photo: VNA) 
