Ba Ria – Vung Tau’s 11-month FDI attraction posts annual increase of 93.8%
The southern province of Ba Ria-Vung Tau attracted nearly 1.38 billion USD in foreign direct investment (FDI) in the first 11 months of this year, an increase of 93.8% compared to the same period last year.
A wastewater treatment plant in Phu My 3 industrial park in Ba Ria-Vung Tau province. (Photo: VNA)
Ba Ria-Vung Tau (VNA)🅺 – The southern provinceof Ba Ria-Vung Tau attracted nearly 1.38 billion USD in foreign directinvestment (FDI) in the first 11 months of this year, an increase of 93.8%compared to the same period last year.
According to the provincial People’s Committee, in 11months, the province attracted 21 FDI projects worth nearly 867 million USD.Meanwhile, 30 projects raised their investment capital by a total of over 510million USD. By November 2023, Ba Ria-Vung Tau was home to 457 foreign-investedprojects with a total registered investment capital of more than 31.5 billionUSD. However, the inflow of domestic investment into the province dropped in the first 11 months of this year, with 15.86 trillion VND (653 million USD) registered, equal to just 68.8% of that of the same period last year. There were only 12new projects with a total registered capital of 1.4 trillion VND, equal to10.2% of the same period last year./.
While some southern localities have fulfilled their targets for FDI attraction, the clock is ticking for many others to complete their goals since there are only 1.5 months left to the end of 2023.
The southern province of Ba Ria-Vung Tau has attracted 20 foreign-invested projects worth 751 million USD since the beginning of this year, five projects higher and a 2.78-fold increase in capital compared to the same period last year.
As foreign direct investment (FDI) has an important role to play in the economic development of the southern province of Ba Ria – Vung Tau, the locality has paid due regard to attracting high-quality projects to create breakthrough for the local industry which is developing towards modernisation and sustainability.
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A wastewater treatment plant in Phu My 3 industrial park in Ba Ria-Vung Tau province. (Photo: VNA) 
