FDI flow to Ba Ria-Vung Tau province sees 12.6-fold rise
The southern province of Ba Ria-Vung Tau attracted over 1.64 billion USD in foreign direct investment (FDI) in the first five months of 2024, a 12.6-fold rise from the figure in the same period last year.
A worker at Izumi MFG Vietnam Co., Ltd. - a wholly Japanese invested firm - in Phu My 3 specialised industrial park, Ba Ria-Vung Tau province. (Photo: VNA)
Ba Ria-Vung Tau (VNA)😼 – The southern province of Ba Ria-Vung Tau attracted over 1.64 billion USD in foreign direct investment (FDI) in the first five months of 2024, a 12.6-fold rise from the figure in the same period last year.
The amount of FDI attracted in the period is equivalent to 82.1% of this year’s target.
According to the provincial Department of Planning and Investment, in the five months, the province attracted 18 new FDI projects with combined registered capital of nearly 1.52 billion USD, a 42-fold increase from the same period last year. Meanwhile, nine operating projects raised their investment capital by over 120 million USD, up 1.3 times.
So far, the province has attracted 475 FDI projects with total registered capital of more than 33.19 billion USD. They include 302 projects with total registered capital of nearly 15.5 billion USD in industrial parks and 173 projects with combined registered capital of nearly 17.7 billion USD outside the industrial parks.
The FDI flow into the province has increased sharply thanks to high-quality investment projects of multinational corporations from countries like the Republic of Korea, China, and Japan.
Notably, in the middle of last month, Tripod Vietnam Electronic Ltd. Co., a subsidiary of Tripob Group from Taiwan (China), officially signed a land lease contract at Sonadezi Chau Duc industrial park. Renting 18 ha, the company is planning to build a factory with a total investment of 250 million USD.
Once operational, the factory will produce electronic circuits and circuit boards with a capacity of 372,000 sq.m, equivalent to 1,800 tonnes yearly. The project is expected to create over 1,700 jobs for skilled workers in the province. Tripob's factory is the largest high-technology project in the Sonadezi industrial park so far./.
Ba Ria - Vung Tau is delighted to promote economic partnerships with Izumiotsu city of Japan’s Osaka prefecture and expand bilateral ties to other fields, an official of the southern Vietnamese province said on May 21.
Foreign and domestic investment in the southern province of Ba Ria - Vung Tau stood at almost 1.63 billion USD and over 25.93 trillion VND (1 billion USD) during the first four months of 2024, surging 7.2-fold from a year earlier.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
