Foreign, domestic investment in Ba Ria - Vung Tau rises sharply
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.
Workers at the factory of the Viet An International Co. Ltd in Phu My town, Ba Ria - Vung Tau province (Photo: VNA)
Ba Ria - Vung Tau (VNA)😼 – 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 foreign direct investment (FDI) attracted during the period is equivalent to 81.4% of this year’s target, Tran Thuy Cam Le, Deputy Director of the provincial Department of Planning and Investment, told a meeting reviewing the April performance.
During January - April, nearly 1.63 billion USD was poured into 24 FDI projects, both new and existing ones. The value shot up 16-fold year on year.
With the latest investments, Ba Ria - Vung Tau is currently home to 474 FDI projects worth nearly 33.18 billion USD.
Meanwhile, 11 new and existing domestic projects were injected with more than 25.93 trillion VND during the four months, surging 3.9-fold year on year.
As a result, there are now 692 domestic investment projects with total registered capital topping 398 trillion VND, statistics show.
Le said the province, which is part of the southern key economic region, also recorded fast growth in many other economic figures over the last four months.
In particular, total retail sales of goods increased 12.19% year on year; revenue from transport, warehouse and transport supporting services 8.16%; cargo throughput at local ports 33.91%; revenue from accommodation services 16.79%; and earnings from travel services 42.62%.
Besides, almost 32.37 trillion VND was collected for the state budget during the reviewed period, equivalent to 36.53% of this year’s target and rising 8.27% from a year earlier. Foreign invested firms contributed the most, about 6.18 trillion VND, according to the official./.
The total foreign direct investment (FDI) disbursed in Vietnam in the first four months of this year is estimated to reach 6.28 billion USD, up 7.4% year on year, the highest four-month amount in the past five years, reported the General Statistics Office (GSO).
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Vietnam has been applying itself to making institutional, infrastructure, and manpower improvements in efforts to attract more foreign investment, especially in such big industries as electronics and semiconductor, said Deputy Minister of Planning and Investment Do Thanh Trung.
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.
