Investment attraction in industrial parks (IPs) in the southern province of Ba Ria - Vung Tau showed signs of slowing down in the first quarter this year, reported the management board of the provincial IPs.
Cai Mep-Thi Vai port in Ba Ria-Vung Tau (Photo: VNA)
BaRia – Vung Tau (VNA) – Investment attraction in industrial parks (IPs)in the southern province of Ba Ria - Vung Tau showed signs of slowing down in the firstquarter this year, reported the management board of the provincial IPs.
Specifically,they drew four new projects worth 35.44 million USD which occupy a total areaof 10.57ha during the period, head of the board’s investment management officeNguyen Van Phu told a meeting chaired by Chairman of the provincial People’sCommittee Nguyen Van Tho on March 13.
Ofthem, three were foreign-invested ones and the remainder was from a domestic source.
Besides, threedomestically-invested and nine FDI projects registered an additional capital of6.6 trillion VND (286.9 million USD) and 66.15 million USD, respectively.
Asof March 13, there were 553 valid projects in local IPs, including 278 domesticand 25 foreign ones. The total leased land area was 3,389 hectares, reaching anoccupancy rate of 55.82% out of the total 15 IPs in the province and 65.92% outof the total IPs with completed infrastructure.
Theboard attributed that to political conflictsand increasing inflation in the world that hurt the global and domestic economy.Investors still face difficulties in their business operations, with brokensupply chains and falling revenue, leading to limited investment capital.
Speakingat the event, Tho said the province targets attracting investment selectively,with a focus on eco-friendly and hi-tech projects.
Healso asked the departments, agencies and localities to offer all possiblesupport to bu🌺sinesses and investors to step up infrastructure construction andsite clearance./.
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Cai Mep-Thi Vai port in Ba Ria-Vung Tau (Photo: VNA) 
