Chairman of the southern Ba Ria – Vung Tau provincial People’s Committee Nguyen Van Trinh presented investment licenses to four foreign-invested and four domestic projects during a ceremony on Feb. 6
Ba Ria – Vung Tau (VNA) –Chairman of the southern Ba Ria – Vung Tau provincial People’s Committee NguyenVan Trinh presented investment licenses to four foreign-invested and four domesticprojects during a local ceremony on February 6.
The projects, the first ones licensedin the province this year, were worth a total of 311 million USD and 3.588 trillionVND (156 million USD).
The province has so far recorded 301foreign-invested projects worth nearly 26.7 billion USD and 451 domestic onesvalued at over 245.5 trillion VND (10.67 billion USD).
The total social investment neared 41trillion VND (1.78 billion USD) last year, up 6.8 percent annually. Upwards 33.6trillion VND (1.46 billion USD) of which was sourced from domestic and foreignenterprises.
At the event, President of HyosungCorporation’s Chemical Division Choi Young-gyo signed a memorandum ofunderstanding with the province, pledging to pour 1.2 billion USD into a polypropylenemanufacturing facility, a liquefied petroleum gas (LPG) warehouse, and a LPGand petrochemical port.
Nguyen Hong Linh, Secretary of theprovincial Party Committee, vowed to take synchronous measures to reformadministrative procedures and create a vibrant and responsible business climate.
The province will also hold regulardialogues with business owners and clear arising hindrances, he stated.
On the occasion, nine well-performingfirms were honoured for their contributions to local development.
Last year, the provincial economygrew 5.6 percent, contributing in excess of 32.5 trillion VND (1.41 billon USD)to the State budget and more than 10 billion VND (434,000 USD) to socialwelfare programmes, as well as generating over 22,000 jobs.-VNA
Hyosung Corporation of the Republic of Korea has proposed to build polypropylene (PP) factories and a liquid petroleum gas (LPG) storage facility in southern Ba Ria-Vung Tau province.
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Illustrative image (Source: VNA) 
