BA RIA - VUNG TAU AMONG TOP LOCALITIES IN FDI ATTRACTION DURING 2016-2020

The southern province of Ba Ria - Vung Tau was one of the leading localities in attracting investment during 2016-2020, Director of the provincial Department of Planning and Investment Nguyen Cong Vinh has said.

Ba Ria - Vung Tau - The southern province of Ba Ria - Vung Tau was one of the leading localities in attracting investment during 2016-2020, Director of the provincial Department of Planning and Investment Nguyen Cong Vinh has said.

The average registered capital of each State-owned enterprise in the province stood at 250 billion VND (10.8 million USD), while the figures for non-State and foreign-invested enterprises were nearly 9.5 billion VND (410,445 USD) and 103 million USD, respectively.

Over the past five years, the province granted new licences to 163 foreign-invested and 216 domestic projects with registered capital of 3.2 billion USD and 80 trillion VND, respectively, ranking it fourth out of Vietnam’s 63 cities and provinces in terms of FDI attraction.

Additional capital also went to 96 FDI and 51 domestic projects worth 2.57 billion USD and 14.7 trillion VND, respectively.

The province is now home to 415 FDI projects from 30 countries and territories with registered capital of 29.5 billion USD, as well as 605 domestic projects worth more than 307 trillion VND.

Some 7,800 new enterprises were established in the province over the last five years, with total registered capital of over 74 trillion VND, up more than 44 percent and nearly 86 percent, respectively, compared to 2011-2015. There were also 85 new cooperatives, or 27 percent higher than planned.

Total social investment capital topped 233 trillion VND during the period, over 17.6 percent of which was from the State budget and the remainder from businesses.

Source: VIR