Ba Ria - Vung Tau: 92 Investment Projects Call for Investment in 4 Economic Sectors

DNHN - As a province with a strategic location on the southern coast of Vietnam, Ba Ria-Vung Tau (BRVT) acts as the southern gateway to the sea, connecting the southeastern region with the world through a special port system.

The master plan for BRVT province for the period 2021-2030, with a vision to 2050, as a guiding principle for high-quality industries, seaports, tourism and services to develop.

Infrastructure is ready to welcome “eagles”

Infrastructure is considered a priority investment for the province when laying the foundation to help Ba Ria-Vung Tau achieve its vision of becoming a centre for tourism, trade and industry. The province has a convenient transportation system connecting it with other localities in the southeastern region and the country through a system of roads, waterways, airways and, shortly, a railway system. With many such advantages, the Minister of Planning and Investment, Mr Nguyen Chi Dung, stated: “Over the past 3 years, BRVT has always been in the top 3. In addition to the new plan with a new mindset and vision, BRVT will certainly have a higher role and mission for the entire southeastern region, southwestern region, central coastal region and Central Highlands, as a pioneer with the role of connecting, supporting and promoting development for the entire region.”

Therefore, the plan organised BRVT’s development space according to 4 functional areas, including 3 areas on land and 1 area of sea and islands: the industrial - service - urban - seaport functional area; the coastal tourism and urban tourism functional area; the agricultural and ecological balance functional area; and the sea and island space functional area.

Specifically, the industrial - service - urban - seaport functional area is planned as the Cai Mep - Thi Vai industrial-seaport dynamic economic axis, with the orientation of developing industrial seaports and developing comprehensive service urban areas serving industry and seaports, and multi-sector services. It is closely connected in terms of economic space with the industrial, urban, service and logistics belt along the 3rd and 4th beltways and the expressways of the southeastern region. The first to receive this are the industrial parks in Phu My, Chau Duc, Dat Do, Long Dien and Ba Ria, which are planned to invite investors.

The province has planned to develop 24 industrial parks with a total area of 16,052.66 ha, of which 13 industrial parks have invested in infrastructure and are ready to welcome investors, with an area of 7,242.66 ha; 8 industrial parks have been planned and will implement infrastructure investment from now until 2030 with a total area of 5,810 ha; and 3 industrial parks are being planned with a total area of 3,000 ha.

According to the People’s Committee of BRVT province, the land fund for industrial parks will continue to increase sharply until 2030. The newly planned industrial parks have an average area of over 800 ha, thus meeting the demand for large-scale production development and essential service development. The rental price here is also quite competitive, averaging 120 USD/m2/term. In addition, the stable supply of electricity, water and telecommunications infrastructure ensures enough for the industrial parks here.

Previously, BRVT was identified as an industrial province. In 2023, the contribution of the construction industry accounted for 66% of the total GRDP, creating jobs for 178,000 workers.

Developing advanced technology processing and manufacturing industries and supporting industries; petrochemical industry, downstream petrochemicals; clean energy. Developing large-scale industrial-service-urban complexes in the new city of Phu My, with a system of industrial parks, industrial-urban-service parks, and logistics centres capable of participating in and closely linking with the industrial, urban, service and logistics belt of the southeastern region.

Mr Nguyen Van Tho - Chairman of the People’s Committee of BRVT province shared: The province also determined to develop industry in the direction of transforming the internal structure of the industry, from relying on mining to new key industries. Restructuring according to each specialised field, focusing on developing industry in depth, strongly developing processing and manufacturing industries, associated with smart technology, focusing on the green industry.

Real estate tourism and urban areas - an attractive “piece of cake” for investors

Developing high-quality tourism is one of the development strategies of BRVT, so the province aims to build along the coastal route, bounded to the north by Highway 55 and DT328 road. Developing high-class urban and tourism services, improving social urban infrastructure, and modernising. “Outstanding projects in the tourism service sector will be the province’s top priorities in attracting investment to develop tourism in the coming period” - that is the view of the leaders of BRVT. Accordingly, the province will plan the “Vung Tau International Passenger Port” to welcome international standard 5-star cruise ships to attract tourists from cruise ships.

Vung Tau International Passenger Port is located in the adjacent area of the cable car terminal complex, with a port length of 400 m, accommodating ships with a tonnage of 225,000 GT. This will be the largest port in the southern region. Not only welcoming 5-star tourists to BRVT, it also contributes to taking tourists by sea to the Mekong Delta.

Another project mentioned in this plan is the high-quality entertainment, leisure and resort tourism service complex at Nghinh Phong Cape with 5-star service, located in the most favourable location in Vung Tau City, with an area of 13.8 ha, stretching along Thuy Van Street. This project is being developed as a modern tourism service complex, creating infrastructure for the development of Vung Tau City into a high-quality, international-class tourism centre.

The 3/2 urban service area of Vung Tau City has an area of 93.6 ha to build a modern complex urban area, including housing, services and tourism combined with various types of services, combined with neighbouring urban areas such as Long Son and Go Gang to become a high-quality tourism city focusing on commercial tourism products, official business, conferences and seminars (MICE).

A total of 59 projects were invited for investment, including 23 projects related to tourism, and services and 11 projects developing high-quality urban areas combined with services, which were introduced and invited for investment, including 3 urban - tourism projects in Con Dao district, 4 high-quality housing projects combined with services in Ba Ria City and Binh Chau, Xuyen Moc, etc. All of them, like a harmonious overview design, have opened up business opportunities for the BRVT business community as well as domestic and foreign investors.

Thu Hien - Bich Lien