Ba Ria - Vung Tau: 92 Investment Projects Call for Investment in 4 Economic Sectors
- 167
- Business
- 17:42 09/04/2024
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.”
![High-quality sea tourism is one of the key planning orientations that BRVT is aiming for High-quality sea tourism is one of the key planning orientations that BRVT is aiming for](https://media.doanhnghiephoinhap.vn/uploads/2024/04/09/bien-vung-tau-1712578815-1712658891.jpg)
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 Ba Ria-Vung Tau Province, made an assessment of the planning situation. Mr Nguyen Van Tho - Chairman of the People’s Committee of Ba Ria-Vung Tau Province, made an assessment of the planning situation.](https://media.doanhnghiephoinhap.vn/uploads/2024/04/09/screenshot-413-1712578986-1712658891.png)
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.
![The 13.8 ha Nghinh Phong project is one of the key projects of Vung Tau City The 13.8 ha Nghinh Phong project is one of the key projects of Vung Tau City](https://media.doanhnghiephoinhap.vn/uploads/2024/04/09/screenshot-412-1712578772-1712658891.png)
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.
Mr Pham Van Triem - Chairman of the Association of Small and Medium Enterprises of Ba Ria - Vung Tau Province: The master plan of BRVT province for the period 2021-2030, with a vision for 2050, has opened up new opportunities and new prospects for small and medium enterprises in Ba Ria - Vung Tau province.
![Mr Pham Van Triem - Chairman of the Association of Small and Medium Enterprises of Ba Ria - Vung Tau Province, representing over 20,000 small and medium enterprises, spoke at the Conference on Provincial Planning and Investment Promotion in 2024 Mr Pham Van Triem - Chairman of the Association of Small and Medium Enterprises of Ba Ria - Vung Tau Province, representing over 20,000 small and medium enterprises, spoke at the Conference on Provincial Planning and Investment Promotion in 2024](https://media.doanhnghiephoinhap.vn/uploads/2024/04/09/screenshot-417-1712582015-1712658891.png)
I find that this plan has opened up advantages and prospects for the province’s investment and business environment. This plan acts as a comprehensive overview design, a strategic vision showing the goal for BRVT to exploit and maximise its strengths, ensuring maximum harmony between economy, society and the environment, and completing the assigned tasks in Resolution No. 24 dated 7/10/2022 of the Politburo. It can be seen that the BRVT plan has been seriously researched, thoroughly assessing the objective potential and outstanding opportunities of the province, ensuring feasibility in the implementation process. At the same time, it focuses on removing bottlenecks, improving the effectiveness of investment promotion, and creating an investment attraction environment to promote rapid and sustainable economic development. The new planning picture defines many development spaces for the 4 economic pillars: seaports, tourism, industry and high-quality services. Thus, the implementation of enterprises will be proactive so that investors have sufficient legal grounds to focus on and develop their business in the right direction and effectively. I see a breakthrough in new opportunities and new values for the small and medium enterprise community in BRVT. We have high expectations for the implementation of this plan. According to the plan, the bottlenecks have been eliminated, and BRVT will have a rapid acceleration in all sectors, creating a strong transformation from economic structure to resources. This will open up breakthroughs and new opportunities for the BRVT business community to play their role and creativity in building Ba Ria-Vung Tau Province to develop day by day.
92 investment projects announced by BRVT at the investment promotion conference
21 projects to develop infrastructure for industrial parks, industrial clusters and projects to invest in the energy industry (outside industrial parks, industrial clusters); 6 projects to develop seaports and logistics; 23 projects to develop tourism; 36 projects to develop urban areas, housing and industries of services, trade, healthcare, education, science, technology, culture and sports, etc.; 4 projects to develop regional and national transport infrastructure; 2 projects to develop high-tech agriculture.
Thu Hien - Bich Lien
Related news
- Businesses need to increase adaptability to join the global supply chain
- Agricultural exports are forecast to reach nearly 60 billion USD in 2024
- General Secretary Nguyen Phu Trong: An outstanding politician, a great theorist
- Why is bank security very important?
- Export businesses face difficulties as sea freight rates rise
- Banks and challenges in funding green projects
- Strategies for innovation to adapt and seize opportunities by enterprises
- The Ho Chi Minh City Friendship Dialogue and the Ho Chi Minh City Economic Forum will take place in September 2024
- Why is it necessary to implement the direct electricity purchase mechanism soon?
- How are bank bond interest rates attractive to investors?
- Bamboo Airways aims to break even and become profitable by 2025
- Overcoming rising input costs and supply challenges in business
- The strong growth of air travel demand in Vietnam
- New proposal on petroleum business: Enterprises can have the freedom to set retail prices
- Electric vehicle market share in Vietnam: Development trends and challenges
- Farm School - What legal framework is needed for this new model?
- Digital transformation in the banking sector: The future direction of financial services
- EuroCham: European enterprises confident in Vietnam's long-term economic growth
- The journey from Nghe An fields to the TH True Milk brand
- Why support taxi businesses transitioning to electric vehicles?
Đọc thêm Business
Testing the "sandbox" model to diversify the Vietnamese stock market
The "sandbox" model to test new securities products will help select a number of securities companies and intermediary financial institutions with sufficient potential to pilot some structured products for the market.
Agricultural exports are forecast to reach nearly 60 billion USD in 2024
Vietnam's agricultural sector is a bright spot with increasing export potential. It is forecast that in 2024, Vietnam could reach an export level of nearly 60 billion USD, opening up great opportunities for sustainable development in this sector.
General Secretary Nguyen Phu Trong: An outstanding politician, a great theorist
General Secretary Nguyen Phu Trong's passing is a great loss for our Party and the people of Vietnam, leaving infinite regret among the people of the entire country and internationally.
Export businesses face difficulties as sea freight rates rise
Logistics costs have now increased by about 130% compared to the end of 2023. This reality has been pushing domestic export businesses into a state of freezing many export orders.
The Ho Chi Minh City Friendship Dialogue and the Ho Chi Minh City Economic Forum will take place in September 2024
The 2nd Ho Chi Minh City Friendship Dialogue (Ho Chi Minh City Friendship Dialogue – FD) in 2024, themed "Industrial transformation: Experiences and priorities in development cooperation", will take place from September 23-24, 2024.
Why is it necessary to implement the direct electricity purchase mechanism soon?
Implementing the direct electricity purchase mechanism brings many economic and environmental benefits and creates condition for the sustainable development of the electricity sector. Thus, this mechanism has become increasingly necessary and urgent.
How are bank bond interest rates attractive to investors?
Bank bonds are attracting investor interest due to their attractive interest rates and high level of security. This is a popular choice among investors in stable and safe financial products today.
Overcoming rising input costs and supply challenges in business
Currently, businesses are facing significant challenges as input costs rise and supply becomes difficult. The shortage of supply can impact business operations, profits, and the competitiveness of businesses.
The strong growth of air travel demand in Vietnam
Vietnam is becoming a top tourist destination in Southeast Asia, with the strong growth in air travel demand creating both opportunities and challenges for the industry.
Tourism and resort real estate begins to show more positive signals
Tourism and resort real estate, although affected by the pandemic, are showing many signs of recovery and many new positive opportunities in the coming period.