Ba Ria-Vung Tau raises investment bar to US$14b
These include 109 domestic projects worth almost US$3.5 billion and 113 foreign-invested projects worth over US$10.5 billion, said the Head of the provincial IZ management board Le Minh Chau.
The official said the province expects to draw in 17 projects with a total capitalization of US$1 billion in 2010 alone.
Regarding investment in 2009, Mr Chau noted that despite the global financial crisis, the province’s IZs reaped encouraging results, raking in nearly US$1.4 billion, or US$300 million higher than the set yearly target.
He elaborated that the results were attributable to Ba Ria-Vung Tau’s favourable location in the southern key economic region, which produces up to 47.4 percent of the country’s industrial output and is the largest market for industrial products.
The official cited available deep seaports and natural gas supply system as the province’s big advantages in luring heavy industry and gas-consuming projects, including steel, fertilizer, mechanical manufacturing, electricity and construction materials.
Mr Chau said the provincial IZ management board will focus on removing investors’ obstacles and assist them in implementing projects.
