Ba Ria - Vung Tau (VNA) – New industrial projects are expected to contribute about 5 trillion VND (197 million USD) to the industrial production value of the sout🃏hern province of Ba Ria - Vung Tau in 2025, according to the provincial Department of Industry and Trade.
The department said that 21 industrial projects are set to start operations this year.
They include several large projects such as a carbon fiber factory worth 540 million USD of the Republic of Korea (RoK)’sꦍ Hyosung Group, the Cai Mep - Phu My pipeline and the Phu My gas distribution station worth nearly 60 million USD of the Hai Linh Co. Ltd, and a Pocari factory invested with nearly 100 million USD by the Otsuka Nutraceutical Vietnam Co. Ltd.
Last year, the industrial production value in Ba Ria - Vung Tau rose by 12.91% compared to 2023, much higher than the target of 10.11%. This result was attributed to the stable operation of most large projects operating there for many years, along with new projects becoming functional.
Notably, the Phu My 3 Specialised Industrial Zone in Phu My township has attracted 46 investors with a registered capital exceeding 4 billion USD. They include multinational corporations boasting large capital and modern technology from Japan, the RoK, Europe, the US, Taiwan (China), China, and several other countries.
In 2024 alone, thi🌠s industrial zone drew nine investors from Japan, China, Hong Kong (China), and Vietnam who poured a total of over 21 trillion VND in inveꦫstment.
The province issued a scheme to shorten the time for processing 800 administrative procedures by 35 - 40%, and boost the supply of online public services.
In addition, it is accelerati🎶ng the development of technical infrastruc💖ture, especially transport facilities, to enhance its connectivity with other localities in Vietnam, thus promoting its attractiveness to major businesses and investors, Linh added./.