The licensed projects, including 5 foreign investment projects, focus on the fields of chemicals, industry, electronics, pharmaceuticals, urban areas, industry, and tourism, among others.

The investment licenses were granted at a ceremony held by the provincial administration on March 30 to announce its development planning for 2025-2030 with a vision to 2050 recently approved by the Prime Minister.

The announcement of the provincial development planning gives Ba Ria-Vung Tau the chance to create development models and remove bottlenecks, said Pham Viet Thanh, secretary of the provincial Party Committee.

According to the official, with intensive investment allocated, the Southeastern region in general and Ba Ria – Vung Tau in particular will fully meet the conditions for developing industries, seaports, logistics, tourism, urban areas, and high quality services.

The province is ready to listen to, and take the success of businesses and investors as a measure of the local government’s performance, stressed Thanh.

Speaking at the ceremony, Deputy Prime Minister Tran Hong Ha proposed that Ba Ria - Vung Tau maintain its leading position in green transformation, create new breakthroughs, and develop a roadmap for greening economic sectors.

Located in the southern key economic region, Ba Ria-Vung Tau is one of the localities that contribute greatly to national GDP and state budget revenue.

Last year saw the local economy grow by 5.75%, with average income per capita reaching US$8,078, nearly double the national average.

Under the recently approved planning, by 2050, Ba Ria - Vung Tau will be developed into a marine economic center of Vietnam and a maritime service center of Southeast Asia.

Source: VOV

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