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Saturday, June 22, 2024

Fresh investment approvals soar in Ba Ria-Vung Tau

The Saigon Times

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HCMC – New investment approvals in the southern province of Ba Ria-Vung Tau in the first two months of this year shot up by 2.4 times over the same period last year to VND20.1 trillion, local media reported.

In February alone, the province approved three new foreign-investment projects valued at nearly US$10 million, and three operational foreign-invested projects increased their investment capital pledges by around US$25.8 million.

Foreign direct investment (FDI) approvals in January-February amounted to US$392 million at nine projects, a 5.4-fold increase against the same period last year. This surge helped the province achieve 19.6% of its 2024 foreign investment attraction target.

On the domestic front, Ba Ria-Vung Tau approved three new domestic projects worth a combined VND6 trillion in February, bringing to VND10.7 trillion the total in the first two months of the year. This achievement helped the province realize half of its domestic investment attraction target.

The province is now home to 462 foreign-invested projects, with total registered capital of US$31.9 billion. There are 692 domestic investment projects capitalized at over VND383.7 trillion operational in the province.

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