Oil-field province appealing to foreign investors

The southern oil-field province of Ba Ria-Vung Tau has unveiled a plan of establishing two more industrial parks (IP) to meet an increasing demand from investors, both domestic and international.

The provincial IP Management Board said 40 projects capitalised at over 4,642 million USD were licensed for operation in 12 IPs throughout the province last year.

Of these projects, 21 have involved foreign direct investments with a combined capital of 4.285 million USD and 19 others were domestic investment projects capitalized at some 357 million USD.

The figures represented a two-fold increase over the yearly plan in the number of newly-licensed projects and 15.47 times over 2007 in the volume of investments.

In addition, 30 operational projects have registered to increase their investments by almost 344 million USD.

In short, by the end of 2008, Ba Ria-Vung Tau province boasts 194 valid projects with a total registered capital of almost 11.45 billion USD, including 96 FDI projects capitalised at 8,352 million USD.

Last year saw three new IPs put into operation, expanding the provincial IP territory by more than 3,000 ha, said the management board.

VNA

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