FDI flow to Ba Ria-Vung Tau province sees 12.6-fold rise

The southern province of Ba Ria-Vung Tau attracted over 1.64 billion USD in foreign direct investment (FDI) in the first five months of 2024, a 12.6-fold rise from the figure in the same period last year.
A worker at Izumi MFG Vietnam Co., Ltd. - a wholly Japanese invested firm - in Phu My 3 specialised industrial park, Ba Ria-Vung Tau province. (Photo: VNA)

A worker at Izumi MFG Vietnam Co., Ltd. - a wholly Japanese invested firm - in Phu My 3 specialised industrial park, Ba Ria-Vung Tau province. (Photo: VNA)

The southern province of Ba Ria-Vung Tau attracted over 1.64 billion USD in foreign direct investment (FDI) in the first five months of 2024, a 12.6-fold rise from the figure in the same period last year.

The amount of FDI attracted in the period is equivalent to 82.1% of this year’s target.

According to the provincial Department of Planning and Investment, in the five months, the province attracted 18 new FDI projects with combined registered capital of nearly 1.52 billion USD, a 42-fold increase from the same period last year. Meanwhile, nine operating projects raised their investment capital by over 120 million USD, up 1.3 times.

So far, the province has attracted 475 FDI projects with total registered capital of more than 33.19 billion USD. They include 302 projects with total registered capital of nearly 15.5 billion USD in industrial parks and 173 projects with combined registered capital of nearly 17.7 billion USD outside the industrial parks.

The FDI flow into the province has increased sharply thanks to high-quality investment projects of multinational corporations from countries like the Republic of Korea, China, and Japan.

Notably, in the middle of last month, Tripod Vietnam Electronic Ltd. Co., a subsidiary of Tripob Group from Taiwan (China), officially signed a land lease contract at Sonadezi Chau Duc industrial park. Renting 18 ha, the company is planning to build a factory with a total investment of 250 million USD.

Once operational, the factory will produce electronic circuits and circuit boards with a capacity of 372,000 sq.m, equivalent to 1,800 tonnes yearly. The project is expected to create over 1,700 jobs for skilled workers in the province. Tripob's factory is the largest high-technology project in the Sonadezi industrial park so far./.

VNA

Source: VNS
en.vietnamplus.vn

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