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$161 million heads to Ba Ria Vung Tau

Released at: 10:54, 19/02/2016

$161 million heads to Ba Ria Vung Tau

Figure from just five projects licensed on February 16.

by Hoai An

The Ba Rai Vung Tau Provincial People’s Committee presented investment licenses to five investors on February 16 with total registered capital of nearly VND3.6 trillion ($161 million).

The investors included the Zincox Resources Company PLC (UK), which will develop a steel furnace dust treatment plant at the Phu My 3 Industrial Park worth $115 million, the CJ Cheiljedang Corporation (South Korea), with a $18.3 million feed plant at the My Xuan B1 - Tien Hung Industrial Park, and the IREX Energy Joint Stock Company's project at the Phu My 1 Industrial Park producing hi- tech equipment for renewable energy plants, with capital of VND385 billion ($17.2 million).

The two other projects are the construction of warehouse and logistics services by Soltrans with total capital of VND135 billion ($6 million) at the Phu My 1 Industrial Park and the expansion of Duc Hanh Port in Tan Thanh district by the Duc Thanh Traffic Construction JSC, with investment of VND80 billion ($3.6 million).

“We will work closely with investors and continue to handle any difficulties and obstacles they face, improve the investment environment, and create the most favorable conditions possible for their business activities,” said Mr. Nguyen Hong Linh, Secretary of the Provincial Party Committee. “In the near future the province will review and issue a full list of projects calling for investment.”

As at the end of 2015 Ba Ria Vung Tau had 295 foreign investment projects with total registered capital of nearly $27 billion and 434 domestic investment projects with total registered capital of more than VND240 trillion ($10.7 billion). Its foreign investment accounted for 10 per cent of the national total, putting it in second place behind Ho Chi Minh City. 

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