Vietnam Southern Province Attracts US$1.7 Bln Investment
The southern province of Ba Ria -Vung Tau has pulled in US$1.7 billion from five domestic investment projects and eight foreign direct investment (FDI) projects since early this year, the Vietnam News Agency said on May 16.
Le Kim Huong, director of the provincial Planning and Investment Department, said the U.S.-based Good Choice Ltd. Co. has become the biggest foreign investor in the province so far this year with a US$1.3-billion entertainment complex.
Following was a US$120-million complex of five-star hotel and hi-end villas by the Hong Kong-based San Shing Ltd. Co.
Huong added that the province will pour over VND1 trillion into the infrastructure development of industrial parks (IP) and VND20 billion for land clearance this year.
Ba Ria – Vung Tau is now home to 12 IPs, covering 3,200 hectares. Fifty percent of them have been occupied with a rate of 80-100 per cent.
According to the official, the province’s total FDI capital is expected to reach US$16 billion by late this year. (VNA)
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