(VOVWORLD) - Ba Ria-Vung Tau province will continue to pursue selective investment attraction as part of its socio-economic development targets and tasks from now until 2025. Amid the ongoing recovery from the pandemic, the province is drawing high-end investors, especially investors in seaports, port logistics, tourism, agriculture, and high-tech application.
 At Ba Ria-Vung Tau province's single-window section (Photo: VTV) |
In the past 9 months, despite the pandemic, Ba Ria-Vung Tau province has licensed 39 new projects, including 11 FDI projects and 28 domestic projects, worth more than 400 million USD, 150% of the 2021 plan and 52% more than last year, thanks to the improved local business investment environment and eased regulations.
Pivoting from attracting investment at all costs, Ba Ria-Vung Tau has begun to prioritize quality high-tech investment projects that are effective and sustainable. The province has pledged to promptly remove obstacles so projects can roll out smoothly.
Nguyen Cong Vinh, Director of the provincial Department of Planning and Investment, said, “All administrative procedures relating to investment licenses and business registration have been publicized at the province's single-window section and the Department's e-portal. A list of investment projects and administrative procedures under its authority has been promulgated to make the Department and investors easily resolve any difficulties during the process.”
Ba Ria-Vung Tau has assigned the provincial Industrial Park Authority to be in charge of approving investment policies for several types of projects in industrial parks.
According to Vo Minh Tung, Deputy Director of the Ba Ria-Vung Tau Industrial Park Authority, that decision represents the province’s administrative reform to create better conditions for investors.
“This helps investors and businesses save time and money, creates satisfaction for investors, and retains investors with advanced technology and financial potential to increase investment capital in industrial zones,” said Tung.
The selective attraction of investment projects has eliminated projects with outdated technology, or that harm the environment, or that consume lots of raw materials.
The move has helped Ba Ria-Vung Tau create an ecosystem for high-tech enterprises with financial potential, prestige, trustworthiness, and boldness in investing.
 Seaports and port logistics services will be turned into a spearhead economic sector to support the development of other industries, trade, and services in Ba Ria-Vung Tau. (Photo: congthuong.vn) |
To date, all enterprises in industrial parks and industrial clusters have built automatic wastewater treatment and monitoring systems that use advanced technologies to treat waste and minimize environmental pollution.
Nguyen Anh Triet, Director of the Industrial Park Authority, said the local administration has created an environment in which businesses feel it’s safe to invest.
“We’ve adjusted the planning of industrial parks to attract high-quality projects, strengthened investment promotion, and posted up-to-date information on the websites of the agency and other involved companies. We have worked closely with enterprises to promptly resolve their problems and win their trust,” said Triet.
In the next 5 years, the province intends to become "a strong locality in industry, seaports, tourism, and high-tech agriculture" with a focus on selectively attracting investment and less labor-intensive and more environment-friendly projects which involve modern technologies and high added value.
The province plans to develop seaports and port logistics services into a spearhead economic sector to support the development of other industries, trade, and services.
To that end, the provincial People's Committee will continue to improve its management capacity and create an optimal environment for businesses and investors.