Ba Ria-Vung Tau approves projects

February 17, 2016 | 14:30
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The southern province of Ba Ria-Vung Tau yesterday granted investment licences to five new projects worth a combined total of about $160 million.
Nguyen Hong Linh , Secretary of the Provincial Party Committee grants investment licences to five new projects. - Photo VNA

Among the projects are a $115 million steel mill emissions processing facility, developed by Zincox Resources PLC from the United Kingdom in the Phu My 3 Industrial Zone (IZ), and an $18.3 million animal feed manufacturing plant, which is financed by the South Korean CJ Cheiljedang Corporation in the My Xuan B1-Tien Hung IZ.

Other projects include the IREX Energy JSC-invested renewable energy production complex, worth more than $17 million, and a $6 million warehousing and logistics project funded by the South Logistics JSC. Both projects will be constructed in the Phu My 1 IZ.

The last project is an expansion of the Duc Hanh Port in Tan Phuoc Commune, Tan Thanh District, which has a total investment of $3.6 million. It is financed by the Duc Hanh Construction Transport Corporation.

In his speech at the ceremony, Nguyen Hong Linh, Secretary of the Provincial Party Committee, said Ba Ria-Vung Tau is striving to attract projects using environment-friendly and energy-efficient technologies and equipment as well as other means to provide high-value added products.

The province is also calling on domestic and foreign investors to pump investment into other sectors such as transport infrastructure, logistics and tourism.

"Investment in hi-tech agriculture, trade, healthcare and education are also welcome," he said.

Local authorities would continue to speed up administrative reforms and improve the province's investment climate as move to better facilitate investors, Linh said, adding that the province would publish the list of projects calling for investment in the near future.

In 2015, the locality attracted a combined investment capital of $740 million from 32 domestic and foreign-invested projects.

As of last year, it was home to 295 foreign-invested projects valued at about $27 billion, and 434 domestically-funded ones worth more than $10.6 billion.

The province aims to lure more than $1 billion in investment this year.


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