Ba Ria-Vung Tau charms investors for key projects

The southern province of Ba Ria-Vung Tau is home to an avalanche of projects centered on its local industrial zones and deep-water seaport system, leveraging its tremendous prospects for logistics and marine economy development.

The situation requires the province to pay close attention to investment projects for building intra- and inter-regional infrastructure systems, and a raft of social and entertainment developments to balance the ecosystem for sustainable growth.

The province is set to implement 37 major projects, including six public investment initiatives and 21 calling for investment capital.

Of these major undertakings, 10 are set to begin construction, start auctions, or hold bidding prior to June 2020. Of this group, there are three public investment projects, with one involving dredging Ben Dinh channel in Vung Tau city, and seven others requiring investment, such as the Go Gang urban area in Vung Tau and Cai Mep Ha Logistics Centre in Phu My town. Several plots of land in Vung Tau will also be auctioned off, with the proceeds to be used for investment development. The remaining ventures will be carried out subsequently. Some eminent internal infrastructure plans include Long Son-Cai Mep Road, Co Ong Airport on Con Dao Island, and Go Gang Airport in Vung Tau city.

Plans are also underway for construction of Bien Hoa-Vung Tau Expressway and Phuoc An Bridge in Phu My. The province is working towards holding an auction for a vast plot of land on Ben Dinh Island, an area which has been earmarked for an upscale green residential development. This will help realise the vision of expanding Vung Tau to the northwest.

In addition, the province has drawn up a wish-list of 21 schemes requiring financing, of which seven are slated for execution before June 2020. This is part of an effort to diversify capital sources and exploit the region’s potential to the fullest.

One of the most eagerly-awaited infrastructure projects in the province is the Bien Hoa-Vung Tau Expressway, which seeks to address the bottleneck which occurs when National Highway 51 becomes overloaded.

The Ministry of Transport has recently greenlit construction of the first stage of the expressway, the section linking Bien Hoa with Phu My.

Into next year, the province will work on submitting proposals to the prime minister for approval, and selecting investors through a bidding process.

The first component of the project is set for implementation from 2021-2025.

The province also aims to attract financiers to large-scale regional tourism initiatives such as the Xuyen Moc Safari zone, which was chosen to pilot the investor bidding process.

Local departments of Tourism and Planning and Investment will take charge of completing the necessary procedures and submitting the final results to Ba Ria-Vung Tau People’s Committee for approval.