Ba Ria- Vung Tau Province plans to establish three more industrial parks

The People’s Committee in the Southern Province of Ba Ria – Vung Tau has announced that it is stepping up the completion of paperwork to establish three industrial parks in the province for 2021-2025 period.
In its report of industrial park development orientation, Ba Ria- Vung Tau authority said that in line with the master plan for developing industrial parks in Vietnam approved by the Government, the zones comprise Phu My Industrial Park covering an area of 650 hectares, Dat Do Industrial Park spanning 1,000 hectares and Xuyen Moc Industrial Park covering 1,143 hectares.
The province has had 17 existing industrial parks spanning 9,000 hectares with total investment of over VND17,197 billion (US$743,668,646). The province has been investing infrastructure for 13 industrial parks while two other parks are completing investment formalities and two facilities are waiting for the Prime Minister’s decision.
Some 470 projects have been approved to operate in industrial parks including 222 locally-owned projects and 248 foreign-invested ones with a total capital of VND102,811 billion (US$ 4,421,958,181) and US$13.699 billion respectively.
So far, 28 nations and territories have poured investment in industrial parks in the province. Japan is the biggest investor followed by South Korea and Singapore.
It is forecast that foreign investors will spend more on leasing land in industrial parks; therefore, the province planned to give nearly 2,800 hectares for the development of such parks.

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