Ba Ria-Vung Tau looks ahead to high-quality funding future

Ba Ria-Vung Tau looks ahead to high-quality funding future

Amid growing opportunities for regional integration with Ho Chi Minh City and Binh Duong, Ba Ria-Vung Tau is emerging as a premier investment destination for both domestic and international investors.

Vung Tau Urban Development and Investment, a subsidiary of Sun Group, on May 30 was granted an investment licence for a new urban area in Vung Tau city, with a total investment of approximately $1.4 billion.

Spanning nearly 60 hectares in Vung Tau City, the investor aims to develop a smart, modern urban complex combining commercial, ecological, and tourism features aligned with the province’s overall planning orientation.

At the 2025 Investment Promotion Conference held the same day in Xuyen Moc district, the provincial People’s Committee approved over 50 projects, including 26 from foreign investors.

Among the notable ventures, Long Son Petrochemicals added $400 million into its Southern Vietnam petrochemical complex; Chimelong Nylon Fiber registered $120 million for its nylon fiber facility in the Dat Do 1 Industrial Park (IP); Coretronic Technology added $60 million to its scheme in the Phu My 3 Specialised IP, and the Broad-Ocean Motor injected an additional $58 million into its steel and sheet metal manufacturing plant in the Chau Duc IP.

According to the People’s Committee, in the first five months of this year, the province approved and adjusted investment capital for 73 projects, with a total capital nearing $4 billion. This includes 36 domestic initiatives, with newly registered and additional capital totalling nearly $2.75 billion.

People’s Committee Chairman Nguyen Van Tho noted that despite incomplete and inconsistent regional transport connectivity in recent years, numerous projects across diverse sectors have been implemented and put into operation in the province due to the strong commitment of investors.

“Large-scale projects have shaped prestigious brands recognised nationally and known internationally. Over its 30-year history, Ba Ria-Vung Tau has attracted more than 1,200 ventures worth $54 billion. Of those, more than 500 foreign-invested ventures from 30 countries and territories, with a total capital of more than $35 billion,” Tho said.

The province’s master plan, approved at the end of 2023, outlines the key economic pillars of industry, seaports and logistics, tourism and urban development, and services.

Tho further added that noteworthy developments include transforming Ba Ria-Vung Tau into a national marine economic centre, establishing a free trade zone linked to the Cai Mep Ha Port, developing the Cai Mep-Thi Vai International Gateway Port into the country’s largest transshipment port, building large-scale complexes in Phu My for various uses, and developing Vung Tau into an international-class high-end tourism centre.

“These initiatives reflect a deliberate strategy to optimise local resources, natural assets, and competitive advantages, aiming for sustainable and efficient development,” Tho said.

With its internal transport system largely completed and regional connectivity infrastructure underway, schemes like the Phuoc An Bridge, Bien Hoa-Vung Tau Expressway, the coastal route from Vung Tau to Binh Chau, Ring Road 4, the Ho Tram-Long Thanh Airport Expressway, and the Cai Mep International Port are laying the foundation for robust growth with double-digit economic expansion as a clear target.

VIR