Foreign, domestic investment in Ba Ria - Vung Tau rises sharply

The foreign direct investment (FDI) attracted during the period is equivalent to 81.4% of this year’s target, Tran Thuy Cam Le, Deputy Director of the provincial Department of Planning and Investment, told a meeting reviewing the April performance.

Workers at the factory of the Viet An International Co. Ltd in Phu My town, Ba Ria - Vung Tau province (Photo: VNA)

During January - April, nearly 1.63 billion USD was poured into 24 FDI projects, both new and existing ones. The value shot up 16-fold year on year.

With the latest investments, Ba Ria - Vung Tau is currently home to 474 FDI projects worth nearly 33.18 billion USD.

Meanwhile, 11 new and existing domestic projects were injected with more than 25.93 trillion VND during the four months, surging 3.9-fold year on year.

As a result, there are now 692 domestic investment projects with total registered capital topping 398 trillion VND, statistics show.

Le said the province, which is part of the southern key economic region, also recorded fast growth in many other economic figures over the last four months.

In particular, total retail sales of goods increased 12.19% year on year; revenue from transport, warehouse and transport supporting services 8.16%; cargo throughput at local ports 33.91%; revenue from accommodation services 16.79%; and earnings from travel services 42.62%.

Besides, almost 32.37 trillion VND was collected for the state budget during the reviewed period, equivalent to 36.53% of this year’s target and rising 8.27% from a year earlier. Foreign invested firms contributed the most, about 6.18 trillion VND, according to the official.