Ba Ria - Vung Tau licensed 26 FDI projects, attracting investment of more than 1 billion USD

On May 30, at the conference “Investment 2025: Choosing Ba Ria - Vung Tau ”, the Provincial People's Committee awarded Investment Registration Certificates and Investment Policy Decisions to 53 projects, including 26 FDI projects with a total registered capital of 1.018 billion USD and 27 domestic projects with a total capital of 71,063 billion VND.

Notably, the Long Son Petrochemical Complex (LSP) adjusted its investment by an additional 400 million USD, raising the total project investment to 5.4 billion USD.

The project, invested by SCG Group (Thailand), was put into commercial operation at the end of September 2024 but was temporarily suspended in November of the same year due to a sharp decline in the price of petrochemical products in the international market. Recently, SCG CEO Thammasak Sethaudom said that the group is considering re-operating the project in the context of product prices hitting rock bottom.

Mr. Nguyen Van Tho - Chairman of Ba Ria - Vung Tau Provincial People's Committee awarded investment registration certificates to domestic and foreign enterprises.

Among the newly licensed FDI projects are many large-scale projects such as: Colorful Nylon Fiber Company Limited Factory in Dat Do 1 Industrial Park with an investment capital of 120 million USD; QuickPack Household and Hygiene Vietnam Company Limited Project in Chau Duc Industrial Park (20 million USD);

Aventon electric bicycle factory and Haoda thermos cup factory in Dat Do 1 Industrial Park (each project 25 million USD);

Neway Valve Vietnam Co., Ltd. (27 million USD) and Pro-Tech Industrial Co., Ltd. (18 million USD) invested in high-end sanitary equipment manufacturing projects at Phu My 3 Specialized Industrial Park;

Coretronic Technology Company Limited is also allowed to invest an additional 60 million USD in Phu My 3 Industrial Park;

Trelleborg Vietnam Co., Ltd. adjusted to increase investment capital by 16.9 million USD for the factory in Phu My 3 Industrial Park.

At the 2025 investment conference, Ba Ria - Vung Tau licensed 53 projects, of which the Long Son petrochemical complex adjusted to increase investment capital by 400 million USD.

In the group of 27 domestic projects, the most prominent is the 3/2 Street Urban Area project in Vung Tau City bySun Group with a total investment of 34,995 billion VND, starting construction on May 16.

In addition, there is the Dai An Eco-Urban Area Project in Long Dat District of Santosa Investment and Development Joint Stock Company (VND 4,072 billion); My Xuan B1 - Conac Industrial Park Expansion Project in Phu My City of IDICO Petroleum Construction Joint Stock Company (VND 1,988 billion).

Two projects of Five Star Group, Fivestar Poseidon and Five Star Odyssey in Vung Tau City, have adjusted their investment capital to increase by VND1,997 billion and VND2,476 billion, respectively.

The project "Long Son My Xuan General Port" in Phu My of Long Son Company Limited with a total investment of 2,385 billion VND was also approved in principle for investment.

In the first 5 months of 2025, Ba Ria - Vung Tau has newly granted and adjusted capital for 73 projects with a total converted capital of about 4 billion USD. Of which, there are 37 FDI projects with a total newly registered and increased capital of about 1.25 billion USD; along with 36 domestic projects with a total adjusted capital of nearly 71,500 billion VND, about 2.75 billion USD.

Speaking at the conference, Deputy Prime Minister Mai Van Chinh acknowledged the outstanding achievements of Ba Ria - Vung Tau province in socio -economic development in recent times. The economic growth rate has been maintained at a fairly high level; the economic structure has shifted strongly towards industry - services; the investment and business environment has been increasingly improved; many large projects with high spillover effects have been implemented.

Total social investment capital in Ba Ria - Vung Tau in the 2021-2024 period reached 240,000 billion VND, of which capital from domestic and foreign enterprises accounted for 76.5% with more than 183,000 billion VND.

The Deputy Prime Minister emphasized: "Although accounting for only 0.6% of the area and more than 1% of the country's population, by 2024, the province will rank 6th in economic scale, 4th in budget revenue and 5th in attracting foreign investment" .

According to the Deputy Prime Minister, the province needs to continue to innovate its development thinking, make the most of its advantages in terms of location, economy, trade, promote administrative reform and support business development, especially the innovative startup ecosystem. The Government affirms that it will always accompany the provincial government and people so that Ba Ria - Vung Tau can grow strongly and become a growth pole of the Southeast region and the whole country.

The conference is expected to create great influence, opening up new development space with Ho Chi Minh City and Binh Duong, making Ba Ria - Vung Tau an attractive destination for domestic and foreign investors.

Luong Y

Source: https://vtcnews.vn/ba-ria-vung-tau-cap-phep-26-du-an-fdi-thu-hut-dau-tu-hon-1-ty-usd-ar946029.html