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Vietnam’s Ba Ria – Vung Tau province sees fall in FDI performance in 2024

In December 2024, Ba Ria – Vung Tau province registered 36 new foreign direct investment (FDI) projects with a total capital of US$1.71 billion, according to data from Vietnam’s Ministry of Planning and Investment. This represents a slight decrease of 11.59 percent over 2023 when the province recorded US$1.64 billion in newly registered capital.

Foreign direct investment (FDI) in Ba Ria-Vung Tau Province plays a significant role in the province’s economic development, leveraging its strategic coastal location, deep-water ports, and abundant natural resources. As a key industrial and logistics hub in southern Vietnam, Ba Ria-Vung Tau attracts FDI across various sectors, including oil and gas, manufacturing, logistics, tourism, and renewable energy. The province is home to some of Vietnam’s largest oil and gas fields, making it a focal point for energy-related investments.

Major deep-sea ports, such as Cai Mep-Thi Vai, have enhanced the province’s position as a critical gateway for international trade, attracting significant FDI in logistics and port services. Industrial zones like Phu My and My Xuan offer modern facilities and favourable conditions for foreign investors, hosting major projects from countries like Japan, South Korea, the United States, and Singapore. Key industries include petrochemicals, steel production, and export-driven manufacturing.

In recent years, Ba Ria-Vung Tau has also seen growing FDI in tourism and renewable energy, particularly wind and solar power, aligning with Vietnam’s sustainability goals. With its well-developed infrastructure, investor-friendly policies, and proximity to Ho Chi Minh City, Ba Ria-Vung Tau is expected to remain a top destination for FDI, contributing to Vietnam’s economic growth and global trade connectivity.

See also: Doing Business in Ba Ria-Vung Tau, Vietnam

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