According to the Ba Ria-Vung Tau Department of Planning and Investment, the province has witnessed a significant surge in investment attraction over the last eight months. Specifically, in August alone, six new FDI projects were licensed with a total registered capital of over $108 million, and one existing project had its capital adjusted upwards by $9.21 million.
Ba Ria-Vung Tau continues to attract FDI projects
In the first eight months, 41 projects were licensed or had their capital increased, resulting in a total additional registered capital of over $1.874 billion (93.7% of the plan for 2024) – a 3.35-fold increase compared to the same period in 2023. Thus, as of now, the province is home to 482 foreign-invested projects with a total registered capital of over $33.415 billion.
Domestic investment attraction in the province also witnessed a substantial increase over the eight months, with 21 projects licensed or having their capital adjusted, resulting in a total registered capital of VND 27,751 billion (134.4% of the plan and a 2.98-fold increase compared to the same period). Among these, 13 were new projects.
Mr. Le Ngoc Linh, Director of the Department of Planning and Investment, stated that to attract these projects, the Ba Ria-Vung Tau PPC is implementing the 2024 Investment Promotion Program, the Industrial Development Program, and the Trade Promotion Program. They have also established task forces to assist enterprises and investors in accessing information and facilitating investment procedures for projects called for in the 2021-2030 period.
Additionally, the province continues to implement investment attraction solutions for the last four months of 2024 and develop investment attraction plans for 2025. They are also focusing on accelerating the progress of key projects and handling projects with slow implementation within the province.
In the first eight months, Ba Ria-Vung Tau collected VND 63,893 billion in budget revenue (72% of the estimate), an increase of over 10% compared to the same period. During the same time frame, the total budget expenditure was VND 16,884 billion (estimated at 51.58% of the estimate).
The largest sources of budget revenue included taxes from FDI enterprises (VND 11,328 billion), followed by taxes from non-state commercial, service, and business industries (VND 3,566 billion), personal income taxes (VND 2,951 billion), taxes from central state-owned enterprises (VND 2,920 billion), land use fees (VND 1,627 billion), and lottery construction taxes (VND 1,330 billion).
The New Sub-division Regulations in Ba Ria – Vung Tau: Unraveling the 2024 Land Law
On September 7, the People’s Committee of Ba Ria-Vung Tau Province announced the issuance of Decision No. 24/2024 (referred to as Decision No. 24) regulating the conditions for land division and amalgamation and the minimum area allowed for land division, applicable to various types of land within the province.
The Golden Opportunity: Unveiling the $2 Billion Super Project in Nghe An
The LNG-fired power plant project in Quynh Lap, with a capacity of 1,500MW, is a significant undertaking in the villages of Dong Minh and Dong Thanh, Quynh Lap Commune, Hoang Mai Town, Nghe An Province.
“The Economy of Quang Binh Continues to Improve Positively”
In August 2024, despite ongoing challenges, the economic landscape of Quang Binh province continued on a positive trajectory. This month’s achievements contributed to an overall improved outcome for the first eight months of the year.
The Road to Redemption: Bach Dat An Company Pays Back Taxes to Regain Business License in Quang Nam
Mr. Le Van Dung, Chairman of the People’s Committee of Quang Nam Province, asserted that the enterprise had essentially fulfilled its commitments following the province’s issuance of an ultimatum.
The Pearl of Vietnam’s South Coast: Ba Ria – Vung Tau’s Impressive Tourism Revenue During the Four-Day Holiday
According to the Ba Ria-Vung Tau Provincial Tourism Department, both the number of tourist arrivals and overnight visitors increased compared to 2023, despite heavy and prolonged rainfall throughout the province during the holiday period.
