The Executive Committee of the Party Committee of Ba Ria – Vung Tau province has just held the 22nd Conference to evaluate the socio-economic development, national defense and security situation in the first 9 months and the remaining 3 months of 2024. The results show that in most economic sectors, Ba Ria – Vung Tau has recorded more outstanding results than the same period, especially the vibrant investment activities…

GRDP has the highest growth rate in the past 10 years

According to the Executive Committee of the Party Committee of Ba Ria – Vung Tau province, in the first 9 months of 2024, despite many difficulties and challenges, the socio-economic situation of Ba Ria – Vung Tau province continued to maintain a stable development momentum. In particular, the gross regional domestic product (GRDP) in the area increased by 11.47%, the highest increase in the past 10 years, ranking 4th in the country.

Most economic sectors recorded outstanding results compared to the same period last year. In the first 9 months of 2024, 13/14 economic and financial indicators grew compared to the same period and were higher than the plan for the whole year of 2024, notably: industrial production value excluding oil and gas increased by 16.1%; retail sales of goods increased by 13.14%; accommodation service revenue increased by 19.61%; tourism service revenue increased by 39.68%; export and import turnover increased by 9.35% and 7.28% respectively. The total newly and additionally attracted domestic and foreign investment capital was equivalent to VND 82,426 billion, 3.2 times higher than the same period last year. Up to now, the province has 489 foreign investment projects; 697 domestic investment projects…

The Management Board of Industrial Parks of Ba Ria – Vung Tau province said that up to now, the province has 4/14 industrial parks (IPs) in operation with an occupancy rate of 100%.

The industrial parks with this occupancy rate include: Phu My I Industrial Park (695ha of industrial land area), My Xuan A Industrial Park (228ha), My Xuan A2 Industrial Park (267ha) all in Phu My town and Da Bac Industrial Park (186.6ha) in Chau Duc district. At the beginning of 2024, the occupancy rate of the industrial parks in the area only reached 66.63% out of a total of 13 industrial parks with completed infrastructure construction.

With its natural and social advantages, along with a strongly invested inter-regional transport system, Ba Ria – Vung Tau continues to attract many large-scale investors in many fields, including many large projects in industrial parks.

Another bright spot in the economic “picture” that needs to be mentioned is the petrochemical complex with a total investment of more than 5 billion USD, a national key project that will officially be commercially operational from September 2024.

Specifically, Long Son Petrochemical Company Limited (LSP, a member of SCG Group Thailand) said that the petrochemical complex project with a total investment of more than 5 billion USD in Ba Ria – Vung Tau, officially put into commercial operation, will contribute greatly to the province’s budget revenue. The company expects the complex to play an important role in developing the petrochemical and plastics industries in Vietnam, while demonstrating its commitment to providing high-quality products and focusing on sustainable development.

Gratitude to businesses and entrepreneurs

The bright economic “picture” mentioned above is thanks to the open policies of the Party and State, the efforts to reform administrative procedures, and create an attractive investment environment for businesses and entrepreneurs by the leadership of Ba Ria – Vung Tau province.

On the occasion of Vietnam Entrepreneurs Day (October 13) in 2024, the People’s Committee of Ba Ria – Vung Tau province held a meeting to honor the great contributions of businesses and entrepreneurs to the development of Ba Ria – Vung Tau province in the past time.

Speaking at the opening of the meeting, Mr. Nguyen Van Tho – Chairman of the People’s Committee of Ba Ria – Vung Tau province sent his best wishes to the business community and entrepreneurs in the whole province. Thank you, in response to the call of the Vietnam Fatherland Front Committee of Ba Ria – Vung Tau province, the business community and enterprises of the province have been pioneers and accompanied to support the people of the northern provinces affected by storm No. 3 and prolonged flooding.

The leaders of Ba Ria – Vung Tau province affirmed that the team of entrepreneurs and the business community in Ba Ria – Vung Tau province have constantly strived, innovated and overcome all difficulties and challenges to grow and develop in both quantity and quality.

In fact, in 2024, Ba Ria – Vung Tau province has focused on implementing activities to support and connect businesses; organizing dialogue conferences between provincial leaders and businesses and investors to create conditions for businesses to exchange, share information, experiences, connect, and expand markets in the fields of seaports, logistics, tourism, etc.

In particular, focus on reviewing problems and difficulties to promptly resolve and support businesses and investors in the province. The People’s Committee of Ba Ria – Vung Tau province and leaders of departments and branches all arrange time to meet businesses and investors in the early morning every day and once a week.

From the policies that the province has implemented, along with the efforts and determination of the entire political system and the business community, the socio-economic situation in the province has changed for the better compared to the same period in 2023, with many outstanding bright spots.

Besides focusing on economic development, with the spirit of solidarity, mutual support and sharing, the community of enterprises and entrepreneurs has contributed money and materials to take care of the poor, people with revolutionary contributions, and people in difficult circumstances.

On the occasion of the meeting to celebrate Vietnam Entrepreneurs Day 2024, the provincial leaders hope that the business community and entrepreneurs will continue to strive, overcome difficulties and challenges, seek opportunities, and have more effective and stronger solutions to continue to maintain and develop production and business. From there, contribute more to the successful implementation of the socio-economic development task of Ba Ria – Vung Tau province.

On this occasion, the People’s Committee of Ba Ria – Vung Tau province announced the decision to award certificates of merit to 42 enterprises with outstanding achievements in production, business, budget contribution and social security work in the province. Investment certificates were awarded to 6 domestic and foreign investors, with a total investment capital of 100 million USD and 10,000 billion VND.