Ba Ria-Vung Tau grants new project licences

News - The southern province of Ba Ria – Vung Tau on Jan. 31 granted licences to four domestic projects capitalised at more than 26.7 trillion VND (roughly 1.28 billion USD).

The money, which accounts for 30 percent of the investment target set for 2012, will be poured into Nam Con Son 2 gas pipeline, Phuoc Thang urban area, Gelexim seaport and Phuoc An educational centre for disabled children.

On the occasion, foreign and domestic investors exchanged experience in investment in Ba Ria-Vung Tau.

Seven investors also presented 1.31 billion VND to charitable funds to support poor and disadvantaged people.

Last year, Ba Ria-Vung Tau attracted 25 foreign direct investment (FDI) projects capitalised at 950 million USD and 38 domestic projects worth nearly 12 trillion VND.

By the end of 2011, the province had had 298 valid FDI projects with a total registered capital of over 27 billion USD and 416 domestic projects valued at some 180 trillion VND.

The locality saw more than 1.5 billion USD being disbursed, generating jobs for about 33,500 labourers.