Take advantages to select industries for investment appeal

ME - In the period 2012-2015, Ba Ria - Vung Tau will focus investment in development of two key economic sectors including seaport and supporting industries. In these two sectors, there have a lot of related industries, which must select priority sectors for development in line with potential advantages and general direction of the province. These issues are concerned by the provincial leaders and functional departments.

Recently, with consecutive visits and work with provincial leaders, Japanese investors were very willing to invest in two key economic sectors of the province. The Japanese side proposed the province to specify invested sector in the province to actively select suitable firms.

Based on analysis of potentials and advantages as well as orientation of Ba Ria - Vung Tau province’s future, Ba Ria – Vung Tau defined 5 industry groups to call for Japanese investors to invest in the province including: mechanical engineering industry (manufacturing molds, production parts and spare parts for oil and gas, shipbuilding, automobile assembly, motorcycles ...); chemical industry (plastics, rubber); electric – electronic industry; high-grade steel production; logistics. In particular, specifying 3 strongest sectors are high-grade steel, petrochemical and logistics.

"For the steel industry, Ba Ria - Vung Tau province has now 17 projects, but most are construction steel projects, only one high-quality steel plant. Therefore, to have in-place raw materials for supporting industry, Ba Ria - Vung Tau would like the Japanese partner to more invest in high-grade steel projects. However, this industry should pay attention into selection of advanced and modern technologies in order to avoid import “garbage" devices and eject polluted waste into environment”, said Mr. Ho Van Nien, Deputy Chairman of BR-VT province.

With the 21km-long port system along the Thi Vai - Cai Mep River, Ba Ria - Vung Tau has potentials not only for development of maritime transport services, but also for shipbuilding industry. These sectors have advantages, but the technology industry in our country is still poor. If focusing on developing this sector, therefore, Ba Ria - Vung Tau can be considered one of the local pioneers. In the view of the province, so as not to affect the tourism industry, it needs to concentrate on development and repair limitation of shipbuilding technology. Furthermore, it also needs to incorporate production of kinds of machinery for the maritime industry.

As the cradle of the oil and gas industry, Ba Ria - Vung Tau has the advantages of chemical industry development. The province has presently a petrochemical project, which invested by Thai, is in the preparatory stage of investment. In the coming time, it may develop some more projects in the fields of manufacturing chemicals, plastic molds that will use materials from the petrochemical industry. This is also the direction of new investment consistent with the comparative advantages of the province. Power - electronics sector are almost completely new to Ba Ria - Vung Tau, but in the long term, it should be also developed to make the connection with the surrounding areas such as Dong Nai, Ho Chi Minh City, Binh Duong.