Ba Ria-Vung Tau expanding IPs to welcome investment

Update: 09:00 | 04/05/2021
New waves of investment coming to the southern province of Ba Ria-Vung Tau will push up demand for land rentals at local industrial parks (IPs), which in turn will need to be expanded.
An IP in Ba Ria - Vung Tau (Photo: VNA)
An IP in Ba Ria - Vung Tau. (Photo: VNA)

According to the provincial IPs management board, the province is home to 16 IPs covering a total area of 9,054 ha.

Together they house 469 valid projects worth more than 20.09 billion USD, with occupancy rates standing at 52.35 percent.

Nguyen Anh Triet, head of the board, noted that the upcoming expansion of local IPs is in line with a Government decree as well as State regulations on the management and planning of IPs and economic zones.

The board proposed the addition of eight more IPs on more than 8,120 ha in the 2021-2025 period.

In response, the Chairman of the provincial People’s Committee Nguyen Van Tho asked relevant departments and sectors to tightly monitor the establishment and expansion of local IPs, taking into consideration their investment effectiveness and impact on the environment and social welfare.

Nguyen Khac Thanh, General Director of Tin Nghia - Phuong Dong Industrial Park Joint Stock Company, said an immediate expansion is necessary to meet investors’ demand.

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(Source: VNA)