Ba Ria - Vung Tau Promoting International Cooperation

Ba Ria – Vung Tau is located in the Southern key economic region, a gate way of trans-Asia corridor with seaport, airport, network of canals, national highways 51, 55, 56 linking with other provinces and foreign countries. With a coastline of 304.5 km and continental shelf of 100,000 sq. kilometres and Poulo Condore islands, the province has great advantages in developing sea-based economy. In recent years, the province has developed successfully sea-based economy, especially oil and gas industry and related services. It has also great potentials for development of tourism, aquaculture, seaport and maritime transport.

In 2006-2010, the province continues a high economic growth rate of 17.85 % a year, excluding oil and gas (18.19 % in industry, 26.13 % in trade and service and 6.08 % in agriculture. Currently, the province contributes 20-30 % to State budget. GDP per capita in 2010 is expected at US$5,827 per annum. The economic structure is transforming favourably for industry-service-agriculture. So far, the province has 13 industrial zones covering 8,400 hectares (eight IZs completed infrastructure, four under land clearance and one newly established). 2,029 hectares have been rented (38.3 % occupancy).

 

Tourism infrastructure has been developed in five centres with diversified forms: resort, recreation, eco-tourism, sea-tourism combining with conferences. The province attracts over 6 million local and foreign tourists a year. Many foreign tourism projects have been invested in the province such as Ho Tram ASEAN Coast (US$4.1 billion), KDL Saigon Atlantic (US$4.2 billion).

 

Meanwhile, deep-water ports under construction in Cai Mep – Thi Vai, Dinh river and Con Dao will meet the demand of cargo and passengers transport for socio-economic development. Currently, the province has 52 ports (48 in Cai Mep – Thi Vai, Vung Tau –Dinh river and four in Con Dao district). 17 ports are under operation, 12 under construction and 23 under investment formalities. In 2009, the province received for the first time the biggest container ship from SP-PSA port (US) and so far 52 foreign ships from Japan, Singapore and the US have unloaded 350,000 tonnes of cargo and 78 shipments in Tan Cang, Cai Mep with 1,290,450 tonnes.

 

The province has also mobilized resources from the local people for socio-economic development and State revenue. The total investment in 2006-2010 will be VND95,000 billion, 1.7 times more than 2001-2005, with VND48,000 billion from 23 countries and territories. Local and foreign investments will make up 84 % of investment capital for development.

To promote international cooperation and attract investments, the province will focus on the following activities in the coming years:

 

Calling for investments in industrial zones and handicraft centres:  The Western part of the province near the Thi Vai river and Highway 51 is most favourable for the development of industrial zones, especially industries using gas, and the development of port network. The industrial zones will have priority for high technology. So far the province has developed main industries namely oil and gas, electricity, LPD, metallurgy with rolled steel and stainless steel, NPK fertilizer, seafood processing, construction stone. Beside major IZs, the province has also developed small and medium industrial centres to promote handicraft production and agricultural processing.

Developing oil and gas industry and services: The province will build a network of modern ports, repair and construct drilling platform, ensure technical and logistic services for the exploration, exploitation, transport and processing of oil and gas.

Mobilizing all resources to build a network of modern ports and services: The province will regard it as a spearheaded economic sector in the coming year. At the same time, the province will build port network as approved by the Prime Minister, new shipyards and container factories, maritime services and new fleet meeting the demand of maritime transport at home and soon in the region and the world over. International maritime services will be developed in Thi Vai, Vung Tau and Con Dao. The cargo volume will be 12.4 million tonnes in 2010 and 124-145 million tonnes in 2020.

Reorganizing aquaculture and processing industry: The province will promote offshore fishing and related infrastructure, expand fishing areas, encourage technology transfer, build new fishing boats of bigger capacity.

Developing sea-tourism: The province will combine natural resources with sea-tourism along the coastline and Con Dao islands, develop a modern sport and recreation centre, fishing areas and tourist centres, fishing and oil and gas museums.

In implementation of Decision 264/2005/QD-TTg of October 25, 2005 of the Prime Minister on socio-economic development to 2020, the province will build Con Dao into modern tourist centre of international standard, contributing to the socio-economic development of the province and nation wide.

The economic recession has in fact affected socio-economic development of the province. The province has implemented several solutions of the government on stimulus packages, assisting businesses to overcome difficulties and ensure social welfare, As a result, most of economic sectors in the province have recovered and recorded certain progress (GDP increased 4.31 % in Quarter 1, 9.92 % in Quarter 2, 11.79 % in Quarter 3). The province will continue to support businesses with the following measures:

-          To implement socio-economic development plan, announcing construction areas to attract investments in accordance with the potentials and advantages of the province, ensuring sustainable development, environment protection and social welfare.

-          To create favourable conditions for the development of services: tourism, oil and gas industry, port logistics, finance, banking, health, education.

-          To develop infrastructure for businesses to implement projects, attract investments in industrial zones, seaports, tourism, seafood processing centres.

-          To accelerate administrative reform to facilitate business activities including the implementation of Project 30 of the government.

-          To transfer registered capital into implementation capital for socio-economic development, to introduce potentials and advantages of the province.

-          To encourage all economic sectors invest and develop training centres, connecting investors and training centres, providing skilled workforce, meeting the demand of the projects, at the same time maintaining stable population and gradually improving the living conditions of the people in the province.