Red Monkey 2016 Spring Investment Festival: registered investment capital of approximately VND 3,600 billion attracted

INCREASE THE CAPITAL QUALITY AND EFFICIENCY

Appreciated the contribution of the domestic and foreign enterprises and investors to the socio-economic development of BR-VT, Mr. Nguyen Hong Linh affirmed that although the investment attraction decrease in comparison to that of the recent years in both the number of projects and the registered capital, the capital quality and efficiency has been significantly improved. In particular, several projects increased the registered capital; the working capital increases and the disbursement progress is faster than the planned one. According to Mr. Nguyen Hong Linh, in 2016, the world and national economy are expected to recover, the enterprises’ production and investment will be improved thanks to the more favorable access to the capital sources; the export will be promoted upon the implementation of the FTAs, Trans-Pacific Partnership (TPP) Agreement and the commitments in the ASEAN Economic Community. “FTAs gives us not only great opportunities but also great challenges and difficulties. However, by the effort, creativity and high determination of all levels, sectors and the enterprise community, we will take the opportunities to develop faster and more sustainable.” - said Mr. Nguyen Hong Linh.

Mr. Nguyen Hong Linh, Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Provincial Party Committee, Chairman of the provincial People’s Council (second from the left) and Mr. Nguyen Van Trinh, Chairman of the provincial People’s Committee (second from the right) granted the Investment Certificates and the Decision on Investment Policies to the first 5 projects of BR-VT in 2016.

By the end of 2015, the province has 295 foreign investment (FDI) projects with a total registered capital of nearly USD 27 billion and 434 domestic investment projects with a total registered capital of more than VND 240 thousand billions. BR-VT accounts for 10% of total FDI of Vietnam and ranks No. 2 out of 63 provinces (after Ho Chi Minh City). Additionally, the FDI rate in BR-VT has a large scale, averaging USD 86.7 million per project. Particularly in 2015, the province granted the Investment Certificates to 32 projects, including 12 FDI projects and 20 domestic investment projects, of which several projects were actively built and put into operation. Some of those projects are: Shaped steel and round steel manufacturing plant of Posco SS Vina Co. Ltd.; Steel billet manufacturing plant of Fuco Steel Co. Ltd.; Fiber manufacturing plant of Haosheng Vina Co. Ltd. and Steel refining and rolling plant of Vina Kyoei Steel Co. Ltd. According to Ms. Le Huong Giang, Vice Director of the Investment Promotion Center South Vietnam, those results indicated the strength of BR-VT, a good land for the development of industrial projects, supporting industries, petroleum, seaport services, logistics, resorts, etc.

(Source: http://www.baobariavungtau.com.vn)