The size of Ba Ria-Vung Tau’s economy increased 6.6-fold in the 2001-2020 period. The province will further promote its industrialization, focusing on external factors associated with international integration.
The Ba Ria-Vung Tau Provincial People’s Council has allocated VND670 billion ($29.08 million) from the provincial budget for site clearance compensation for the Bien Hoa - Vung Tau Expressway project. The Expressway will be 53.7 km in length, with total investment in the first phase of more than VND17.8 trillion ($772.89 million).
Southern Ba Ria-Vung Tau province will auction seven land plots with a total area of over 228 ha this year and expects to collect nearly VND12 trillion ($524.7 million). The list includes the Cu Lao Ben Dinh ecological urban area, on 110 ha. This new and modern urban area has mixed functions, including housing, commercial services, office space, an international passenger port, an amusement park, and tourism services.
According to the land use orientation adopted by southern Ba Ria-Vung Tau province, the total space for urban area development is expected to be about 90,000 ha by 2050. The orientation will comply with sustainable development requirements and exploit the production capacity of key economic sectors.
Advantages in promoting investment in transport infrastructure combined with industrial and tourism development have created major opportunities for the real estate market in southern Ba Ria-Vung Tau province.
