Ba Ria-Vung Tau attracts $1.6 bln of FDI in 5M

Southern Ba Ria-Vung Tau province topped the country in FDI attraction in the first five months of the year, with a total registered investment capital of over $1.64 billion, according to the provincial Department of Planning and Investment.

The figure represents a 12.6-fold increase compared to the same period last year, the Voice of Vietnam (VOV) has reported.

During the period, the province licensed 18 new FDI projects with a combined registered capital of $1.521 billion, a 42-fold surge year-on-year.

Nine existing projects were permitted to inject additional capital of $120.8 million.

The strong growth in FDI inflow in the province has been driven by high-quality projects from South Korea, China and Japan.

The province has so far attracted 475 foreign projects with a total registered capital of over $33.19 billion.