Ba Ria-Vung Tau to open free trade zone

Politburo Resolution No. 24-NQ/TW on boosting socio-economic development and security in the southern region by 2030 and vision to 2045 includes the formation of a free trade zone associated with the deep-water seaport in Cai Mep Ha in Ba Ria-Vung Tau province.

Chairman of the Ba Ria-Vung Tau Provincial People’s Committee Nguyen Van Tho spoke of the move at a recent conference on the implementation of the Resolution, adding that it aims to create a new driving force for the development of the southern region.

He noted that the province boasts a strategic position on the Trans-Asia route and has a network of deep-water seaports classified as national special ports that can berth vessels of 6,000-24,000 TEU. It also serves as a gateway to the East Sea for the southern region.

Investments in projects such as the Bien Hoa - Vung Tau Expressway, Ho Chi Minh City’s Ring Road No. 4, the Bien Hoa - Vung Tau railway line, and inter-seaport traffic routes will help develop a multi-modal transportation network connecting Thi Vai and Cai Mep Ports with the Cai Mep Ha logistics center, Long Thanh International Airport, the Ho Chi Minh City International Financial Center, and other logistics, urban, and industrial areas in the south.

To prepare for the Cai Mep Ha project, Mr. Tho said, the province has defined its location and scope on an area of over 1,687 ha, and has prepared a pre-feasibility study to submit to higher authorities for approval.

“The formation of the Cai Mep Ha free trade zone will create an effective economic tool for Vietnam to compete with regional countries in attracting investment and implementing the new phase of the industrialization strategy, and will be a driving force for the southern region to make a greater contribution to the country’s development,” he explained.

Ba Ria-Vung Tau will create strategies to attract capable investors into the free trade zone, focusing on key industries such as the hi-tech industry, seaports and logistics, tourism and commerce, the digital economy, and finance. It will also ensure sufficient infrastructure and available land plots within the zone.

The province will also introduce policies facilitating the synchronous, competitive, and effective development of the free trade zone, while generating jobs, attracting foreign investment capital, and creating high added value.

Under Resolution No. 24-NQ/TW, Ba Ria-Vung Tau is to develop into a national marine economic hub.