Vice Chairman of the provincial People’s Committee Dang Minh Thong said, in 2023, total development investment capital in the province is expected to reach nearly VND 59 trillion (about USD 2.6 billion), up 6.54%. The total local budget revenue is projected at nearly VND 89 trillion (nearly USD 3.8 billion), of which domestic budget revenue is roundly VND 43 trillion.

Cai Mep - Thi Vai sea port

Accordingly, the province has rolled out action plans for 2023 with a focus on deploying work such as connecting inter-regional infrastructure and key projects, and medium-term public investment projects during 2021-2026. They will also plan out the Bien Hoa - Vung Tau expressway project (the first phase), the Phuoc An bridge, Ring Road No.4; Highway No.994, and coastal road.

The province has also developed projects to lift Ba Ria - Vung Tau into a national economic center including works on a free trade zone associated with Cai Mep - Thi Vai area, and a project to modernize Cai Mep - Thi Vai sea port, among others.

In 2022, the province achieved significant socio-economic developments (excluding oil and gas) with an expected increase of 10.97% compared to 2021, the highest rise of the province in the past decade. Budget revenue was estimated at about VND 110,000 billion, reaching 153.4% of the estimate. Domestic revenue reached VND 45 trillion, reaching 130% of the estimate, the highest rate in recent years.

In the same year, the province attracted 58 foreign direct investments, increased capital for 40 projects with a total of newly granted and adjusted domestic and foreign investment capital of about USD 2.07 billion, or 112.77% of the plan.

Source: VNA