16/07/2020
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PHU MY TOWN - INDUSTRIAL CENTER, SEAPORTS, LOGISTICS

Owning the Cai Mep - Thi Vai international port system, it is the 19th largest deep-water port in the world with the growth rate in the top 6 globally; Along with the transportation system that has been planned and invested in synchronous construction such as Ho Chi Minh City - Long Thanh - Dau Giay expressway, National highway 51, Ben Luc - Long Thanh expressway, Bien Hoa - Vung Tau expressway, Long Thanh International Airport... Phu My Town has prominent potential to become the leading seaport city of Vietnam as well as Southeast Asia in the future.

Reality shows that places with deep-sea port system, the future will become the trade center of both the country and the region. Singapore, Shanghai (China), Busan (South Korea) ... the international seaport owners, currently these cites have both became urban centers with large-scale, modern and famous around the world and contributing to change economy of the country. In Vietnam, places with the presence of seaports such as Hai Phong, Van Don, Ho Chi Minh City ... the economy also has a more prominent development than other regions.

Phu My town is gradually showing its strategic role when it is oriented to develop 5 key economic sectors of Ba Ria - Vung Tau including: specialized industry, seaports, port logistics, tourism, hi-tech agriculture to attract high-quality FDI.

idico - khu cong nghiep phu my 2 tinh ba ria vung tau
Image IDICO: Phu My Industrial park in Ba Ria - Vung Tau province

Currently, Phu My Town has 9 industrial parks with an area of ​​up to 5,000ha and 261 active projects with a total investment capacity of more than 16.3 billion USD. In which, the prominent industrial parks such as Phu My 2 and Phu My 2 Expansion adjacent to the Cai Mep - Thi Vai port system, with a total area of ​​1,020ha invested by IDICO Corporation. These two industrial parks have attracted over 20 investors, in which 90% are FDI with a total registered capital of about 3 billion USD and be continuing to attract investment in order to contribute speeding up the development of Phu My Town  forward  for a seaport city before 2025.

In the current context, when the investment wave is forecasted shifting after the Covid-19 pandemic and Vietnam gets many advantages when participating in free trade agreements such as CPTPP, EVFTA ...; Along with the Prime Minister's attention on the establishment of a special working group, building a project to attract foreign investment, Phu My Town is expected to become one of the highlight, creating breakthrough in infrastructure, logistics to absorb FDI inflows quickly and efficiently.