On March 30, 2024, the conference to announce the planning for the 2021-2030 period, vision to 2050, and investment promotion in 2024 introducing the advantages, development potentials as well as investment attraction orientations of Ba Ria – Vung Tau province took place in Xuyen Moc district.
According to the master plan approved by the Prime Minister in decision no.1269/QD-TTg dated 16/12/2023, Ba Ria - Vung Tau province is built to develop comprehensively, becoming one of the crucial driving forces for the development of the Southeast region, the national marine economic center and in the group of 5 leading marine economic development localities of the country.
To meet the development requirements with a long-term vision, Ba Ria - Vung Tau province organizes the development space according to 4 functional areas, focusing on 3 dynamic economic axes including the industrial dynamic economic axis - Cai Mep - Thi Vai seaport associated with the inter-port traffic system and National Highway 51; industrial dynamic economic axis - logistics along Bien Hoa - Vung Tau highway and Ring Road 4 in Ho Chi Minh City; economic axis driving coastal tourism along the provincial road DT994 and the road connecting to Bien Hoa - Vung Tau expressway. The province also selected 4 important economic sectors as pillars, including industry; maritime, logistics services; tourism, and high-quality service industries associated with the development of modern urban systems.
Also within the framework of the conference, the People's Committee of Ba Ria - Vung Tau province awarded investment policies and investment registration certificates to 10 domestic investors and 5 foreign investors in the fields of chemicals, industry, electronics, pharmaceuticals, urban areas, industry, travel... Including the Bio-based (1,4 Butanediol) BDO production project of Hyosung Dong Nai Co., Ltd. in IDICO Phu My II Industrial Park with an investment capital of 730 million USD. This is Hyosung's second project besides the carbon fiber factory project with an investment of about 560 million USD also in IDICO Phu My II Industrial Park.
With a total investment capital of nearly 1.3 billion USD from Hyosung, IDICO Phu My II Industrial Park has affirmed its position as an attractive destination for leading investors in the world in the field of biotechnology in particular, and key economic sectors in general. With its location adjacent to the Cai Mep – Thi Vai deep-water port cluster, with the advantages of the road transportation system such as: having route 965 running through, connecting with National Highway 51, which is an arterial route connecting with the Southeast provinces and the Southern Key Economic Region; Located next to the inter-port route, connecting the port system along the Thi Vai - Cai Mep river to serve the needs of trade, transportation, materials, goods ... In addition, in the industrial park, there is also an inland port system that can receive ships and barges up to 3,000 tons along with a technical infrastructure system planned and invested in synchronous construction including an internal traffic system, power supply system, water supply, rainwater drainage, etc wastewater, wastewater treatment... IDICO Phu My II Industrial Park is a destination that fully converges the most favorable conditions, ready to welcome and cooperate with investors.
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