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Ba Ria-Vung Tau: affirming its sustainable development Print
Monday, 03 June 2013 14:32

VIETRADE - The economic structure of Ba Ria-Vung Tau has been formulated as direction of service industry and agriculture from the beginning. This reasonable structure has been maintained for past years and shifted positively towards increasing the proportion of industry and services, reducing the proportion of agriculture in GDP.


Upon the detailed analysis of actual situation and experience lessons, as well its responsibility in the southern key economic region, the fourth Provincial Party Congress determined its main goal of developing Ba Ria-Vung Tau into an industrial province with a strong maritime economy based on the scientific study of natural conditions and potentials of the province. The province completed the economic development strategy for 2006-2010 with continuous growth rate. During five years from 2005 to 2010, the province still maintained the high economic growth rate, 17.78% at average; the total value added in 2010 is 2.27 times higher than that of 2005. GDP per capita (excluding oil and gas) reached 5,872, 2.28 times higher that of 2005 and four times higher than the national average. The economic structure shifted to increase share of services, attracting more investment capital in development. Centers of industry, ports, and tourism have been established. The economic structure in 2010 is 79%-80.2% of industry, 17.4%-18.5% of services and 2.3%-2.5% of agriculture. Annual growth rate of GDP was 12.5% -13.1% (including petroleum). As of 2011, the province has 295 valid foreign investment projects with a total investment capital of nearly US$ 28.1 billion. In which, 118 projects in IP have a total investment capital of more than US$ 11.14 billion and 177 projects outside IP have a total in vestment capital of nearly US$ 17 billion. The implemented investment capital reached US$ 6.43 billion so far, making up 22.9% of the total registered investment capital.


The province has always ranked top among those localities having largest foreign invested capital in Vietnam in recent years. As for 2010, the total GDP of Ba Ria-Vung Tau had a positive growth compared to that of many other localities with an increase of 15.1%. The industrial output value increased 19.63% compared to 2009. After the difficult economic recession, manufacturing and business operations of enterprises has basically returned to stable and grown; many products volume increased higher over the same period, especially steel, ceramic tiles, building stone, ice, cooking oil, etc. Besides, out of 14 IPs in the province, five IPs is under clearance process without land lease (Chau Duc: 964 ha, Dat Do 1: 339 ha, Long Huong: 280 ha, Phu My III: 630 ha, Dai Duong: 134 ha). The IPs attracted 25 more new investment projects with the total registered capital of US$ 1.3 billion, the rented land area is 170 ha, raising the total rented land area of IZs up to 2.092 ha, and the occupancy rate is 35.4%. With 23 new projects put into use, the total active project in IPs recorded 155 projects. The economic structure shifted positively towards reducing the proportion of agriculture and increasing the proportion of industryconstruction and services: industry-construction accounting for 60.3%, services 35%, agro-fishery 4.7%. Along with the economy development, the province's infrastructure has been invested increasingly, outstandingly the system of roads and of ports. The province has completed the transport infrastructure with a total length of 3,670 km. of which 133 km of national road, 617 km of provincial road and 381 km of urban road (601 km district road and 1,561 km of communal road).


The quality of material and spiritual life of the people is enhanced remarkably. The solutions of social security are always respected and carried out synchronously by the provincial leaders.  This is shown clearly through the poverty alleviation programs, credit programs for the poor,  construction of houses for the poor, etc. As of the end 2010, the province had 1,500 households out of poverty according to the provincial standard and 600 households out of poverty according to the national standard; the rate of poor household fell down below 1% compared to the provincial standard, and below 0.5% compared to the national standard. Moreover, the province supported to issue health insurance card for 120,000 poor people with a total cost of 36 billion dong, and exempted school fee for 26,000 poor students, loaned 10,000 poor households with a total cost 150 billion dongs.


During the period of 2011- 2015, Ba Ria-Vung Tau identifies its tasks as follows: to further improve the leadership capability and the combativeness of the Party, and a clean and strong political system; to promote democracy and strength of national unity; to develop vigorously the marine economy, to build Ba Ria-Vung Tau into a modernized industrial and port province by 2015; to develop economy associated with requirements of sustainable development; to enhance the income and quality of life, to ensure social security and welfare; to maintain political stability, to build a strong national defense and security, as well a solid defense region. To strive to achieve the average growth rate (GDP) of  14%/year, and 10.8%/year including oil and gas. The economic structure shifts under the right direction of 62% of industry-construction-35% of services- 3% of agriculture and that including oil and gas: 66.3% of industry-construction-31.1% of services-2.6% of agriculture.


For the orientation of economic development in 2020, Ba Ria-Vung Tau clarifies the development steps for each economic sector in each period. In particular, the province will support the oil and gas exploration in order to increase the extraction and processing volume of petroleum, and to develop the petroleum industry and services and sectors using gas as raw materials, fuels such as electricity, fertilizer, liquefied petroleum gas, petrochemical, steel, etc; the industrial sectors related to port systems and shipping service. Furthermore, it will boost up the processing of marine products for export and domestic consumption; take consideration to manufacturing of construction materials from local material sources. In addition, it will focus on in-depth investment, innovation of technological equipment for existing facilities.


Ba Ria-Vung Tau also has the policy of strengthening the administrative reform in order to create a friendly and transparent investment environment aiming at attracting domestic and foreign investment. The province encourages all economic sectors to participate in certain fields, but focuses on only modern and hi-tech corporations and enterprises for certain specific fields. Accelerating the administrative procedure reform is one of the driving forces that enables the province to achieve the investment objectives; the OSS procedures will reduce problem and cost for citizens and enterprises. Upon the right oriented steps, it is believed that Ba Ria-Vung Tau will further develop in the current development and integration period.

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