Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.

Of the 53 projects, 26 are foreign-invested projects worth a total of nearly $1.02 billion and 27 domestic ones worth VND71,063 billion ($2.73 billion).

The handovers took place at the “Investment Conference 2025: Choosing Ba Ria-Vung Tau” organized by the provincial People's Committee.

Thammasak Sethaudom, president and CEO of Thailand's Siam Cement Group (SCG) - the investor of Long Son Petrochemicals Complex, previously stated that SCG is considering re-operating its billion-dollar complex in the context that the world price of petrochemical products - types its complex produces - has hit rock bottom.

In October 2024, SCG said the Long Son complex “temporarily halted operations to manage overall business costs, with plans to reassess operations when conditions are more favorable.”

At the conference, Trelleborg Vietnam Co., Ltd., which specializes in advanced polymer products, received a certificate for an additional investment capital of $16.9 million at its factory in Phu My 3 Specialized Industrial Park.

Colorful Nylon Fiber Co., Ltd. in Dat Do 1 Industrial Park got an investment registration certificate for its $120 million project.

Pro-Tech Industrial Co., Ltd., under China's Pro-Tech Industrial, was granted an investment registration certificate for its 18 million high-end sanitary appliances factory project in Phu My 3 Specialized Industrial Park.

The FDI projects also include the $20 million QuickPack Household and Hygiene Vietnam Co., Ltd. factory in Chau Duc Industrial Park; and the $25 million Aventon electric bicycle factory; the $25 million Haoda thermos cup factory; and the $27 million Neway Valve Vietnam Co., Ltd. plant, all in Dat Do 1 Industrial Park.

Meanwhile, Coretronic Technology Co., Ltd. in Phu My 3 Specialized Industrial Park was allowed to make an extra $60 million investment.

Among the group of 27 domestic projects, Sun Group received an investment registration certificate for its 3/2 Street urban area project in Vung Tau worth VND34,995 billion ($1.43 billion).

Sun Group started construction of this giant project on May 16, which is poised to become one of the largest integrated urban complexes ever undertaken in the province.

Santosa Development and Investment JSC was approved to invest in the Dai An ecological urban area project in Long Dat district, with a total investment of VND4,072 billion ($156.49 million).

IDICO Investment Construction Oil and Natural Gas JSC was handed over an investment registration certificate for its VND1,988 billion ($76.4 million) My Xuan B1-Conac industrial park expansion project in Phu My town.

Vietnam Agriculture Tourism Trading JSC received in-principle approval for its Poseidon 5-star tourist apartment and hotel project in Vung Tau, with an investment hike of VND1,997 billion ($76.74 million).

Green World JSC got an investment registration certificate to adjust its Odyssey 5-star tourist apartment and hotel project in Vung Tau with extra VND2,476 billion ($95.15 million).

These two projects belong to domestic company Five Star Group which is headquartereed in Long An province.

Long Son Company Limited received in-principle approval to invest in the Long Son My Xuan general port project in Phu My, at the cost of VND2,385 billion ($91.66 million).

In the first five months of 2025, Ba Ria-Vung Tau province okayed 73 projects which are either newly-registered projects or those with capital expansion to the tune of about $4 billion.

Of the 73, 37 are FDI projects with a total sum of newly registered capital or increased capital of about $1.25 billion and 36 domestic projects (VND71,500 billion or about $2.75 billion).