UAE’s DP World to help southern Vietnam province build free trade zone
The UAE-headquartered DP World, a global leader in logistics, will help the southern coastal province of Ba Ria-Vung Tau build a free trade zone (FTZ), the first of its kind in southeastern Vietnam.
DP World and Ba Ria-Vung Tau People’s Committee have signed an MoU for the FTZ, the latter said on Wednesday. DP World experts will help the Vietnamese province build a plan for the move.
Glen Hilton (left, front), Asia Pacific CEO & managing director at DP World, and Ba Ria-Vung Tau Chairman Nguyen Van Tho (right, front) sign an MoU in Ba Ria-Vung Tau province, southern Vietnam, February 18, 2025. Photo courtesy of Ba Ria-Vung Tau newspaper.
The FTZ, connected to seaports in the Cai Mep Ha zone of the province, is expected to utilize Ba Ria-Vung Tau’s strategic position and help develop the province’s maritime economic, international trade, foreign investment attraction, and logistics sectors.
As of end-January 2025, Vietnam recorded 42,272 valid FDI projects with total registered capital of $505.4 billion. The accumulated disbursed capital of FDI projects was estimated at more than $324 billion, equal to 64.1% of the total valid registered capital, according to the Ministry of Planning and Investment.
Ba Ria-Vung Tau, as an FDI hub in Vietnam, ranked fifth among all localities with $36.6 billion.
The province recorded export revenue (not including crude oil) of $5.3 billion and import expenditure of $6.56 billion in 2024, up 12.4% and 7.72% respectively.
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