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On December 17, the project of Polypropylene (PP) factory and Hyosung LPG underground storage facility in Cai Mep - Thi Vai area, Phu My town, Ba Ria - Vung Tau province was inaugurated. This is one of the typical projects of the province to celebrate the 30th anniversary of the province's establishment.
Although Vietnam, especially Ho Chi Minh City and the Southern region, has been hit by the epidemic and has had to apply prolonged social distancing. However, despite the pandemic, the performance indicators collected in the first 9 months of 2021 are more positive than the same period last year, and many trends in the industrial real estate segment will have the opportunity to break through in 2022.
More than 4.4 km long, with 4 lanes, Phuoc Hoa - Cai Mep road has been completed and opened to traffic, finally. The project has Mo Nhat bridge spanning the river of the same name with a length of 696 m, a bridge cross section of 20 m, including four lanes.
The continuous waves of COVID-19 have challenged the Vietnam industrial market in Q3 2021, and heavily impacted the Southern region. In July, Directive 16 was applied in HCMC, Binh Duong, and Dong Nai that nearly frozen the inter-province transportation of labour force and goods. From what was experienced in Bac Ninh, the government and manufacturers adjusted their plan frequently to maintain the production and safety of the labour force during this challenging period.
In the first 9 months of the year, despite being heavily affected by the COVID-19 epidemic, the activity of attracting investment in industrial parks in the province still achieved positive results, exceeding the plan for the whole year.
This has a huge impact that makes Ba Ria – Vung Tau real estate market attractive to investors,especially in the type of industrial real estate.
Many areas, including infrastructure construction and renewable energy production, are assessed to be the potential for US businesses to invest in Vietnam.