An Economic Overview of Ba Ria – Vung Tau Province
Ba Ria – Vung Tau (BRVT), situated in the southern key economic zone, is one of the major economies and investment destinations in Vietnam. The region contributes close to eight percent to the national GDP and over 10 percent to the government’s revenues. The rapid economic growth in the last decade has led the province to have one of the highest GDP per capita and living standard in Vietnam.
In 2018, the region’s gross regional domestic product (GRDP) grew by 7.2 percent (excluding oil and gas), the fastest in eight years.
The industry and construction sector accounted for 57.43 percent of the total economy, followed by the services and agriculture, forestry, and fishery sectors.
This is an exerpt from an article appearing in Vietnam Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit vietnam-briefing.com.