In recent years, Ba Ria-Vung Tau province has been on the list of provinces with high economic growth. Last year, its economy has achieved more than 15 billion USD, accounting for 6 percent of the country’s Gross Domestic Product. The province rank 4 out of 63 provinces and cities in terms of Gross Regional Domestic Product (GRDP). It contributes more than 5 percent to the national budget revenue and is one of few provinces and cities that gain autonomy in balancing local budgets since 1996.
Ba Ria-Vung Tau in ASEAN community integration trend
The development of Ba Ria-Vung Tau province over the past 30 years has been in parallel with Vietnam’s integration into ASEAN. The province has made great strides in all fields, achieving growth in economic size and maintaining its important position in key southern economic zones.
