DONG NAI ATTRACTS OVER $1 BILLION IN FDI CAPITAL DESPITE THE LATEST DELTA WAVE

In spite of the prolonged pandemic, Dong Nai has lured nearly $1.1 billion in foreign direct investment (FDI) capital in the first 11 months of 2021.

Le Van Danh, deputy head of the Dong Nai Industrial Zones Management Authority (DIZA) said that foreign inflows into the province continues to rise during the pandemic. As of November, IZs in Dong Nai have attracted nearly $1.1 billion, surpassing 156.5 per cent of the yearly plan ($700 million). There are 46 new FDI projects with registered investment capital of $358.85 million and 94 FDI projects with the total additional capital of $736.64 million.

On November 15, the DIZA has granted an investment certificate for KSM ENG Vina manufacturing and processing factory in Giang Dien IZ, Trang Bom district with the total investment capital of $10 million. Covering an area of nearly 20,000 square metres, the project specialises in manufacturing metal components used in high-tech industries such as semiconductors, display equipment, aerospace, medical. The project is expected to be put into operation from November 2022.

In addition, Nestlé Vietnam has announced an extra $132 million investment in its Nestlé Tri An factory in the southern province of Dong Nai early last month to increase its processing capacity of high-quality coffee lines. Nestlé Group's expansion amidst the pandemic is proof that Dong Nai province and Vietnam continue to be a bright spot for foreign investment.

Other major projects include the Hansol Electronics Vietnam project at Ho Nai IZ, with the registered capital of $100 million, the $60 million factory of the Ojitex Vietnam Co. at Loc An-Binh Son IZ and Platel Vina’s plant at Amata Industrial Park, with $30 million.

According to the DIZA, since the beginning of the year, the province has recorded eight new local projects with the capital of $49.28 million and seven local ones with additional capital of $54.04 million, bringing the total domestic investment capital to VND2.38 trillion ($104.61 million), reaching 119.4 per cent of the year's plan.

Accumulated up to now, foreign investors from 45 countries and territories have made a total of 1,500 valid foreign-invested projects in Dong Nai with the total registered capital of $32 billion.

Source: VIR

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