DONG NAI’S FDI ATTRACTION BOOMING, NEARLY TRIPLE IN Q1

Foreign direct investment in the southern province of Dong Nai surpassed 500 million USD in the first quarter this year, nearly tripling that in the same period last year, according to the management board of the provincial industrial parks.

Of the figure, there were 11 new projects with a total registered capital of nearly 50 million USD and 22 others with additional capital of more than 451 million USD, mostly those from Japan, the Republic of Korea and Taiwan (China). All of them utilise advanced technology and skilled labour in priority investment sectors. Among the 11 new FDI projects, six are in support industry.

Deputy head of the board Pham Van Cuong said over recent months, FDI attraction in Dong Nai has thrived with increasing quantity and quality of projects which involve the construction of new factories and manufacturing expansion.

Foreign investors pin high hope on projects underway in the province, especially Long Thanh airport and expressways. The province has also stepped up administrative reform and dealt with investor concerns, he said.

According to the approved plan, Dong Nai has 40 industrial parks (IPs) with an area of about 19,000ha. The province is now home to 32 IPs that are already in operation, with an occupancy rate of over 85%. The remaining IPs are yet to be built due to obstacles regarding investment procedures, rubber and forest land processing, auction and bidding, and zone planning.

Cuong said the province hopes that the Government, ministries and agencies will tackle bottlenecks and create favourable conditions for it to establish new IPs, thus attracting more capital from big corporations and businesses around the world.

Source: VIR