Dong Nai attracts $2 billion in investment

Monday, Oct 26, 2015 08:32

Workers make footwear at Dong Nai Co Ltd. The southern province attracted US$2.15 billion of foreign direct investment capital in the first 10 months of the year. — VNA/VNS Photo Thanh Vu
HCM CITY (Biz Hub) — The southern province of Dong Nai attracted US$2.15 billion of foreign direct investment (FDI) capital in the first 10 months of the year, surpassing the year's target of $900 million, according to the provincial Department of Planning and Investment.

Industrial parks in the province attracted an additional $350 million worth of FDI, according to Dong Nai Industrial Zones Authorities (DIZA).

This figure includes 11 new projects with total capital of nearly $225 million and five projects that have added capital of $126 million.

Since the beginning of this year, the province has licensed 82 new FDI projects worth more than $1.5 billion. The province also saw more than $592 million added to 75 existing projects during the period.

Recently, Taiwan-based Kenda Group received an investment certificate for its $160 million tire factory at Giang Dien Industrial Park in Trang Bom District.

Korean company Hyosung put up the largest investment capital of $660 million.

In the first 10 months of this year, FDI enterprises in the province earned a turnover of $13.9 billion, a rise of 5 per cent compared to the corresponding period last year.

FDI businesses reported total export turnover of $7.5 billion, a year-on-year increase of 6.47 per cent, according to DIZA.

Most FDI businesses have invested in the fields of production, processing, manufacturing and in projects with advanced technologies.

Most foreign investors have applied environmentally friendly technology in accordance with the province's long-term planning.

FDI plays a key role in the province's socio-economic development.

Last year, the province issued a list of projects that need to attract FDI, such as the support industry and processing and manufacturing projects with cutting-edge technology.

The province no longer accepts foreign projects that make paper or paper powder produced from raw materials. — VNS

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