Nearly US$1.3 billion in foreign direct investment (FDI) landed in the southern province of Dong Nai in the first nine months of 2018, surpassing the yearly target by 30 per cent, according to the provincial Department of Planning and Investment.

From January to September, Dong Nai licenced 81 new FDI projects worth $605 million and allowed 77 others to add an extra $694 million.

Most of the new projects are in supporting industries that are environmentally friendly with high technology.

Most notable among them are the $60 million project by Singapore-based KCC Vietnam Co., Ltd at Nhon Trach 6 Industrial Park (IP), the $40 million fabric manufacturing project by HI KNIT Co., Ltd from the Republic of Korea at Nhon Trach 6A IP, and the $33 million footwear project by Air Manufacturing Innovation Vietnam from the Netherlands at Giang Dien IP.

Those with additional investments included Bosch Gasoline Systems – HCP factory from the Netherlands at Long Thanh IP, the tyre factory by Taiwan-based Kenda Rubber Industrial Co., Ltd at Giang Dien IP and the pharmaceutical project by OPV Pharmaceutical JSC from Singapore at Bien Hoa II IP which got an additional $71 million, $56 million and $47.7 million, respectively.

The province is far home to 1,833 FDI projects with total registered investment of $33.1 billion. Of them, 1,354 projects worth $28.05 billion are operational while 479 others have had their licences withdrawn.

Most of the projects are run by investors from the Republic of Korea, Taiwan (China) and Japan.

In 2017, Dong Nai attracted more than $1.3 billion in FDI, with the Republic of Korea the largest foreign investors. In recent years, it has prioritised projects using high-tech, skilled labourers and that are environmentally friendly. — VNS