Dong Nai draws $834m this year

During the period, Japanese investors poured $57.8 million into 18 new projects, accounting for 45 per cent of the total projects. They also added $30 million to existing ones in the locality.— VNA/VNS Photo

DONG NAI (Biz Hub) — The southern province of Dong Nai has seen foreign direct investments (FDI) worth over US$834 million in the past seven months, an official has said.

Director of the province's Department of Planning and Investment Bo Ngoc Thu said that as of July 18, the province had fulfilled its annual FDI target which represented a yearly increase of 17 per cent, adding that FDI disbursement during the reviewed period also saw a significant rise of 36.4 per cent to $750 million.

Deputy head of Dong Nai Industrial Zones Authority Mai Van Nhon said that these new projects were in line with the province's orientation of attracting foreign investment which prioritised high-tech, environmentally-friendly and support industries.

Thu said that it was a good sign for provincial socio-economic development that most of the FDI registered in the province in seven months came for the prioritised sector.

By the year-end, the province aimed for an additional FDI of $200 million with top priority being offered to hi-tech and support industries, she noted.

Earlier, Dong Nai Industrial Zones Authority Mai Van Nhon People's Committee Vice Chairman Tran Minh Phuc said that streamlined administrative procedures and improved infrastructure facilities had helped improve the provincial investment climate and made the locality an attractive investment destination for foreigners.

In another move, the province revoked investment licences of eight foreign-invested projects worth $86 million till July, as all the projects had been delayed for more than 12 months and failed to restart despite the authority's support.

Dong Nai is home to 1,106 valid foreign-invested projects with a total registered capital of $21 billion. — VNS