Dong Nai draws nearly US$690mn in foreign investment

Monday, May 21, 2018 18:08

Workers at a garment-textile firm in the southern province of Dong Nai. — Photo VNA

The southern province of Dong Nai attracted nearly US$690 million in 76 newly licensed and existing foreign-invested projects up to May 17.

This marks an increase of 143 per cent against the same period last year, fulfilling nearly 70 per cent of the annual target.

Of the amount, over $346 million were poured into 42 new FDI (foreign direct investment) projects and over $343 million into 34 existing ones, according to the provincial Department of Planning and Investment.

In May alone, Dong Nai attracted several new major projects, such as the $40-million project of South Korea’s HI-KNIT company at Nhon Trach 6A industrial park, the $33-million project of the Netherlands’ Air Manufacturing Innovation Vietnam at Giang Dien industrial park, the $32-million project of Singapore’s Logistic Property Vietnam at Loc An-Binh Son industrial park and the $29.8-million project of Japan’s Kolmar Vietnam at Long Duc industrial park.

Some projects with huge amounts of additional capital include the Netherlands’ Bosh Gasoline Systems-HCP plant at Long Thanh industrial park, with an addition of over $71 million; Singapore’s OPV Pharmaceutical Joint Stock Company at Bien Hoa 2 industrial park, with over $47.7 million; Japan’s SMC Manufacturing Vietnam at Long Duc industrial park, with $47 million and Belgium’s Terumo BCT Vietnam at Long Duc industrial park with $30 million.

According to the provincial Department of Planning and Investment, the locality prioritises projects applying advanced and eco-friendly technology and requiring skilled labour as well as those in the supporting industry.

So far, Dong Nai has attracted 1,792 FDI projects, with a total registered capital of $32.5 billion, of which 1,323 projects worth $27.46 billion are still valid.

The projects have received investment from 45 countries, with South Korea, China’s Taiwan and Japan being the largest investors.

Overseas investors are interested in the fields of industry, logistics, energy and technical infrastructure.

Vice chairman of the provincial People’s Committee Tran Van Vinh said local authorities will push for administrative reforms to reduce time and expenses for businesses.

The committee and relevant units, such as customs, taxation and planning and investment, will maintain periodical dialogues with enterprises to listen to their problems and discuss measures to improve operational efficiency, Vinh said. — VNS

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