Dong Nai IPs attract $226m FDI in new year

Monday, Jan 18, 2021 08:11

Workers at a factory in Dong Nai Province. — VNA/VNS Photo

Industrial parks in the south-eastern province of Dong Nai attracted foreign direct investment of more than US$226 million in 11 projects in the first 10 days of the new year, according to the provincial Industrial Zones Authority.

Three new projects accounted for $190 million with the other eight being existing projects that added $36 million to their investment.

The FDI investment in the province’s IPs hit a record high in the past five years in the first days of the year, the authority announced.

All the investors are committed to bringing in the money this quarter and getting their projects on stream by the end of this year or next year.

The largest investment include $100 million by South Korea’s Hansol Electronics at the Ho Nai Industrial Park to manufacture and assemble liquid crystal display (LCD) modules and assemble printed circuit boards.

Another large project, worth $60 million, is for manufacturing high-quality packaging by Japan’s Ojitex at the Loc An - Binh Son Industrial Park.

The two investors had other projects in Viet Nam and invested in the new ones to expand production, Pham Van Cuong, deputy head of the authority, said.

Foreign investors’ confidence in the country’s business climate and province’s investment and business environment were the reasons for the big FDI inflows, he said.

The province also offered investors comprehensive support in completing investment procedures, he said.

Cao Tien Dung, chairman of the province People’s Committee, said industrial development and FDI attraction would be given priority for the next five years.

The average occupancy rate in the 32 operational industrial parks (IPs) in the province is more than 80 per cent.

Three new IPs with a combined area of 6,500 hectares are planned in Long Thanh and Cam My districts.

Construction of the Long Thanh International Airport and a series of expressways such as Ben Luc – Long Thanh, Dau Giay – Phan Thiet, Dau Giay – Lien Khuong, and Bien Hoa – Vung Tau will enhance the province’s competitiveness in the eyes of foreign investors.

It hopes to attract $700 million worth foreign investment this year besides VND2 trillion ($86.3 million) in domestic investment.

Despite the COVID-19 outbreak, the province exceeded its target for investment attraction last year with more than $402.2 million in FDI and VND2.3 trillion ($99.2 million) from domestic investors. — VNS

Comments (0)