A worker at work in a foreign-invested factory in Giang Dien IZ in Dong Nai province. The province drew over 120 foreign-invested projects worth nearly US$940 million in the first nine months. — VNA/VNS Photo

The southern province of Đồng Nai drew over 120 foreign-invested projects worth nearly US$940 million in the first nine months of this year, surpassing the yearly plan by around 34 per cent, the Đồng Nai Industrial Zones Authority (DIZA) reported on October 3.

DIZA head Nguyễn Tri Phương said many Chinese firms have partially relocated their investments to Viet Nam.

During the period, the province licensed roughly 50 new FDI projects, including 17 from China with a total investment of approximately $150 million. Most of them rent spaces for operations in apparel, electronic spare parts and household appliances.

Thanks to its favourable geographical location, continuous administrative reform and infrastructure upgrade, Đồng Nai has been drawing more and more interest from foreign enterprises, Phương said.

As its available land for industrial purpose is becoming limited, he said Đồng Nai hopes that the State agencies will soon approve the development of five new industrial zones to make it easier for the province to attract large-scale, high-tech projects.

Đồng Nai is now home to 33 IZs attracting over 1,430 FDI projects from 43 countries and territories, with a total investment capital of over $29 billion. — VNS