Dong Nai's four-month FDI exceeds yearly target

Tuesday, May 05, 2015 15:07

A corner of Aureole Business Component & Devices in southern Dong Nai Province. — Photo

DONG NAI (Biz Hub) — The southern province of Dong Nai attracted more than US$925 million in foreign direct investment (FDI) in the first four months of 2015, $25 million higher than its yearly target.

Fibre producer Hyosung Vietnam Limited Company made a significant contribution with an investment of $660 million to develop its business in the province. This is also the country's largest FDI since early this year.

With the above investment, the province is expected to get more than $1 billion FDI this year.

Almost all FDI projects in the province have clean and environment-friendly technology, including the supporting industries, which has been encouraged by the province.

Forty nations and territories have invested in 1,479 projects in the province, with a total investment capital of more than $27 billion.

The FDI in the province has usually been the largest in the country. In 2014, the province received $1.87 billion and was among the country's top five localities with FDI. The FDI projects have created jobs for more than 470,000 workers and contributed a significant sum to the provincial budget.

To achieve success, the province specially focused on administrative reform, simplifying procedures in the granting of licences for investment and construction, and creating conditions for business development. As part of these measures, some projects were granted licences within 24 hours. — VNS

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