Foreign direct investment (FDI) into southern Dong Nai province has hit 2.15 billion USD as by mid-October, exceeding expectations and this year’s target of 900 million USD.
Foreign direct investment (FDI) into southern Dong Nai province has hit 2.15 billion USD as by mid-October, exceeding expectations and this year’s target of 900 million USD.
The Dong Nai Industrial Zones Authority (DIZA) reported that local industrial zones have lured over 350 million USD of FDI in October, including nearly 225 million USD invested in 11 new projects and over 126 million USD in five existing ones.
The 31 industrial zones in Dong Nai have attracted 82 new FDI projects with a total registered capital of more than 1.5 billion USD so far this year. Meanwhile, 75 FDI companies have added more than 592 million USD to their existing projects.
Most of the FDI capital this year went to production, processing, manufacturing and hi-tech projects. Notably, the Republic of Korea’s Hyosung Corporation earmarked 660 million USD for a hi-tech fibre production project in the locality.
The DIZA highlighted positive performance of locally-based FDI firms which gained more than 13.9 billion USD in revenues since the outset of 2015, a year-on-year increase of around 5 percent.
The authority noted that Dong Nai, located in the southern key economic region, considers FDI as a big growth engine but does not want to attract it at all costs.
It added in mid-2014, the province publicised a list of industries prioritised for FDI attraction, including support, processing and manufacturing projects using high technologies, and another list of industries that temporarily do not need investments, such as paper and paper pulp production.-VNA
Prime Minister Nguyen Tan Dung urged the southern province of Dong Nai to act on its potential, advantages and achievements to serve rapid and sustainable development.
The supporting industry makes up approximately 80 percent of newly-licensed FDI projects in southern Dong Nai province, said the provincial Department of Planning and Investment.
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Illustrative image (Photo: VNA)
