Illustrative image (Source: VNA)
 
Dong Nai (VNA) – The Industrial Zone Management Board of southern Dong Nai province has revoked investment permits granted to 40 FDI projects, which have been abandoned or delayed for a long time.

According to Mai Van Nhon, deputy head of the board, the revoked projects have a total investment of over 300 million USD.

Nearly 1,300 projects, worth over 25.8 billion USD, from 44 countries and territories are valid in Dong Nai.

Since the beginning of 2017, the board has been working hard to review the status of projects located the industrial zones, Nhon said, adding that investment permits of any project that exceeded the 12-month limit set for disbursement will be withdrawn.

The move indicated the determination of the province to exclude incapable investors from the industrial zones and speed up the licensed projects’ disbursement time.

Nhon added the province has given priority to projects that apply advanced technologies and use few workers and those in the support industry. It also called for more investment at district-level industrial parks.

In 2016, Dong Nai granted investment licenses to 100 FDI projects, 50 percent of which were located at rural mountainous districts, such as Dau Giay, Suoi Tre, Long Khanh and Nhon Trach 3 industrial parks.

The province is currently home to 32 industrial parks and attracts about 2 billion USD in FDI annually.-VNA