Illustrative image. (Photo: VNA)

Dong Nai (VNA) – The southern province of Dong Nai has drawn approximately 1.6 billion USD in foreign direct investment (FDI) as of October 23, 60 percent higher than the goal of 1 billion USD this year.

According to the provincial Department of Planning and Investment, the province has licensed 101 new FDI projects, worth a total 804 million USD, since the beginning of 2018 while 87 others have received additional funding of 790 million USD.

Among the newly-licensed are a 60-million-USD project by Singapore-based KCC Vietnam Co., Ltd and a 45-million-USD project by Samyang Vietnam Co., Ltd from the Republic of Korea at Nhon Trach 6 Industrial Park, and a 40-million-USD fabric manufacturing project by Hi Knit Co., Ltd from the RoK at Nhon Trach 6A Industrial Park.

Those with extra investment include the Bosch Gasoline Systems – HCP factory of the Netherlands at Long Thanh Industrial Park, the tyre factory by Japanese-based Kenda Rubber Industrial Co., Ltd at Giang Dien Industrial Park and the pharmaceutical project by OPV Pharmaceutical JSC from Singapore at Bien Hoa II Industrial Park, which got an additional 71 million USD, 56 million USD and 47.7 million USD, respectively.

Most of the projects are in supporting industries that are environmentally friendly with high technology.

Dong Nai has so far licensed 1,853 FDI projects with total registered investment of 33.4 billion USD, of which, 1,371 projects worth 28.3 billion USD are operational while the others had their licences withdrawn.

Topping the list of investors are those from the Republic of Korea, Taiwan (China) and Japan.

In 2017, the province attracted more than 1.3 billion USD in FDI, with the Republic of Korea the largest foreign investor. In recent years, it has prioritised environmentally friendly projects using high-technology and skilled labourers. –VNA