Business

Dong Nai attracts 2.4 bln USD in FDI capital in 11 months

The southern province of Dong Nai attracted nearly 2.4 billion USD of foreign direct investment (FDI) as of November 20, exceeding the yearly target by 1.5 billion USD.
Dong Nai attracts 2.4 bln USD in FDI capital in 11 months ảnh 1Illustrative photo (Source: VNA)

Dong Nai (VNA) – The southern province of Dong Nai attracted nearly 2.4 billion USD of foreign direct investment (FDI) as of November 20, exceeding the yearly target by 1.5 billion USD, according to the province’s Department of Planning and Investment.

The amount includes 1.75 billion USD from 100 new projects and more than 618 million USD added to 86 operational ones.

Most of the new projects come from Japan and the Republic of Korea (RoK) and have advanced and environmentally-friendly technologies.

Many of them operate in the support industry in a bid to increase the supply of locally-made components for the domestic manufacturers.

Chairman of the provincial People’s Committee Dinh Quoc Thai highlighted the effective operation and the expansion of foreign invested projects, including those run by Formosa, Hyosung, Changshin, Pouchen, CP, Mabuchi Motor, Fujitsu, Kenda, and TaeKwang.

According to Chairman of the Japanese Fujitsu Group Masami Yamamoto, the group has almost tripled its investment in the province, from an initial 78 million USD to 200 million USD, in anticipation of opportunities to be brought by the establishment of the ASEAN Economic Community.

Officials from the consulates general of Japan, the RoK, Thailand, Italy and Singapore in southern Vietnam said Dong Nai is one of the attractive destinations for investment thanks to its developed infrastructure, especially with the to-be-built Long Thanh international airport.

As of now, Dong Nai has licensed 1,556 FDI licenced projects, worth a total of nearly 28.4 billion USD.

Of which 1,189 projects are still valid with a combined capital of nearly 24 billion USD, most of them (1,039) are locate d in industrial parks.-VNA

VNA
#Dong Nai #FDI #domestic manufacturers #Long Thanh international airport Dong Nai
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