Dong Nai province is one of the top southern provinces attracting domestic and foreign investment in port and hotel projects and is becoming a major investment destination, according to the Ministry of Planning and Investment.

The province has so far this year licensed six investment projects worth 1.3 billion USD ranking it fourth for domestic and foreign investment after Ba Ria-Vung Tau, Binh Duong and Ho Chi Minh City .

Major investment projects include Phuoc An Port in Nhon Trach district. It is invested by the PetroVietnam Group, Bien Hoa Industrial Park Development Company and Tin Nghia Company.

The 1.1 billion USD project is expected to increase the port’s capacity to 9 million tonnes a year and make it capable of accommodating 30,000 - 60,000 tonne vessels.

PetroVietnam’s Deputy Director General Vu Quang Nam said the group’s other projects in Dong Nai include Nhon Trach Power Plants 1 and 2, adding the group would invest in other projects in the province in coming years.
A Sai Gon New Port Company project, named the ICD Tan Cang – Long Binh in Bien Hoa town, has an investment capital of 11 million USD. It aims to turn Dong Nai into a centre for transport and logistics services.

The Park Hyatt Vietnam Hotel complex includes a five-star hotel and a residential building in Bien Hoa with a total investment capital of 50 million USD.

Dong Nai provincial authorities also granted investment certificates to Thai TOP Solvent company, which specialises in producing and processing solvents and other chemicals in Go Dau Industrial Park in Long Thanh district. It’s worth 440 million USD.

The two remaining projects are a 65 million USD aluminum, steel and alloyed metal production joint venture between the Vietnam Steel Corporation, Malaysia’s Federal Works Iron Company and Japan’s Sumitomo and a project by Marxxist Holding from Virgin Islands which was allowed to adjust its capital from 81 million USD to 145 million USD to produce inner tubes and tyres and other rubber products.

In addition, the province in the last time months attracted 766 million USD in new investment projects and additional capital registered by existing projects.

Investment officials said Dong Nai was well on track to reach its 2 billion USD target in foreign direct investment this year./.