The southern province of Dong Nai has revoked the investment licences of 78 foreign direct invested (FDI) projects, worth over 332 million USD, since 2010, according to the province’s Industrial Zones Authority.

Among them, Dong Nai stripped 51 projects of their licences for failure to make sufficient progress. Most of these were operated by investors from Asia, such as China and the Republic of Korea.

To ensure a productive investment environment, the agency conducts annual inspections to remove ill-performing investors so as to give opportunities for more capable ones.

At present, some 10 other FDI projects are under inspection for failing to start construction more than one year after receiving a licence.

Statistics show that 430 million USD has been poured into 30 new and existing projects in the province over the first quarter of 2014, up 7 projects and nearly 200 million USD from a year before.

Most of the finance came from Japanese investors and flowed into support industries.-VNA