Workers make small motors at a factory run by the Mabuchi Motor Viet Nam Co in the southern province of Dong Nai. (Source :VNA/VNS)Dong Nai (VNA) - Foreign direct investment (FDI) registered in southern Dong Nai province hit 2.4 billion USD as of November 20, exceeding expectations and this year's target of 1.5 billion USD.
According to the province's Department of Planning and Investment, of the sum, 1.75 billion USD was for 100 newly-licensed projects while the remainder from 86 operational ones to raise their capitals. Most of the new projects were financed by investors from Japan and the Republic of Korea and were involved in the support industry in a bid to increase the support of locally-made components for the domestic manufacturers.
General Director of Osaka Fuji Vietnam Yoshiharu Kondo told Radio The Voice of Vietnam (VOV) that after surveying many localities, the company decided to invest in Dong Nai thanks to its infrastructure advantages and streamlined administrative procedures.
The company's operational plant, built at a total cost of 3 million USD in Nhon Trach 3 Industrial Zone, specialises in manufacturing machinery infrastructure and spare parts for the steel plating industry. It will also provide maintenance, repair and manufacture of industrial machinery for enterprises in Vietnam.
The director said that his company would continue to expand production and increase the capacity of the plant in 2016.
The province is now home to approximately 1,190 valid foreign-invested projects worth a combined 24 billion USD. Most of them (1,039) are located in industrial zones (IZs).
Deputy head of the province's IZs Management Board Mai Van Nhon said that the province would continue to upgrade the infrastructure of its IZs, speeding up administrative reforms and improve quality of the personnel resource as move attract more FDI.-VNA
