Dong Nai hopes to attract FDI by improving investment climate

Dong Nai (VNA) - Attracting foreign direct investment (FDI) is a key aspect of the southern province of Dong Nai's socio-economic development strategy for 2020-2025, according to the provincial People’s Committee.

A preferred destination for foreign investors in the south-eastern region, the province has taken a number of concrete measures to attract them, with priority given to projects that involve high technology, are environmental-friendly and less labour-intensive and to manufacture competitive products.

The province would speed up investment to improve its infrastructure system, skill its workforce and modernise technology besides strengthening administrative reform to increase its competitiveness as an investment destination, said Cao Tien Dung, Chairman of the People’s Committee.

The province offers favourable conditions and end-to-end support to investors to ensure their success, he said.

It has sped up administrative reform to streamline processing investment procedures, he said.

Better co-ordination among official agencies also helps investors address issues related to administrative procedures.

New industrial parks are planned to be built in Xuan Loc, Dinh Quan, Vinh Cuu, Thong Nhat, and Tan Phu districts and Long Khanh town, he said. 

Many large companies are expected to invest in the province, he added.  

Tran Duc Toan, a senior law department employee at Ajinomoto Vietnam at Bien Hoa 1 Industrial Park, said the province has done exceedingly well in administrative reform, thus creating a good investment climate for enterprises to invest in and operate.

Investment registration procedures have been simplified with the processing time reduced from one or two days to just one or two hours, he added.

Somhatai Paichewa, general director of industrial park developer Amata Vietnam, said her company is quickly creating infrastructure for the Long Thanh High-tech Industrial Park to attract tech companies.

Many foreign tech companies plan to lease land and set up factories in the park, she said. 

Do Thi Thu Hang, chairwoman of Sonadezi Corporation, said her company targets sustainable industrial development while protecting the environment by using renewable and clean energy.

It prioritises enterprises in high-tech and clean energy industries with high added-value, she said.

It is now focusing on improving infrastructure at industrial parks and the quality of products and services, she said.

So far the province has 1,523 FDI projects with more than 31 billion USD in registered capital.

Of them, more than 1,350 worth a total of 26.5 billion USD are in industrial parks.

Of 47 countries and territories investing in the province, Taiwan, the Republic of Korea, Japan, ASEAN member countries, Europe, and America are the leading investors./.