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Dong Nai leads southern localities in attracting RoK investment

Dong Nai is leading southern localities in attracting investment from the Republic of Korea (RoK).
Dong Nai leads southern localities in attracting RoK investment ảnh 1As of the beginning of November, Dong Nai was home to 426 projects with total registered capital of more than 7.2 billion USD invested by RoK businesses. (Photo: VNA)
Dong Nai (VNA) – Dong Nai is leading southern localities inattracting investment from the Republic of Korea (RoK).

As of the beginning of November, 2022, Dong Nai was home to 426 projects withtotal registered capital of more than 7.2 billion USD invested by RoK businesses,according to the province’s Department of Planning and Investment.

The RoK is also the top foreign investor in the province.

Many big corporations from the RoK have invested in production facilities inthe southern province, which is at a convenient location to supply products toother regions across Vietnam as well as for export.  Samsung, LG, Hyosung,Changshin, Taekwang, Hwaseung, CJ, Posco, Hansol Technics, Intops are among thosebig names.

Hyosung has invested over 1.82 billion USD in two projects in Dong Nai, Posco300 million USD, Changshin more than 255 million USD and Hwaseung 170 millionUSD.

Korean-invested projects have operated stably,contributed greatly to the local budget and created jobs for over 171,600workers.

A majority of RoK-invested projects are in the industrial sector, focusing onfootwear, production supporting garment-textile and footwear, electronics andmachinery.

In the first 10 monthsof this year, RoK investors pumped nearly 187 million USD in nine new projects inindustrial parks in Dong Nai. Meanwhile, 26 RoK-invested projects in theprovince added a total 118 million USD to their investment capital.
  
The Director-Generalof Hyosung Vietnam based in Nhon Trach 5 industrial park said the group’sinvestment process in Dong Nai went on smoothly with the provincial authoritiesproviding timely assistance. For this reason, the group will continue to expandits investment in the province.   

Besides the industrialsector, Dong Nai is inviting Korean investment in trade-services, logistics,housing, including social housing, and tourism, pledging to create the bestpossible conditions for investors.  

Deputy director of theDepartment of Planning and Investment Doan Thi Ngoc Van said the province isurgently working on the provincial master plan, which will be publicized alongwith local planning for important areas such as Bien Hoa and Long Khanh cities,and Long Thanh and Nhon Trach districts.

A list of projects invitinginvestment in the form of auction and bidding will be published, she said.

Dong Nai leads southern localities in attracting RoK investment ảnh 2Illustrative image (Photo: VNA)
Dong Nai is continuing to allocate public investment capital to a series of keytransport projects, including the Ben Luc-Long Thanh, Dau Giay-Phan Thiet, DauGiay-Da Lat and Bien Hoa-Vung Tau expressways, belt ways No. 3 and 4, and theextension to Bien Hoa of the Ben Thanh-Suoi Tien metro line. When thosetransport routes are completed, Dong Nai will be among localities with the mostcomplete land transport network in the country.  

Vice Chaiwoman of theprovincial People’s Committee Nguyen Thi Hoang said Dong Nai aims to attractbetween 5 – 6 billion USD in the period from 2021-2025.  She stressed that Dong Nai hopes Koreanbusinesses will invest in hi-tech and clean tech production in the province.  

Dong Nai has planned six more industrial parks and is calling for investmentfrom the RoK in IP infrastructure and services.

Besides, the province is also inviting domestic and international investors forsix projects in eco-tourism.

Dong Nai has attracted 1.1 billion USD into nearly140 foreign direct investment projects since the start of this year, accordingto the Industrial Zones Authority of the southern province (DIZA).

Of the sum, more than 736 million USD waschanneled into 93 existing projects while the rest into new ones.

Dong Nai is currently home to nearly 1,500valid FDI projects worth 32 billion USD in total by investors from 45 countriesand territories. The largest investors are the Republic of Korea, Taiwan(China), and Japan./.
VNA
#Dong Nai #Republic of Korea #investment #Department of Planning and Investment #Vietnam #Vietnamplus #Vietnam News Agency Dong Nai
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