The southern province of Dong Nai is looking to draw nearly 2.4 billion USD in manufacturing engineering by 2025, according to Director of the provincial Department of Industry and Trade Le Van Danh.
Under a recently-adopted development master plan for the sector until 2020, with a vision to 2025, Dong Nai will prioritise highly-competitive industries, such as electrical appliances, boilers and farming machinery. Simultaneously, it will also ramp up its support industry to increase the local content of domestically-made machines and equipment.
The plan also sets out a raft of incentives to lure more investment into the sector.
The mechanical engineering sector in Dong Nai has so far drawn 319 investment projects, in which 270 projects worth over 3.2 billion USD were invested by foreign companies, accounting for 22.2 percent of the total foreign direct investment inflow into the province.
Domestic enterprises poured more than 5.6 trillion VND (266 million USD) into 49 projects, leading investment in other sectors.
Mechanical engineering posted an export value of 1.2 billion USD in 2013, accounting for more than 40 percent of the province’s export earnings, while its production value made up over 20 percent of Dong Nai’s factory activity.-VNA
Under a recently-adopted development master plan for the sector until 2020, with a vision to 2025, Dong Nai will prioritise highly-competitive industries, such as electrical appliances, boilers and farming machinery. Simultaneously, it will also ramp up its support industry to increase the local content of domestically-made machines and equipment.
The plan also sets out a raft of incentives to lure more investment into the sector.
The mechanical engineering sector in Dong Nai has so far drawn 319 investment projects, in which 270 projects worth over 3.2 billion USD were invested by foreign companies, accounting for 22.2 percent of the total foreign direct investment inflow into the province.
Domestic enterprises poured more than 5.6 trillion VND (266 million USD) into 49 projects, leading investment in other sectors.
Mechanical engineering posted an export value of 1.2 billion USD in 2013, accounting for more than 40 percent of the province’s export earnings, while its production value made up over 20 percent of Dong Nai’s factory activity.-VNA
