Dong Nai targets FDI attraction across fields

Dong Nai (VNA) - The southern province of Dong Nai has so far attracted 1,378 foreign-invested projects with total registered capital of 28.5 billion USD, according to the provincial People’s Committee.

Tran Van Vinh, Vice Chairman of the provincial People’s Committee said the locality has made every effort to lure foreign direct investment (FDI), contributing to its socio-economic development.

As much as 20.5 billion USD of FDI has been disbursed so far, 70.3 percent of total registered capital.

To date, Dong Nai has lured FDI projects from 45 countries and territories, of which the Republic of Korea, Taiwan (China), and Japan and Singapore are the leading investors, respectively accounting for 20.7 percent, 16.5 percent, 15.4 percent and 12.3 percent of investment poured into the locality.

Vinh said FDI projects mainly focus on industry, manufacturing and processing (84 percent of total projects); real estate (12 percent); trade and services (3.5 percent); and agriculture (1.5 percent).

FDI has become an important resource for the locality’s development, contributing to boosting its economic growth and accelerating economic restructuring.

Vinh said through developing industrial parks (IP), Dong Nai has witnessed breakthrough development in industry, with industrial production scale increasing by 200 times compared to 1985.

Industrial development has helped promote other sectors in the locality. Dong Nai’s GRDP has expanded by an average 12 percent annually.

The province’s economy structure has changed rapidly in the direction of smaller proportion of agriculture and higher proportion of industry and services. Per capita income has increased by more than 16 times, exceeding 4,000 USD per annum.

FDI enterprises have made great contributions to the locality’s budget, hitting 27 trillion VND in 2018, 57 percent of total budget collection.

Foreign investment has also helped promote the infrastructure development in Dong Nai. Many key transport projects have been implemented in the locality, including Ho Chi Minh - Dau Giay, Ben Luc - Long Thanh and Dau Giay - Phan Thiet expressways and gateway transport routes in the southern key economic area.

Through FDI enterprises, local authorities have set up closer relations with international organisations. The FDI sector has generated jobs for more than 600,000 labourers, contributing to poverty reduction in the locality.

According to Mai Van Nhon, Vice Director of the Management Board of IPs in Dong Nai, the locality will continue to prioritise high-tech and environmentally friendly FDI projects and those in support industry.

Vinh said Dong Nai will continue to build modern technical infrastructure systems and call for FDI projects with high added value and those in urban development and services.-VNA