By mid-November, the southern province of Dong Nai recorded total foreign direct investments (FDI) of 1.5 billion USD, surpassing the annual target for 2014 by 600 million USD, according to Bo Ngoc Thu, Director of the provincial Department of Planning and Investment.

This year, 73 new FDI projects were registered, valued at 587 million USD, while over 977 million USD were added to the capital of 75 existing projects. Most of the projects are in the high-tech and support industry sectors.

Dong Nai has so far revoked the licences of 11 projects, worth nearly 95.5 million USD.

Director Thu said the results were attributable to the province’s sound investment climate, effective long-term promotion programmes and improved administrative procedures.

The volume of foreign-funded investment is expected to hit 1.6 billion USD by the end of 2014, a year-on-year increase of 23 percent.

The southern provinces of Dong Nai and Binh Duong, together with Ho Chi Minh City, are amongst the most attractive FDI destinations in Vietnam.-VNA