The southern province of Dong Nai recorded 1.2 billion USD in foreign direct investment (FDI) during the first nine months of 2014, exceeding its target by 49 percent.

The amount represented a 30 percent increase compared to the same period last year.

During this period, Dong Nai licensed 59 new FDI projects worth 421 million USD, while 58 existing projects added a combined 770 million USD to their capital.

Positive signs were also seen in the disbursement of 875 million USD in FDI, a 23 percent increase year on year, making up nearly 90 percent of this year’s target.

Overall, the province is now home to 1,116 valid FDI projects with a total 21 billion USD in capital.

According to Bo Ngoc Thu, Director of the province’s Department of Planning and Investment, the results were attributable to enhanced official procedures and promotional campaigns.

The province is attracting numerous market survey visits from investors all over the world, especially from Japan, the Republic of Korea and Taiwan, she added.

The provincial management board of industrial parks is asking the local and central governments for more favourable policies to boost FDI in its support industries.-VNA