Workers put the finishing touches on rubber components at a factory in Dong Nai province (Photo: VNA) Dong Nai (VNA) - The trust of investors inthe local business climate and support from authorities for enterprises count amongthe factors that have helped southern Dong Nai province almost reach its foreigndirect investment (FDI) target for the year.
The Swiss-funded Nestle Vietnam, based at the BienHoa 2 Industrial Park, has continually increased its charter capital since openingits first factory on-site in 1995.
Most recently, in April, it added 132 millionUSD to its investment in a coffee production project at the Amata IndustrialPark in Dong Nai, bringing the total to over 400 million USD.
Carl Khoury, a manager at the company, said it hasset up four factories in Vietnam, including three in Dong Nai, and it considersthe province a key destination since it boasts industrial parks with completeinfrastructure, borders Ho Chi Minh City, the country’s southern economic hub, and is servedby highways and expressways favourable for goods transportation.
He noted that the company has developed continuallyover the last 25 years thanks in part to a sound investment climate and clearlegal procedures that match international practice, both nationally and in DongNai.
Authorities have also swiftly dealt with anyproblems facing businesses, Khoury added.
In late March, the Soheung Vietnam Co. Ltd, withinvestment from the Republic of Korea, raised its capital by 30 million USD to80 million USD to expand its factory at the Long Thanh Industrial Park in DongNai.
The company said the greatest challenge foreignbusinesses encounter when investing in a country is a lack of understanding aboutlocal practices and legal regulations.
However, it added, local agencies have helped ithandle environmental and construction-related procedures, while taxation,business registration, and insurance services have been provided online, facilitatingoperations.
Dong Nai has attracted 66 FDI projects worthover 680 million USD since the beginning of this year, while its target for theyear as a whole was around 700 million USD, according to the province’sIndustrial Zones Authority.
It is currently home to nearly 1,400 FDIprojects from 41 countries and territories with combined capital of 27 billionUSD.
Chairman of the provincial People’s CommitteeCao Tien Dung said FDI projects have contributed greatly to localsocio-economic development, and Dong Nai views foreign investment as a main developmentresource.
The province pledges to provide the bestpossible conditions to investors, he noted, adding that it prioritiseslarge-scale projects using advanced technology and skilled workers in supportingindustries.
In the time ahead, it will also boostinfrastructure development, build modern residential areas, and invest stronglyin education and healthcare, as investors come to the province not only to seekprofit but also to enjoy a good life, Dung said./.
VNA
