Dong Nai province’s foreign investment surges by 34%

17:59 | 01/09/2024FDIFollow Ven.vn on
The southern province of Dong Nai attracted nearly 1 billion USD worth of foreign investment as of August 20, up 34% year-on-year, according to the provincial Department of Planning and Investment.
Of that, over 640 million USD was contributed by 61 newly foreign-invested projects, while the remainder of nearly 449 million USD was by 74 capital-added ones, the department said, adding that most of these projects headed into the industrial parks.
Workers of a foreign-invested firm in Giang Dien Industrial Park in Dong Nai province (Photo: VNA)

The department's director Nguyen Huu Nguyen said new projects came from countries and territories such as the Republic of Korea, Taiwan (China), Japan and Singapore.

Nguyen said Dong Nai province will continue to remove obstacles in attracting foreign investment to create a favourable environment for businesses.

In addition, it will publicly list projects calling for investment and foster investment promotion activities to potential markets to find investors that can meet the criteria set by the province, Nguyen told baodongnai.com.vn.

To date, the province is home to more than 1,600 foreign-invested projects, valued at 35 billion USD.

The online newspaper cited Pham Duc Thang, Managing Director of Cargill Animal Nutrition Thailand and Vietnam, as saying that that Dong Nai is the first investment destination of the group in Vietnam. After successfully investing in the locality, the group has expanded nationwide.

Over the past 30 years of investing in Dong Nai, the group has received support from the province in resolving difficulties and obstacles in production and business and Cargill has continuously increased its investment capital in the province

Vice Chairwoman of the provincial People's Committee Nguyen Thi Hoang said that to facilitate foreign investment attraction, the province has established a working group, headed by the committee’s leader.

The working group is tasked with promoting the establishment of new industrial parks to promptly supplement the province's industrial land fund, Hoang told the online newspaper.

Dong Nai currently has 33 established industrial parks covering a total area of over 10,500ha. Of these, 32 are already operational, with nearly 2,100 companies already working in these IPs.

Source: VNA
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