Dong Nai - Destination of many major groups

09:23 | 20/10/2020
The southern province of Dong Nai has remained a magnet for FDI, with major groups from the Republic of Korea, Taiwan (China), Japan, Singapore, and China all pouring capital into the locality.
dong nai destination of many major groups
Illustrative image (Photo: baodautu.vn)

Dong Nai - The southern province of Dong Nai has remained a magnet for FDI, with major groups from the Republic of Korea, Taiwan (China), Japan, Singapore, and China all pouring capital into the locality.

According to the provincial Department of Planning and Investment, Dong Nai has attracted over 1 billion USD in FDI every year on average. As of September, it had 1,550 valid FDI projects with total registered capital of 30.8 billion USD, from 43 countries and territories. Manufacturing and processing accounted for 84 percent of all capital.

Such figures put Dong Nai among the four localities leading the country in terms of FDI attraction.

Foreign-invested projects are found in all parts of the province, primarily at industrial zones in Bien Hoa city and Long Thanh, Nhon Trach, and Trang Bom districts.

The RoK is the currently the largest foreign investor in Dong Nai, with over 6.8 billion USD, followed by Taiwan (China) with 5.4 billion USD, Japan with 4.7 billion USD, and Singapore with 3.4 billion USD.

Many groups and enterprises have invested in the province over the last 30 years, with some selecting it as their first Vietnam destination, such as Hyosung, CP, Amata, Taekwang, and Formosa.

Kawaue Junichi, Japanese Consul General in HCM City, said that, over the last four years, increasing numbers of Japanese enterprises have selected Dong Nai as their investment destination, as the locality possesses convenient transport infrastructure and methodical industrial zones with the necessary services.

Chairman of the provincial People’s Committee Cao Tien Dung said that many multinational groups and major enterprises are present in Dong Nai, with growing capital and increasing quality, contributing to creating jobs and boosting the incomes of local workers. FDI has also helped bolster the province’s economic growth.

It continually works on improving its investment climate, creating favourable conditions for enterprises, and holding regular meetings with them to help them address difficulties relating to taxes, customs, and other matters.

Foreign-invested enterprises account for 62 percent of the province’s total industrial production value, while creating 570,000 jobs and contributing handsomely to the local budget, Dung added.

He said the province continues giving priority to investment in high technology.

The southern province is targeting attracting 5-6 billion USD in FDI during the 2021-2025 period and about 6-7 billion USD during 2026-2030.

To that end, it issued a plan to realise Government Resolution No 58/NQ-CP dated April 27 on orientations to fine-tune mechanisms and policies and improve the efficiency of FDI to 2030.

The province will pay the most attention to further enhancing administrative reforms, creating favourable conditions for investors, and preparing land for industrial parks.

VNA

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