Dong Nai looks to attract more US investment

06:00 | 07/12/2021 Society

The US has 27 projects worth US$269 million plus in Dong Nai and the southern province is looking forward to greater American interest in the coming time.

Dong Nai Chairman Cao Tien Dung also told US Acting Consul General Robert Greenan that not only does the province have several investment advantages; it is also committed to smoothing the way for US investors.

Attending the meeting held early this month were representatives from the provincial departments of Foreign Affairs, Planning and Investment, Labor, Invalids and Social Affairs, Industry and Trade, the Dong Nai Industrial Parks Management Board and senior officials of the Bien Hoa City People's Committee.

Chairman Dung outlined several advantages that the province presents, including its geographical location. It belongs to the dynamic southern key economic region and is adjacent to the nation’s commercial hub, Ho Chi Minh City, just an hour away from its downtown area.

Dong Nai expects to attract more US investors to the province in the coming years

The province has recorded high, stable economic growth in recent years, averaging 8 percent per year over the last several years. In terms of attracting foreign investment, Dong Nai is one of the leading industrial development provinces of Vietnam. It has 32 industrial parks covering an area of over 10,000 hectares; of which 31 industrial parks are operating and one (Long Thanh Hi-tech Industrial Park) is in the preparatory stage of infrastructure construction.

Currently, the province has 1,541 foreign investment projects from 45 countries and territories with a total registered capital of over US$32 billion. As mentioned earlier, of this, the US has 27 projects with a total investment capital of more than USD269 million.

For many years, the United States has been Dong Nai's largest export market, accounting for nearly 30 percent of total export turnover. The US is also a large import market for the province.

However, US investment in Dong Nai was still modest, Chairman Dung said, adding that he wished the US Consulate General in Ho Chi Minh City would introduce many US businesses who could invest in several areas including manufacturing, trade and logistics

Acting US Consul General Greenan thanked Dong Nai for its attention and creating favourable conditions for US businesses to operate in production and business in the province. He also appreciated the coordination and support provided to the US Agency for International Development (USAID) for implementing the Dioxin Treatment Project at Bien Hoa airport area and the Disability Support Project to be implemented in the near future.

Greenan said that in the coming time, the US Consulate General, will introduce the advantages of the province to US businesses so that they can understand the place better in order to expand operations and invest more.

He said that Dong Nai will certainly attract more US investors to the province in the coming years.

Dong Nai province has an area of 5,897.8 sq. km and a population of more than three million, accounting for 1.9 percent and 3.2 percent of the national total, respectively. The province has 11 district-level administrative units and 170 commune-level units. Bien Hoa city is its administrative center.

Huong Ngoc