Dong Nai sees increasing FDI inflow

11:02 | 16/02/2016 Economy

The southern province of Dong Nai has welcomed US$440 million in foreign direct investment (FDI) and VND30 billion (US$1.34 million) from domestic investors so far this year, according to the province's IZs Management Board.

Dong Nai sees increasing FDI inflow

Dong Nai pays great attention to developing infrastructure to draw more investors

The figures represent positive signals for a strong influx of FDI in 2016. 

As of February, the province has lured in 1,560 FDI projects, with total registered capital of nearly US$29 billion. Most of them remain valid, according to the provincial Department of Planning and Investment. 

Numerous big international groups from Japan, the Republic of Korea, Singapore and Thailand have expanded their investments and operations in anticipation of opportunities brought by free trade agreements (FTA), particularly the Trans Pacific Partnership (TPP) deal. 

They include Hyosung, Changshin, TaekwangVina, Amata, CP Fujitsu, Formosa, VPIc, Kenda and Pouchen. 

Ly Duc Ky, Director General of the Vietnam Precision Industry Joint Stock Company at the Ho Nai IP in Trang Bom district, said up to 90 percent of the company’s products are shipped to the US, Japan and Canada, which are members of the TPP. 

The company has invested approximately US$70 million in building facilities and recruiting more than 1,000 employees to expand its operations in the GiangDien IP, Ky said. 

According to Chairman of Thailand’s Amata Group SurinPitsuwan, the group has put another US$635 million in three projects in the Long Thanh IP./.


Source: VNA