Dong Nai’s nine-month FDI exceeds yearly target

09:48 | 06/10/2015 Economy

The southern province of Dong Nai attracted an estimated US$1.83 billion in foreign direct investment (FDI) in the first nine months of 2015, up 54% against the same period last year and surpassing the yearly target by 83%.

Dong Nai’s nine-month FDI exceeds yearly target

According to the provincial Department of Planning and Investment, there were 78 new projects with a total registered capital of US$1.35 billion while US$483 million was added to 77 existing projects in the period. The projects were mainly being carried out at industrial zones by Asian firms. 

The locality has so far attracted a combined 1,535 projects worth approximately US$28 billion. 

Many enterprises from the US, India, Taiwan (China), the Republic of Korea, Japan, Thailand and Singapore have visited Dong Nai to study its infrastructure, policies and mechanisms serving their investment plans. 

Vice Chair of the Chamber of Commerce and Industry of Japan’s Nagoya prefecture Hiroyasu Naito said that Dong Nai is one of the provinces attracting Japanese investments thanks to its convenient transport and simple administrative procedures. 

Mai Van Nhon, Deputy Head of the province’s industrial zone management board, said most FDI projects in the province have produced positive results. 

From January-September, foreign-invested businesses in the locality earned US$12.9 billion in total revenues, a year-on-year rise of 7.5%, and contributed around US$445 million in taxes to the State budget, up 3.5%./.

Source: VNA