Foreign firms pour almost 1 billion USD in Dong Nai

08:51 | 02/06/2015 Economy

From the beginning of 2015 to May 20, southern Dong Nai province recorded more than 998 million USD worth of foreign direct investment.

Foreign firms pour almost 1 billion USD in Dong Nai

Illustrative image (Source: VNA)

Accordingly, there were 37 new projects valued at more than 812 million USD and 31 existing projects gaining additional funds. Most of them are built inside industrial parks.

Future incentives from the upcoming formation of ASEAN Economic Community and sinning of free trade agreements like the Trans-Pacific Partnership (TPP) have stimulated the flow of overseas capital, revealed Bo Ngoc Thu, Director of the provincial Department of Planning and Investment.

Long Thanh international airport, which will soon be constructed in the locality, also contributes to the FDI stimulus, she said.

This year, businesses from Japan, Singapore, the US and the United Arab Emirates (UAE), among others have come to Dong Nai to seek investment opportunities in the sectors of industry, services, agriculture, real estate and tourism.

The province has been in favour with those enterprises thanks to its preferential policies, convenient transportation, and well-organised industrial zones with completed infrastructure.

Director of the Bureau of Economy, Trade and Industry of Japan's Kansai region Seki Soichiro unveiled that ten companies from his hometown have so far operated effectively at Dong Nai’s Long Duc industrial park.

According to Soichiro, local rapid registration and licensing procedures make more Japanese firms have investment plans in the provincial support industry in the coming time.

Edward Kowalewski, Director of the New York State International Trade Programs, shared that raring to grab a pie of the improved market once the TPP is signed, New York enterprises have shown interest in Dong Nai’s potential for the development of industry, agriculture and services. Some even made contact with local business organisations for cooperation and direct export from the US, he added.

In a recent meeting with the provincial authorities, Sultan Ali Rashed Lootah, General Director of the UAE’s Vault Investment Fund, noted his country wants to invest in some facilities in the Long Thanh international airport project.

Source VNA