FDI in Dong Nai Soars
Dec. 19 – Vietnam’s southern province of Dong Nai attracted more than US$1.6 billion in foreign direct investment (FDI) in 2013, making it one of the country’s fastest growing localities.
On Sunday, Dong Nai’s provincial Department of Planning and Investment (DPI) reported that US$843 million had been invested in 78 planned projects and US$773 million had been added to 73 projects currently under operation.
Soaring FDI in Dong Nai stems primarily from 60 new projects approved this year in a number of key industries.
Foreign investment in the province was primarily in the hi-tech and support industries, accounting for roughly 80 percent of the new investment, while several projects using backwater technology with the potential to contribute to environmental pollution were denied licenses.
Dong Nai’s 2013 investments bring the total number of foreign-invested projects operating in the country to 1,380, with a total capital of nearly US$24.32 billion.
Of the countries currently investing in the province, companies based in Taiwan, the Republic of Korea, and Japan hold the largest stake in the newly-initiated projects.
The Netherlands also made substantial investments valued at US$298.9 million.
Dong Nai DPI Director Bo Ngoc Thu noted “the strong increase in investment capital has resulted from provincial efforts to promote administrative reform and perfect its ‘one-stop’ policy, which creates more favorable investment conditions.”
He also noted that Dong Nai was actively seeking investment in areas aside from the hi-tech industry, in mechanical engineering, electronics, new materials, agricultural machinery, engines, accessories and parts for vehicles, packaging, medicine and environmental protection.
In recent years, Dong Nai has made significant progress in upgrading its transportation infrastructure – especially roads.
In July, the province announced the approval of a public-private partnership deal to create a new expressway project that will link Dong Nai with Phan Thiet.
The six-lane road is scheduled to be operational by 2020, will cost US$745 million to build, and will run 128 kilometers.
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