FDI in Dong Nai hits 670 mln USD since beginning of year

A factory of the Tuong Lai Co. Ltd in Dong Nai province (Photo: VNA)

The southern province of Dong Nai granted permits on April 28 to allow six existing FDI projects to add nearly 250 million USD in registered capital.

Among these are Nestle Vietnam’s coffee production project at the Amata Industrial Park, with total investment increasing from 270 million USD to more than 400 million USD; VacPro Vietnam’s factory in the Nhon Trach I Industrial Park, rising from 7 million USD to 40 million USD; and a new branch of Suheung Vietnam, adding 30 million USD in capital to reach 80 million USD.

Foreign investors adding capital and expanding production is a positive sign and shows that they have confidence in the local business climate and are posting good earnings, deputy head of the provincial industrial park (IP) authority Le Van Danh said.

Most projects are in supporting industries and use advanced technology, he added.

Dong Nai officials present investment certificates to foreign investors on April 28 (Photo: VNA)

Dong Nai is likely to welcome more foreign investors in the time to come, said Vice Chairman of the provincial People’s Committee Nguyen Thi Hoang.

She added that the province gives priority to projects applying high technology and employing skilled workers in supporting industries and is now more selective when it comes small-scale, labour-intensive, and environmentally-unfriendly projects.

According to data from the provincial IP authority, local IPs had attracted close to 670 million USD in 58 FDI projects since the beginning of this year. They include 39 projects receiving additional investment, worth more than 420 million USD.

Dong Nai is currently home to 32 IPs. Nearly 1,400 FDI projects worth a total of 27 billion USD have so far set up camp in the province./.