Dong Nai: FDI disbursement meets annual target

Disbursement of foreign direct investment (FDI) this year in the southern province of Dong Nai has reached US$1 billion, meeting the target set for the whole year.

dong nai: fdi disbursement meets annual target hinh 0

However, according to the provincial Department of Planning and Investment, the figure represents only 80% of the previous year’s amount, which exceeded US$1.2 billion.

Deputy Director of the department Phan Minh Thanh said the province has lured nearly US$1.9 billion in 2016 and disbursed over half of the total registered capital.

The majority of disbursed FDI capital comes from projects invested by Japan, Taiwan (China), the Republic of Korea and focuses on the manufacturing, processing and electronic industries, Thanh added. 

This year’s FDI disbursement was lower than 2015 because many new projects have their registered capital ranging between US$50 – 100 million. They are developing infrastructure, recruiting workers and allocating capital, therefore, their disbursement hasn’t been completed.

Besides, Asian investors from the RoK and Japan often disburse after the traditional Tet (Lunar New Year) holidays, according to Thanh.

Over the past years, Dong Nai has reviewed its FDI projects to ensure effective implementation.

In the coming years, more FDI enterprises will come into operation and recruit more labourers, particularly technicians, Thanh said.

Dong Nai has lured a large number of FDI projects partly thanks to its position in the southern key economic region and convenient transport network.

VNA

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