Dong Nai: 80% of new FDI projects in supporting industry
The supporting industry makes up approximately 80% of newly-licensed foreign direct investment (FDI) projects in southern Dong Nai province, mainly producing materials, components and machineries for garment-textile, footwear, electronics and automobile production.
According to the provincial Department of Planning and Investment, big projects are a US$660 million fibre project of Turkey’s Hyosung Istanbul Tekstil Ltd., a US$160 million tire factory of Taiwan-based Kenda Group and a US$112 million pneumatic control project of Japan-based SMC Manufacturing Vietnam Ltd.
Most of the supporting industry projects were completed in a rapid manner; several needed only 4-6 months of construction before becoming fully operational.
The expeditious growth was owed largely to recent free trade agreements which offer reduced tariff barriers.
The conclusion of the Trans-Pacific Partnership (TPP) deal is forecast to help Dong Nai lure more foreign investors.
Dozens of enterprises from Japan, Taiwan, the US, Singapore, Thailand and the UAE have visited the locality to learn about its investment policies since early this year.
Most of the supporting industry projects were completed in a rapid manner; several needed only 4-6 months of construction before becoming fully operational.
The expeditious growth was owed largely to recent free trade agreements which offer reduced tariff barriers.
The conclusion of the Trans-Pacific Partnership (TPP) deal is forecast to help Dong Nai lure more foreign investors.
Dozens of enterprises from Japan, Taiwan, the US, Singapore, Thailand and the UAE have visited the locality to learn about its investment policies since early this year.