Dong Nai attracts nearly US$1.3 billion in FDI in nine months
Nearly US$1.3 billion in foreign direct investment (FDI) landed in the southern province of Dong Nai in the first nine months of 2018, 30% surpassing the yearly target, according to the provincial Department of Planning and Investment.
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Most of the new projects are in supporting industries that are environmentally friendly with high technology.
Most notable among them are the US$60-million project by Singapore-based KCC Vietnam Co., Ltd at Nhon Trach 6 Industrial Park (IP), the US$40-million fabric manufacturing project by HI KNIT Co., Ltd from the Republic of Korea at Nhon Trach 6A IP, and the 33-million-USD footwear project by Air Manufacturing Innovation Vietnam from the Netherlands at Giang Dien IP.
Those with additional investments included Bosch Gasoline Systems – HCP factory from the Netherlands at Long Thanh IP, the tyre factory by Taiwan-based Kenda Rubber Industrial Co., Ltd at Giang Dien IP and the pharmaceutical project by OPV Pharmaceutical JSC from Singapore at Bien Hoa II IP which got additional US$71 million, US$56 million and US$47.7 million, respectively.
The province is so far home to 1,833 FDI projects with a total registered investment of US$33.1 billion. Of them, 1,354 projects worth US$28.05 billion are operational while 479 others have had their licenses withdrawn.
Most of the projects are run by investors from the Republic of Korea, Taiwan (China) and Japan.
In 2017, Dong Nai attracted over US$1.3 billion in FDI with the Republic of Korea being the largest foreign investors. In recent years, it has given priority to the projects using hi-tech, skilled labourers and environment-friendly.