Dong Nai attracts US$600 million in FDI
(VOV) - In the five months leading up to June 1, southern Dong Nai province has garnered US$588.2 million in foreign direct investment (FDI), according to the provincial Department of Planning and Investment.
The Department reported that newly committed FDI for 28 new projects amounted to nearly US$248 million while supplemental capital for 25 existing projects tallied in at more than US$340 million.
FDI capital for the five-month period equates to 140% of that for the same period last year and amounts to 70% of this year’s plan
The investment license for a single US$4.3 million FDI project was revoked due to slow implementation during the period.
In total, 1,424 FDI projects with cumulative committed capital of US$24.965 billion have been granted licences in the province.
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Mai Van Nhon, Vice Director of the management board of Dong Nai industrial parks, said the province is working with relevant departments and agencies to conduct trade and investment promotion programmes in the US and he fully expects FDI to continue its upward trend for the remainder of 2014.
The delegation has plans to work with the US Walmart Corporation through the American Chamber of Commerce (AmCham) and to seek US investment in the retail industry, supermarkets and material production zones to serve the local garment and footwear sectors.