Dong Nai: selected FDI proves efficient

Dong Nai is now home to 30 industrial parks, the most in Vietnam. Many of them have no vacancies. Last year, the province aimed to attract US$1 billion worth of FDI but it had exceeded its target by 25%. Disbursement reached a record high of US$1.1 billion, 88% of the registered capital.

Woosung Vietnam, a Korean animal feeds processor, chose Bau Xeo Industrial Park in Trang Bom District for investment. Recently it invested an additional US$2 million, raising its total investment in Dong Nai to US$18.6 million. The company’s leaders praised the province’s favorable conditions like land lease terms, local incentives, and the potential market.

Woosung Director General Kim Seung Hee, said “When we began operating, the government has helped us very much, for example, in the exemption of corporate tax for some years. The land lease price is very cheap. We think it’s very good investment environment.”

In recent years, Dong Nai has prioritized FDI projects that use hi-tech and skilled workers, and are environment-friendly.

Despite stricter conditions for investment projects, FDI capital has increased, proving that Dong Nai continues to be attractive to foreign investors. Kadowaki Keiichi, President of the Japanese Business Association in HCMC, said that 200 investment projects by Japanese enterprises reflects the potential of Dong Nai’s investment environment. He says regular dialogues between provincial authorities and businesses should be promoted.

The selection of FDI projects has, in fact, for years followed the global trend towards safe, environment-friendly production.

Mai Van Nhon, deputy head of the Dong Nai Industrial Zone Management Board, said “The Prime Minister made an impressive statement at a recent Business Forum: each coin invested by investors is a vote for Vietnam’s facilitating government. It’s the case in Dong Nai. We think when investors pour their money into the province, they must have a strong belief in our working method and support for enterprises.”