FDI in Dong Nai hits US$670 mln since beginning of year

Among these are Nestle Vietnam’s coffee production project at the Amata Industrial Park, with total investment increasing from US$270 million to more than US$400 million; VacPro Vietnam’s factory in the Nhon Trach I Industrial Park, rising from US$7 million to US$40 million; and a new branch of Suheung Vietnam, adding US$30 million in capital to reach US$80 million.

Foreign investors adding capital and expanding production is a positive sign and shows that they have confidence in the local business climate and are posting good earnings, deputy head of the provincial industrial park (IP) authority Le Van Danh said.

Most projects are in supporting industries and use advanced technology, he added.

Dong Nai is likely to welcome more foreign investors in the time to come, said Vice Chairman of the provincial People’s Committee Nguyen Thi Hoang.

She added that the province gives priority to projects applying high technology and employing skilled workers in supporting industries and is now more selective when it comes small-scale, labour-intensive, and environmentally-unfriendly projects.

According to data from the provincial IP authority, local IPs had attracted close to US$670 million in 58 FDI projects since the beginning of this year. They include 39 projects receiving additional investment, worth more than US$420 million.

Dong Nai is currently home to 32 IPs. Nearly 1,400 FDI projects worth a total of US$27 billion have so far set up camp in the province.