Dong Nai attracts nearly $1.76b in FDI in 11 months
Dong Nai attracts nearly $1.76b in FDI in 11 months
The southern province of Dong Nai attracted US$1.76 billion in foreign direct investment (FDI) in the first 11 months of the year, surpassing the yearly target by 76 per cent, according to the provincial Department of Planning and Investment.
From January to November, Dong Nai licenced 109 new FDI projects worth $946 million and allowed 94 others to increase investment by an extra $821 million in total. Most projects are run by investors from the Republic of Korea, Japan and China.
According to the provincial industrial zones’ management board, licenced projects in industrial parks are diversified, suitable with local direction, focusing on supporting industries in three major fields: mechanical engineering, electronics as well as garment and footwear.
Most notable among them is the project of Hi Knit Company Limited worth $40 million. The project will manufacture knitted fabrics; printing on textile products, and producing and processing garments. Each of these three segments will produce 36,000 tonnes of products per year.
The project of Long Duc - Wonderful Sun-S Electronics Company Limited has total investment capital of $25 million. It targets the production and assembly of all kinds of electronic and electrical components.
Some other projects include KCC Company Limited worth $60 million, Saitex Fabrics Company Limited with registered capital of $57 million and Samyang EP Company Limited with $45 million.
According to the provincial Department of Planning and Investment, to date, Dong Nai Province has 1,861 FDI projects with total registered investment of $33.63 billion. Of them, 1,379 projects worth $28.5 billion are operational while 482 others totalling $5.12 billion have had their licences withdrawn. In recent years, it has prioritised projects using high-tech, skilled labourers and environmental protection.
