Dong Nai ranks first in FDI attraction
Dong Nai ranks first in FDI attraction
In the first four months of 2015, the southern province of Dong Nai dethroned Ho Chi Minh City in the amount of foreign direct investment attracted, with 48 projects and $916.75 million in the registered investment capital, according to the monthly report released by the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
Making up 24.6 per cent of the total $3.72 billion FDI pouring into Vietnam, Dong Nai saw $797.45 million invested in 31 new projects as well as $119.3 million in added capital to existing ones during the first four months of the year.
The Dong Nai Provincial People’s Committee has granted 1,479 investment certificates to date, worth the total value of $27.03 billion. Out of these 1,127 are currently effective, representing $22.54 billion in the registered investment capital.
On April 21, Turkey’s Hyosung Istanbul Tekstil Ltd started construction of a $600 million fibre production project named Hyosung Dong Nai Company. The installation will specialise in the processing of materials such as spandex, nylon, polyester and steel fibres used for the production of tyres.
However, within the first four months of 2015, Dong Nai withdrawn 23 projects worth $30 million. Most of these fell outside of the province’s industrial zones or were delayed projects.
Dong Nai currently has 31 industrial zones, 28 of which are operating with an average filling rate of 67 per cent. In 2015, the province is expected to attract between $900 million and $1 billion in FDI.
