FIEs pour over $2.5 billion into Dong Nai industrial zones in Q1
FIEs pour over $2.5 billion into Dong Nai industrial zones in Q1
Foreign-invested enterprises (FIEs) have poured more than $2.5 billion into Dong Nai industrial zones (IZs) in the first quarter, an increase of nearly $100 million over the same period last year.
Foreign investors pour over $2.5 billion into Dong Nai's industrial zones in Q1
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According to Dong Nai Industrial Zones Management Authority, FIEs use the capital to buy machinery and raw materials to increase the capacity of their factories, manufacturing products for local and foreign markets. Also, FIEs have achieved over $5.7 billion in total revenue, up 12 per year against the same period last year. Thanks to the positive results, FIEs continue to expand production and sales.
Some major investments in the locality include a $100 million facility by Hansol Electronics Vietnam Co., Ltd., specialising in assembling liquid-crystal display (LCD) modules and electronic circuits at Ho Nai Industrial Park in Trang Bom district, and a $60 million project by Ojitex (Vietnam) Co., Ltd. (Japan) manufacturing high-quality packaging at Loc An-Binh Son Industrial Park in Long Thanh district.
Another investment is a $30 million project by Platel Vina Co., Ltd. (South Korea) to produce plastic covers for electronic equipment and electric/electronic components at Amata Industrial Park in Bien Hoa city.
As of present, 41 countries and territories have a total of 1,190 projects in 32 IZs in Dong Nai with the total registered capital of $24.3 billion.
FIEs mainly invest in industrial production in the province with industries such as textiles, footwear, textile fibres, machinery, iron and steel products, and electronics.
Along with Binh Duong and Long An provinces, Dong Nai is one of the major industrial hubs adjacent to Ho Chi Minh City which have accelerated the planning and development of IZ infrastructure to catch the wave of shifting foreign investment flows.
