Dong Nai attracts 57 FDI projects

Dong Nai attracts 57 FDI projects

Electric motors being produced at Mabuchi Motor Viet Nam in Dong Nai Province's Bien Hoa 2 Industrial Zone. The province has attracted US$1.1 billion FDI into 57 new projects. — VNA/VNS Photo Danh Lam

HA NOI  (VNS) — The southern province of Dong Nai attracted 57 foreign direct investment (FDI) projects worth US$1.1 billion, according to the provincial Department of Planning and Investment.

Industrial park projects comprise 54 of the total. The biggest project is a $660-million Hyosung Corporation fibre factory in Nhon Trach District.

Many large groups from the US, Singapore, Taiwan and Dubai have come to the province to study investment policies from the beginning of this year, according to the department.

The province received 1,153 projects worth $22.7 billion from forty-three countries and territories by the end of July.

Countries and territories with investment capital of more than $1 billion include South Korea, Japan, Singapore, Taiwan and the British Virgin Islands.

The largest investor into Dong Nai is Taiwan with 278 projects worth $4.9 billion, followed by South Korea with 298 projects ($4.7 billion), Japan ($3.5 billion), Singapore ($2 billion) and the British Virgin Islands ($1.2 billion).

According to the Dong Nai industrial parks' management board, 834 FDI projects are currently operating in the parks with revenue reaching $6.75 billion in the first half of the year. This is about 9 per cent over last year's total.

Of this, $3.8 billion came from exported goods - an increase of $293 million on the year.

Commodities for domestic consumption increased by $246 million, hitting $2.95 billion.

Source: VNS