Dong Nai attracts nearly US$ 606 million more in FDI capital

According to figures revealed by Dong Nai Industrial Zones Authority (DIZA), Dong Nai lured US$ 222.5 million more in foreign direct investment with 81 newly-licensed FDI projects from beginning in 2005 up to middle of September meanwhile investment in 71 existing projects was increased with total additional capital of US$ 383.45 million.  As a result, excess of the US$ 605 million in FDI that poured into Dong Nai. FDI inflows to the province over the past 9 months are $5.95 million higher than target 2005.

The province’s 17 Industrial Zones (IZs) has to date attracted 720 investment projects totaling around US$ 7.25 billion. The sum included more US$ 6 billion from 560 FDI projects, US$427.04 million from 159 domestic projects and US$745.31 million from 45 joint-venture projects. Especially, the province utilized foreign investment amounted to over US$ 5.8 billion, accounted for 80% of total foreign registered capital. Presently, total FDI capital in Dong Nai reached about US$7.8 billion including the projects outside IZs. Over the past nine months, Diza has granted 2,671 import-export licenses to enterprises with total value of US$2.8 billion. During the period, enterprises operating within the provincial IZs reached a turnover of almost US$3.2 billion. This was followed by US$1.585 billion of exporting, US$1.68 billion of domestic consuming and US$115 million of tax-paying and others.

With regard to administrative procedures, DIZA has granted 881 certificates of ASEAN origin (form D) to enterprises with exporting value of US$35 million. In the third quarter of 2005, 60% of import-export licenses were issued within one day, 36% of such licenses in two day and the another within 3 day as regulated by law. All certificates of ASEAN origin have been granted within two hours after applications were submitted. DIZA has demonstrated its quality management system in accordance with ISO 9001:2000 standard. The organization has no claims against the paper handling procedure.                                    

Over the past 9 months, DIZA not only granted the investment licenses and import-export licenses but also made the recognition of Board of Directors and Board of Managers for 202 enterprises. Besides, the organization granted employment licenses for 235 foreigners and extended employment licenses for another 209 foreigners. Furthermore, DIZA also approved labor safety regulations and labor agreement submitted by 48 enterprises. In the other hand, the organization has settled 15 cases of complaints and labor disputes. To date, 218148 people has been employed in the provincial IZs, 2564 of such employees are foreigners.  

Presently, DIZA is taking steps to reduce administrative and paperwork burdens and implement “one door, on the spot” mechanism aiming to facilitate better absorption of foreign investment and to help promote the economic development in the province.

Kim Loan