Dong Nai province has experienced an unprecedented economic growth in recent years with an average annual growth rate of 13%, 1.7 times higher than the national average.
 |
| Long Thanh golf club |
Dong Nai province has experienced an unprecedented economic growth in recent years with an average annual growth rate of 13%, 1.7 times higher than the national average. The GDP per capita in the province rose from VND 6.7 million in 2000 to VND 7.7 million in 2004. The economic structure was shifted toward a higher share of industry and services and reducing that of agriculture and forestry. The private sector businesses have played an important role in Dong Nai’s economy. In Dong Nai, there are almost 3870 private sector businesses with total registered capital of VND 9,360 billion. Of which, VND 1,712 billion was of individual enterprises, VND 4,250 billion of limited-liability companies and the rest of shareholding companies. During the last 9 months of this year, about 640 new enterprises have been set up in Dong Nai with total capital of VND 1,620 billion and at the same time, 250 existing enterprises increased their investment with total additional capital of VND 760 billion. These figures presented an increase of 30% and 38% in terms of number of new enterprises and the total registered capitals compared with the same period last year. Especially, the Long Thanh Golf Investment and Business Joint Stock Company is built with 100% Vietnamese owned capital now totaling VND 155 billion. Singaporean Premed Investments decided to transfer its stakes in the Long Thanh Golf Club in
Dong Nai has a strong and rapidly growing private sector. The share of GDP in Dong Nai generated by private enterprises climbed to 40.28% in 2003 compared with 39.9% in 2002. In 2004, this emerging private sector was estimated to produce 37.4% of total GDP growth in the province to reach VND 9,298 billion, up 12% against 2003. Percentage of total capital invested in the private sector (excluding agriculture) rose 15.32% by 2004. At the same time, cash contribution from the private enterprises to State Budget was VND 484 billion, accounted for 12.33% of total collected money to State Budget. The private sector contributed 29.4% of total export turnover in the province. This sector creates annually new jobs for 5000 labors.
The Dong Nai entrepreneurs have demonstrated efforts in the development of their businesses. Besides, their involvement in charitable activities includes support for poverty eradication fund, gratitude fund, cash donations to help poor patients, poorest families, outstanding poor pupils and flood victims across the country. The Truong Hai Automobile Company, Dong Tien Garment Company, Dong Nai Rubber Company, etc. are typical enterprises.
The contributions of the Dong Nai businesses during the past years deserve to be respected as “peacetime soldiers”.
Xuan Phu
