Does FDI stop flowing into Dong Nai ?

Vice Chairman of the provincial Peoples Committee Dinh Quoc Thai (fourth, left) is working with the UK consultants for the bridge project that link HCM city and Nhon Trach district in Dong Nai province.

More than 2285 out of 4070 hectares of land in Dong Nai’s 21 industrial parks has been leased to investors. Of which, 100% of land at the industrial parks of Nhon Trach III (first phase), Bien Hoa I, Tam Phuoc, Dinh Quan has been leased.

According to Mr. Vo Thanh Lap, Acting Director of Dong Nai  Industrial Zones Authority (DIZA), it cannot say that foreign direct investment (FDI) stops flowing into Dong Nai. FDI inflows into the province are almost $1 billion in 2006. Hence, Dong Nai’s FDI remains stable in 2006 when compared to 2005 or 2004. With the aim of fully presenting the desirable investment environment, business advantage and development opportunities of the province, Dong Nai has conducted a series of promotion activities on investment and business environment of Dong Nai at abroad during 2005-2006, attracting more and more businessmen, multinational corporations and headquarters to Dong Nai. Foreign business had more information about Dong Nai, the ideal place for business, by various promotion activities.

It is found that Dong Nai received lower FDI flows in 2006 than in previous years mainly due to the decreasing numbers of new factories built in the province. However, this year has been busy for Dong Nai that has welcomed visits by foreign ambassadors and delegations from Singapore, Malaysia, Australia and other countries to the province in order to seek investment opportunities here.

Sanyo’s digital camera factory in Bien Hoa 2 Industrial Zone

Dong Nai attracted not only the economic investors but also the educational investors. Recently, the representatives of an aeronautical university in U.S has come to Dong Nai with the desire to seek cooperation opportunities with Dong Nai. According to the representatives, Long Thanh International Airport project will be built in the province, therefore Dong Nai need to develop a suitable human resources training programme for the project and that was the reason they came here. This proved that Dong Nai is still an attractive destination for foreign investors.

To present, there are 21 industrial parks with combined area of about 4,070 ha in Dong Nai province. Of the total area, more than 50 per cent has been leased. In the past 11 months of this year, Dong Nai’s IPs attracted total investment capital of over US$808 million, including US$328 million of new projects and about US$480 million of capital increasing projects. This figure increased 18% against the same period last year, exceeded the set plan by 35%. There were many enterprises in Dong Nai that registered to increase their capital in the past months, this showed that their business has been developing well in Dong Nai.

Reported by Kim Loan