The southern province of Dong Nai expects to see total foreign direct investment (FDI) poured into the region exceeding 10 billion USD by the end of this year.
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| Amata industrial park in Dong Nai province |
The southern
The benchmark will be reached on the back of a series of hundred million USD plus projects that are currently awaiting approval.
In the first four months of 2007 alone, the province licensed 13 new investments worth close to 77 million USD and allowed an additional 25 projects that are currently operational to pump an extra 167 million USD into their businesses.
To date, Dong Nai is currently home to 988 FDI business ventures with a total combined registered capital of over 9.9 billion USD.
Market analysts have said that Dong Nais improved investment environment and highly successful investment promotional activities abroad have acted as a springboard for the province to consistently remain a top 5 investment destination for overseas entrepreneurs.
As the first province to implement new government sanctioned administrative reforms, Dong Nai has reduced import-export and investment licensing times to between 3-5 days from the 15 days it took previously.
Min Young-Wo, Consul General of the
Nearly 160 RoK businesses have poured close to 1.5 billion USD into the province so far and the RoK diplomat believes there are more on the way.
Keen to build on its initial success, Dong Nai has also sped up the construction of industrial zones (IZs) with an aim of having an additional 10 IZs operating in the province by 2010, bringing the total number of IZs in Dong Nai to 33.
(Source: VNA)
