Dong Nai Province is one of the top southern provinces attracting domestic and foreign investment in port and hotel projects and is becoming a major investment destination, according to the Ministry of Planning and Investment.
Dong Nai Province is one of the top southern provinces attracting domestic and foreign investment in port and hotel projects and is becoming a major investment destination, according to the Ministry of Planning and Investment.
The province has so far this year licensed six investment projects worth US$1.3 billion, ranking it fourth for domestic and foreign investment after Ba Ria-Vung Tau, Binh Duong and HCM City.
Major investment projects include Phuoc An Port in Nhon Trach District. It is invested by the PetroVietnam Group, Bien Hoa Industrial Park Development Company and Tin Nghia Company.
The $1.1 billion project is expected to increase the port’s capacity to 9 million tonnes a year and make it capable of accommodating 30,000-60,000 tonne vessels.
Petro Vietnam’s Deputy Director General Vu Quang Nam said the group’s other projects in Dong Nai include Nhon Trach Power Plants 1 and 2, adding the group would invest in other projects in the province in coming years.
A Sai Gon New Port Company project, named the ICD Tan Cang – Long Binh in Bien Hoa Town, has an investment capital of $11 million. It aims to turn Dong Nai into a centre for transport and logistics services.
The Park Hyatt Viet Nam Hotel complex includes a five-star hotel and a residential building in Bien Hoa with a total investment capital of $50 million.
Dong Nai provincial authorities also granted investment certificates to Thai TOP Solvent company, which specialises in producing and processing solvents and other chemicals in Go Dau Industrial Park in Long Thanh District. It’s worth $440 million.
The two remaining projects are a $65 million aluminium, steel and alloyed metal production joint venture with the Viet Nam Steel Corporation, Malaysia’s Federal Works Iron Company and Japan’s Sumitomo and a project by Maxxist Holding from Virgin Islands which was allowed to adjust its capital from $81 to $145 million to produce inner tubes and tyres and other rubber products.
(Source: VNS)
