Dong Nai absorbed about $3billion in foreign direct investment (FDI) in 2009, equivalent to 95 per cent of last years figure, 50 per cent higher than the years target, said Bo Ngoc Thu, Director of the Provincial Department of Planning and Investment.
Dong Nai absorbed about $3billion in foreign direct investment (FDI) in 2009, equivalent to 95 per cent of last years figure, 50 per cent higher than the years target, said Bo Ngoc Thu, Director of the Provincial Department of Planning and Investment. This was still a positive figure, given the global economic crisis. During last year, FDI flows have been channeled into sectors encouraged by the provincial authorities such as tourism, education, health, and real estate.
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| A production line of a foreign auto accessories company in Amata IP |
“The number of new enterprises in the province declined in 2009 due to impacts of the global economic crisis. However, Dong Nai’s twenty-nine industrial parks (IPs) attracted US$557 million in FDI in 2009, US$ 57 million higher than the years target. The province has attracted a large number of foreign investors from China, Taiwan, Korea, Thailand, France and the US who mainly focused on Bien Hoa city and districts of Long Thanh, Nhon Trach and Trang Bom”, said Mr Vo Thanh Lap, Director of the Dong Nai Industrial Zones Authority.
Mrs. Bo Ngoc Thu said the province is expected to attract US$ 1.5 billion in FDI and disburse US$ 800 million in 2010. In order to reach this goal, the province will the take the initiative in restructuring various departments for better efficiency including administrative procedures and licensing as well as facilitating implementation of FDI projects.
Local IPs are expected to attract US$ 750 million in FDI in 2010. Of the total, US$300 million will be registered capital of newly-licensed projects and the rest will come from increased capital of ongoing projects. Total investment for the development of infrastructure for industrial parks (IPs) in the province is estimated to reach almost VND 400 billion and US$ 3 million this year.
In 2010, the province will continue to seek foreign investment for hi-tech industries and environmentally-friendly projects, resulting in the decrease in FDI flows to local IPs.
Reported by Thu Trang
