Dong Nai province has reclaimed investment licenses of 32 FDI projects worth US$172.09 million, according to Director Bo Ngoc Thu of the provincial Department of Planning and Investment.
Dong Nai province has reclaimed investment licenses of 32 FDI projects worth US$172.09 million, according to Director Bo Ngoc Thu of the provincial Department of Planning and Investment.
The Director said that the revocation was made as investors failed to implement projects within 12 months or the projects ran inefficiently.
In November only, the management board of Dong Nai industrial parks revoked investment certificates of 17 projects capitalized at nearly US$80 million. The majority of the projects were small and medium-scaled, operating in the areas of industrial processing, garment and textiles, packing and mechanics.
As reported earlier, over US$800 million in FDI has been disbursed so far this year in Dong Nai, posting the highest figure since 2008. The province attracted 42 new FDI projects this year, with a total investment of US$622 million, a year-on-year surge of 46%.
(Source: VGP)
