Attracting Foreign Direct Investment (FDI) is one of the important areas to promote local socioeconomic development. Therefore, Dong Nai provincial Party Committee and People’s Committee have continuously created favorable conditions for its area.
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| President Truong Tan Sang visits the Formosa Company |
Attracting Foreign Direct Investment (FDI) is one of the important areas to promote local socioeconomic development. Therefore, Dong Nai provincial Party Committee and People’s Committee have continuously created favorable conditions for its area. Foreign investment enterprises have also had significant contributions to Dong Nai’s industrialization and modernization.
Achievements
Dong Nai had 31 established industrial zones (IZs) to date on total areas of more than 10,000 hectares. IZs have filled 65 percent of its total available land for lease. The province currently have had over 900 foreign investment projects in 1,200 valid projects with total investment capital of more than US$14.5 billion. Of which, a number of foreign investment enterprises, such as Formosa (Chinese Taipei), Vedan (Singapore-Chinese Taipei), Hualon (Malaysia-Chinese Taipei) and Fujitsu (Japan) has had projects with total investment capital of hundreds of millions of dollars. These enterprises have promoted local socioeconomic development, significantly contributing to increase Dong Nai’s export turnover. It can be said that foreign investment enterprises play an important role in the province’s development.
An increase in FDI capital has contributed to shift economic structure in a positive manner and improve industrial production capacity. The computer and electronic industries have become familiar with the province. The application of advanced manufacturing technology in foreign investment enterprises has contributed to change the working style of workers in the province. They can work in a professional, modern and scientific environment. In addition, foreign investment enterprises have also invested to construct residential districts and new urban areas towards modernization in Long Thanh, Nhon Trach, Vinh Cuu and Trang Bom districts.
Enterprises accompany with the province
Foreign investment enterprises have had efforts to complete the manufacturing process as well as improve people’s living standards. Together with production motto based on sustainable environmental development and a “Business to society-Business to nature” slogan, the Japan’s Ajinomoto Group in Bien Hoa 1 Industrial Zone has been received many awards from the Vietnam Union of Science and Technology Associations (VUSTA). In the group’s production process, Ajinomoto has always focused on reducing water and solid wastes.
The Taekwang Vina Industrial Co., Ltd. in Bien Hoa 2 Industrial Zone has focused on improving people’s living standards. Taekwang Vina’s Labor Union Chairman Dinh Sy Phuc said that the company was trying to save costs for workers in the context of meager wages. The company has offered workers low-cost breakfast meals, costing only VND2,000 each meal compared to cost price of VND5,000. The difference levels are taken from the company’s welfare funds and profits. In particular, the company constructed a credit store serving for workers to buy essential goods, such as sauce, salt, rice, meat and washing power. These workers can pay later after receiving their wages.
The Formosa Company in Nhon Trach and the Viet Vinh Company in Trang Bom constructed dormitories for thousands of workers with the utility service system on the premises, such as reading room, sports room and ATMs. In particular, the Viet Vinh Company constructed kindergarten with scale of 800 children. Children of workers only have to pay food expenses and the remaining fees will be paid by the company.
Local government accompanies with enterprises
36 countries and territories selected Dong Nai as a safe investment destination. Therefore, the province is focusing on expanding their foreign relations. According to Dong Nai People’s Committee Chairman Dinh Quoc Thai, to continuously attract foreign investment in Dong Nai, local government always supports enterprises in the context of an economic recession. Many solutions to resolve difficulties for enterprises have been underlined. The provincial government said that with such efforts and solutions, attracting foreign investment in Dong Nai will increase in the near future, contributing to promote the province’s socioeconomic development.
(Source: VEN)
