(ĐN)- Dong Nai province attracted around US$ 1.2billion worth of FDI in 2012, a remarkable figure when compared with the set target of US$800 million.
(ĐN)- Dong Nai province attracted around US$ 1.2billion worth of FDI in 2012, a remarkable figure when compared with the set target of US$800 million. FDI in Dong Nai has mainly come from Asian nations including Japan, South Korea, Singapore, Malaysia and China.
The impressive result is owing to the fact that the local investment environment has increasingly been improved, investment promotion activities have paid off and supports of the local government towards investors have been stronger.
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Last year, Dong Nai boosted investment promotion to attract the attention of foreign investors, especially those from Japan and Korea. In April, Chairman Dinh Quoc Thai of Dong Nai province People’s Committee led municipal businesses to Japan and organized investment promotion conferences in Tokyo and Osaka.
Last October, Dong Nai continued to hold two investment promotion conferences at Seoul and Ulsan city of Korea. The conferences aimed to call for hi-tech, environmentally-friendly projects, focusing on support industries, transportation and technical infrastructure, in which Korea has advantages.
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| Dong Nai province's leader signs agreement with Sojitz Corp's representative at investment promotion conference in Japan last April |
The rising labor costs and shrinking market due the impacts of earthquake and tsunami make it less favorable to do business in Japan. Therefore, Japanese enterprises are shifting their investment overseas to Vietnam, Indonesia and Thailand among others, said Mr. Hideo Okubo, Japan's Foval Corporation Chairman and CEO.
According to the Japan External Trade Organization (JETRO) in Vietnam, after a period of time searching for investment opportunities, Japanese investors are heading to Southeast Asia and Vietnam is considered a potential destination.
According to a number of Japanese investors, Vietnam is eyed for its cheap labor, great potentials in the domestic market and a platform for export to third countries.
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| Akzo Nobel inaugurates its new factory in Amata IP |
Dong Nai targets to lure from US$800 million to US$1 billion of FDI this year with priorities on infrastructure, clean and environmentally-friendly industry, hi-tech, supporting industry and machinery production.
In addition, preferential tax policies, complete infrastructure of industrial parks and simple administrative procedures will help the locality draw more investors.
Reported by K.N
