Foreign direct investment (FDI) disbursements stood at US$2.3 billion in Dong Nai province last year, much higher than the fresh FDI pledges for new and operational projects.
Foreign direct investment (FDI) disbursements stood at US$2.3 billion in Dong Nai province last year, much higher than the fresh FDI pledges for new and operational projects.
Bo Ngoc Thu, Director of the Dong Nai Department of Planning and Investment, told a meeting last week on the province’s socio-economic performance last year and this that FDI disbursements were 2.3 times over 2013 and accounted for nearly 19% of the nation’s total.
That was the highest FDI disbursement level in Dong Nai. Thu credited the outstanding achievement to the southern province’s effort to attract investors with financial capacity, prestigious brands and good markets.
The achievement was of great significance because the province worried the worker protests against China’s illegal placement of a giant oil rig well in Vietnam’s waters in May last year would leave negative impact. This proved foreign investors are confident in the province, the department said.
Last year, foreign investors registered over US$1.73 billion for fresh and operational projects in Dong Nai Province, nearly doubling the province’s target.
Thu said most of the new projects were licensed in high technology, friendly-environment, supporting, agriculture and services industries in line with the province’s policy.
Thu said the strong increase in new FDI pledges also resulted from the province’s streamlined investment, tax and customs procedures and its investment promotions in such potential markets as Japan and South Korea.
Despite this success, Dong Nai aims for US$900 million to US$1 billion in registered FDI and disbursements of US$1 billion this year. Thu said the province would continue attracting investments in high technology, friendly-environment and supporting industries, among others.
So far, the province has licensed 1,457 FDI projects with combined capital of nearly US$26 billion. Of them, the valid projects number 1,131 with total capital of US$21.49 billion.
(Source: SGT)
