One of Vietnam's top destinations for foreign investment, the southern province of Dong Nai has scrapped 37 projects worth over US$50.3 million this year, news website Bao Dau Tu reported on Tuesday.
One of Vietnam's top destinations for foreign investment, the southern province of Dong Nai has scrapped 37 projects worth over US$50.3 million this year, news website Bao Dau Tu reported on Tuesday.
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| Nhon Trach Economic Zone in Dong Nai. |
A majority of the projects were abandoned by their investors, the province's Department of Planning and Investment was quoted as saying.
The rest were either delayed for more than a year, or canceled by the investors, the department said.
Dong Nai authorities have licensed 1,517 foreign-invested projects with a combined capital totaling nearly $27.77 billion. However, 23.5 percent of the projects have been canceled, either by their investors or by the province.
Dong Nai recorded the third highest foreign direct investment inflow in the January-September period. A total of $1.6 billion was registered with local authorities, accounting for 9.36 percent of the country's total FDI pledges.
(Source:Thanhniennews)
