Despite COVID-19, foreign direct investment has continued pouring into Dong Nai Province, which plans to expand its industrial zones as space in existing IZs is nearly full.
Despite COVID-19, foreign direct investment has continued pouring into Dong Nai Province, which plans to expand its industrial zones as space in existing IZs is nearly full.
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| Dong Nai is planning on expanding and opening more industrial zones as the province is seeing more and more foreign investment. |
Cao Tien Sy, head of the Dong Nai Industrial Zones Authority, said that as of the end of June, the authority had granted investment certification for 40 new FDI projects worth a total of US$168 million. Fifty-three existing projects also registered more capital of $479 million.
More FDI and domestic businesses have been increasing investment and expanding their projects year-on-year at the province's industrial parks, he said, adding that many FDI companies are focusing on Vietnam because of its membership at many free trade agreements.
Most of the new projects in the province operate in sectors in which Dong Nai is encouraging more investment. Twenty-two of them are from the supporting industry, and have their capital investment accounting for 72,63 per cent of the total new investment.
The province has 32 industrial zones covering over 10,240ha, with one zone not yet in operation.
Twenty out of 31 industrial zones are nearly full, Sy said. The province is planning to expand three of its industrial zones namely Dau Giay by 75ha, Long Khanh by 500, and Tan Phu by 170.
Cities and regions are also proposing building eight more industrial zones, which would increase the amount of land for the zones by more than 5,000ha.
The province has over 1,100 FDI projects with a total of $954 million of registered capital, making it among the top six provinces in terms of FDI.
Numerous ongoing national infrastructure projects such as Long Thanh international airport and the Vung Tau - Bien Hoa railway and expressway are contributing to Dong Nai's attractiveness as an investment destination.
(Source:VNS)
