Foreign investment in Dong Nai surges by 34%

Of that, over $640 million was invested in 61 new projects, while the remaining $449 million went to 74 existing projects, the provincial Department of Planning and Investment said, adding that most of these projects were located in industrial parks.

Nguyen Huu Nguyen, the department's director, said the Republic of Korea, Taiwan, Japan and Singapore were some of the investors in new projects.

Nguyen said Dong Nai will continue to remove obstacles in attracting foreign investment to create a favorable environment for businesses.

The province is home to more than 1,600 foreign projects worth a total of $35 billion.

It will also publicly list projects calling for investment and foster investment promotion activities to find investors that can meet the criteria set by the province, Nguyen told Dong Nai newspaper.

Pham Duc Thang, managing director at Cargill Animal Nutrition Thailand & Vietnam, said the firm has received support in resolving difficulties and obstacles in production and business from the province and has been investing more in the locality over the last 30 years.

Nguyen Thi Hoang, vice chairwoman of the Dong Nai People's Committee, noted that to facilitate foreign investment attraction, the province has established a task force headed by the committee’s leaders.

The task force is responsible for promoting the establishment of new industrial parks to promptly supplement the province's industrial land fund, Hoang said.

Dong Nai currently has 33 established industrial parks covering a total area of over 10,500 hectares. Of these, 32 are already operational, with nearly 2,100 companies already working in these IPs.