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More than 800 milliDong Nai sees rising foreign investmenton USD in foreign direct investment has been disbursed so far this year in the southern province of Dong Nai, the highest figure since 2008, said provincial Department of Planning and Investment director Bo Ngoc Thu.

The province attracted 42 new foreign-invested projects this year, with a total investment of 622 million USD, an increase of 46 percent year-on-year. It also signed agreements for 50 projects, adding 456 million USD to total investment capital volume.

Provincial industrial-zone management board deputy head Nguyen Phuong Lan said that foreign businesses had become more careful in their investment plans because of the economic turmoil.

Newly licensed projects in October alone were mostly focused on sectors like mechanics, electronics spare parts assembling and food processing.

Among the new projects, two were in high-tech. They were Belmont Manufacturing, specialising in health care equipment, and Maspro Vietnam, producing satellite television receivers and transmitters and security equipment.

Foreign-invested projects accounted for 62 percent of Dong Nai’s total industrial production and 95 percent of its export turnover. They also helped create more than 500,000 jobs.

Also this year, the People’s Committee of the southern province of Dong Nai had cancelled projects of nine foreign direct invested enterprises and revoked their investment licences.

The enterprises, mostly located in industrial parks with total investments of over 72 million USD, have intentionally delayed implementing projects. Some of them went bankrupt.

Thu said the province is upgrading its infrastructure and training skilled labourers to attract more investors.

Source: VNA

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