DONG NAI — Dong Nai Province People's Committee has approved in principle the establishment of a hi-tech park, expected to cost US$75 million, in Long Thanh District.
The project's investor, Amata Viet Nam Company, said the park would strive to attract Japanese and European investors who were interested in hi-tech industries.
Amata Viet Nam also planned to pump further investment into two other residential area and service projects, worth a combined of $270 million, its general director Huynh Ngoc Phien told Dau Tu newspaper.
The company's plan accorded with the provincial tendency to attract more foreign direct investment (FDI) in hi-tech and support industries, according to its Department of Planning and Investment.
The province, meanwhile, would gradually limit labour-intensive projects with low value, especially in textiles, footwear and wood processing, while suspending the granting of investment licences to projects with a high risk of environmental pollution, the department said.
It had set a target of drawing $900 million in FDI this year, $28 million less than that of the previous year, said the department's deputy director Phan Minh Thanh.
He attributed the weaker goal to the continuos influence of the global economic downturn and provincial-level priority projects in hi-tech and support industries, which were mainly small-scale ones with low investment capital.
In the current difficult context, the department would join hands with the provincial Industrial Zone Authority to review licensed projects to ensure the capital disbursement, he said.
Last year, the province revoked licences of 48 sluggish projects with capital totalling $261 million, marking a 37 per cent year-on-year increase in terms of project quantity.
The latest addition has brought the total number of slow-moving projects experiencing licence withdrawal to 280.
As of December, the province was home to 972 projects, capitalising at $19.3 billion. However, 28 of them worth $2.13 billion were yet to start as scheduled. — VNS