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Dong Nai reforms beget FDI gains

Update: July, 18/2014 - 09:18

A corner of Bien Hoa 2 Industrial Park, Dong Nai Province. The province has attracted US$826 million in FDI in the first half of this year. — VNA/VNS Photo Van Khanh

DONG NAI (VNS) — The Dong Nai administration says persisting with administrative reform efforts with a focus on licensing, tax and customs procedures have paid off big time.

It has been able to meet its annual FDI target in just six months, a Voice of Viet Nam Online report said yesterday, citing Tran Minh Phuc, Vice Chairman of the provincial People's Committee.

He said the province has attracted US$826 million in FDI in the first half of this year, fulfilling its yearly target and ranking it third in terms of FDI attraction among cities and provinces nation-wide.

Phuc said streamlined administrative procedures and improved infrastructure facilities have considerably improved the local investment climate and made the province an attractive investment destination for foreign investors.

The provincial Department of Planning and Investment said Japan, South Korea and Taiwan are the leading FDI sources.

The first half figures takes the total number of FDI projects in the southern province to 1,430, capitalised at over $25 billion, it said.

Chien Chih Ming, Chairman of the Taiwan Business Association in Dong Nai told VOV Online that Taiwanese investors highly appreciated the local authorities' timely and effective assistance in solving their business difficulties.

Earlier this year, the province decided to earmark VND3 trillion ($143 million) for key development projects in transportation as well as infrastructure in industrial zones. — VNS



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