Đồng Nai Province’s FDI has already exceeded its full-year target of US$700 million. —Photo tuoitre.vn

HCM CITY — Despite the prolonged COVID-19 pandemic, in the first 11 months of this year Đồng Nai attracted nearly US$1.1 billion in foreign direct investment, exceeding its target by well over half, according to the provincial Industrial Zones Authority.

Lê Văn Danh, deputy head of the agency, said the province attracted 46 new projects worth $358.85 million while the rest went into 94 existing ones that increased their investment.

Most of the projects are in supporting and electronics industries, use modern technologies and are environment-friendly, as the province prefers.

Attracting FDI is a key aspect of Đồng Nai Province’s socio-economic development strategy, according to its People’s Committee.

A preferred destination for foreign investors in the south-eastern region, the province has taken a number of concrete measures to attract them, with priority given to projects that use high technology, are environment-friendly and less labour-intensive and manufacture competitive products.

It plans to speed up investment to improve its infrastructure, skill its workforce and modernise technology in addition to strengthening administrative reform to increase its competitiveness as an investment destination.

It offers favourable conditions and end-to-end support to investors, Danh said.

It has speeded up administrative reform to streamline processing of investment procedures, he said.

Better co-ordination among official agencies also helps investors address issues related to administrative procedures, he said.

New industrial parks are planned to be built in Xuân Lộc, Định Quán, Vĩnh Cửu, Thống Nhất, and Tân Phú districts and Long Khánh Town, he said.

Many large companies are expected to invest in the province, he added. 

Of 47 countries and territories investing in the province, Taiwan (China), South Korea, Japan, ASEAN member countries, Europe, and America are the leaders.  VNS