DONG NAI (VNS) — The southern province of Dong Nai is looking to attract US$2.4 billion in manufacturing engineering investments by 2025, the provincial Department of Industry and Trade stated.
According to the director of the department, Le Van Danh, under a recently-adopted development master plan for the sector until 2020, and continuing with a vision to 2025, Dong Nai will prioritise highly-competitive industries, such as electrical appliances, boilers and farming machinery.
Simultaneously, it will also ramp up its ancillary industries to increase the local content of domestically-made machines and equipment.
The mechanical engineering sector in Dong Nai has so far attracted 319 investment projects, in which 270 projects worth over $3.2 billion, saw investments by foreign companies, accounting for 22.2 per cent of the flow of total foreign direct investments into the province.
Meanwhile, domestic enterprises poured more than VND5.6 trillion ($266 million) into 49 projects, which was more than investments in other sectors. — VNS