Economy
Year-end stimulus expected to boost economic growth
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| A production line of Bosch Việt Nam Company in southern Đồng Nai Province. — VNA/VNS Photo Sỹ Tuyên |
Viet Nam News
HCM CITY — The southern province of Đồng Nai has attracted US$1.14 billion in foreign direct investment (FDI) so far this year, reaching 114 per cent of the annual plan, according to the Đồng Nai Industrial Zones Authority.
The province plans to attract $1 billion of FDI this year.
Since the beginning of this year, investment licences have been granted to 73 FDI projects, with a total registered capital of $551.8 million, according to the provincial Management Board of Industrial Zones.
Meanwhile, 64 projects sought an increase in their investment capital with a total increased capital of $595 million.
In addition, the province has licensed eight domestic projects in industrial zones with a total capital of more than VNĐ1.135 trillion. One project has its capital increased by VNĐ266 billion.
Most of the projects are in line with the province’s policy of attracting high-tech projects, support projects and eco-friendly projects.
The FDI inflow is from South Korea, Taiwan, Japan, China, British Virgin Islands and Germany.
According to the provincial Department of Planning and Investment, Đồng Nai is home to more than 1,800 FDI projects, with total registered capital of $32.76 billion, of which 1,335 projects are valued at $27.68 billion.
Đồng Nai has attracted FDI projects from 45 countries and territories, of which South Korea, Taiwan and Japan are the leading investors.
According to the department, the province is prioritising projects that use advanced and eco-friendly technology, and that require skilled labour for such projects as well as the support industry.
Foreign investors are mostly interested in the fields of industry, logistics, energy and technical infrastructure.
The province has made great efforts to reform administrative procedures and create an open and transparent investment environment.
In addition, industrial infrastructure in the province has significantly improved in recent years, while many major roads have been put into operation, helping to better connect with HCM City and other provinces in the southern region. — VNS
