Đồng Nai Province hopes to attract FDI by improving investment climate

December 11, 2020 - 09:36
Attracting FDI is a key aspect of Đồng Nai Province’s socio-economic development strategy for 2020-25, according to its People’s Committee.


Workers at a factory in Đồng Nai Province. VNA/VNS Photo

HCM CITY — Attracting FDI is a key aspect of Đồng Nai Province’s socio-economic development strategy for 2020-25, 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 involve high technology, are environmental-friendly and less labour-intensive and to manufacture competitive products.

The province would speed up investment to improve its infrastructure system, skill its workforce and modernise technology besides strengthening administrative reform to increase its competitiveness as an investment destination, Cao Tiến Dũng, chairman of the People’s Committee, said.

The province offers favourable conditions and end-to-end support to investors to ensure their success, he said.

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

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

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.  

Trần Đức Toàn, a senior law department employee at Ajinomoto Việt Nam at Biên Hòa 1 Industrial Park, said the province has done exceedingly well in administrative reform, thus creating a good investment climate for enterprises to invest in and operate.

Investment registration procedures have been simplified with the processing time reduced from one or two days to just one or two hours, he added.

Somhatai Paichewa, general director of industrial park developer Amata Việt Nam, said her company is quickly creating infrastructure for the Long Thành High-tech Industrial Park to attract tech companies.

Many foreign tech companies plan to lease land and set up factories in the park, she said. 

Đỗ Thị Thu Hằng, chairwoman of Sonadezi Corporation, said her company targets sustainable industrial development while protecting the environment by using renewable and clean energy.

It prioritises enterprises in high-tech and clean energy industries with high added-value, she said.

It is now focusing on improving infrastructure at industrial parks and the quality of products and services, she said.

So far the province has 1,523 FDI projects with more than US$31 billion in registered capital.

Of them, more than 1,350 worth a total of $26.5 billion are in industrial parks.

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