The southern province of Dong Nai has withdrawn licences it issued to 531 delayed foreign direct investment projects last year. (Photo: VNA)
Dong Nai (VNS/VNA)- The southern province of Dong Nai last year scrapped the licences it hadissued for 531 proposed foreign projects due to slow progress.
They involve combinedinvestment of over 5.34 billion USD, according to the provincial Department ofPlanning and Investment.
After receiving theirinvestment registration certificates, most foreign investors quickly bring inmoney, import machinery and equipment and build plants, usually in one to twoyears, and begin doing business, according to Mai Van Nhon, deputy head of the DongNai Industrial Zones Authority (DIZA).
Investors who delay theirprojects due to unexpected difficulties would get assistance from the province,with the DIZA always working with investors to find out the reasons, he said.
If they are determined to dobusiness, their licences would get an extension, but investors who soundunreasonable or deliberately delay their projects would lose their licences,which would then be given to others, he added.
According to the department, theprovince received more than 1.96 billion USD worth of FDI last year, nearlydouble the targeted amount.
So far the province hasattracted over 1,200 foreign projects with an investment of 24 billion USD.
In the process of promotinginvestment, Dong Nai has established relations with companies and localitiesaround the world, which has helped it gradually improve its technologystandards, facilitating international integration.
Along with the development ofindustrial parks, other related services, such as logistics, construction,healthcare, and housing are also developing rapidly in the province./.
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The southern province of Dong Nai has withdrawn licences it issued to 531 delayed foreign direct investment projects last year. (Photo: VNA) 
