Dong Nai (VNA) – To be a top destinationfor foreign investors, the southern province of Dong Nai has accelerated publicadministrative reforms and facilitated foreigners doing business in theprovince.

Dong Nai is home to more than 1,200 valid FDI projectswith registered investment of more than 23 billion USD. Since 2014, an averageof about 1.7 billion USD has been invested in the province’s FDI projects eachyear. Besides large investors, the province has also called for foreignenterprises with medium-sized investment in high technology. Currently, 80percent of FDI firms in the province have invested 10 million USD or more.

Various dialogues have been held annually by the localgovernment to help enterprises remove barriers while the province has asked forcooperation from other provinces like Nghe An and Dong Thap to help recruitworkers.

Before, enterprises employing more than 5,000 workerswere priorities when seeking investment permits due to the province’s effort tocreate local jobs. But now, labour-intensive projects are no longer in itsfavour. The province has also rejected many projects using outdated technologyor those that could harm the environment.

Mai Van Nhon,deputy head of the provincial management board of industrial parks, said in2014, an investor had to spend 50,000 USD to create a job and this numberincreased to 80,000 USD this year. Also before, an investor had to spend 10million USD to open a factory that employs 500 workers but now, with the sameamount of money, they only need 300 labourers. Most of the spare funds are usedto buy technology and equipment, he added.

Additionally,Dong Nai has stepped up efforts to fast-track key infrastructure projects,including Long Thanh International Airport, the Dau Giay – Phan Thiet, Dau Giay– Lien Khuong and Bien Hoa – Vung Tau Highways, and Tan Van – Nhon Trach beltroad. It also plans to construct roads connecting Trang Bom and Vinh Cuu, TrangBom and Thong Nhat, and Long Thanh and Cam My.

The province attracted 902 million USD in foreign directinvestment (FDI) in the first six months of the year, more than 90 percent ofthe yearly plan and up 48 percent from the same time in 2017.

According to the provincial Department of Planning andInvestment, investment licenses were granted to 54 FDI projects with totalregistered capital in excess of 420 million USD. Meanwhile, 49 projects appliedto increase their investment capital. 

The FDI inflow came from the Republic of Korea, Taiwan(China), Japan, China, the British Virgin Islands and Germany.

Large projects included a 40-million-USD Hi KNIT Co., Ltdproject developed by a Korean investor at Nhon Trach industrial park, a33-million-USD Air Manufacturing Innovation Vietnam project by Dutch investorat Giang Dien industrial park and a 32-million-USD DH Logistic Property VietnamCo.,Ltd project by Singaporean investors at Loc An-Binh Son industrial park.–VNA