Dong Nai attracts 355 million USD of FDI capital in the first quarter of 2018. (Photo: Danh Lam/VNA)
Dong Nai province drew more than 1.3 billion USD in foreign direct investment (FDI) throughout a period of nine months in 2018, surpassing their yearly target by 30%. The amount included more than 600 million USD from newly licensed projects.
These figures have affirmed FDI investors’ trust in the security of Dong Nai’s as an investment location and are attributed to local authorities’ efforts to improve the competitiveness capacity, investment climate, administrative reform, and readiness to accompany enterprises apart from its potential in geographical position, population, and geology. More importantly, infrastructure companies have greatly contributed to Dong Nai’s success.
They are Sonadezi Long Binh, Tin Nghia, and industrial parks like Bien Hoa 1, Long Thanh, and Amata, to name a few.
Guru Malikarjuna, Managing Director, Bosch Vietnam, said: “We plan to build a factory in Vietnam because of the country’s favorable investment conditions. Among them are political stability, a young and competent young human resource sector, and geographical advantages. From Vietnam, we can easily gain access to other regional customers.”
According to a representative of Dong Nai industrial zones’ management board, a well-located industrial zone is a leading factor in attracting investment. But the brand, investment attraction results, service quality of infrastructure companies, and the investment efficiency of enterprises there are also factors that FDI enterprises often consider carefully in choosing an investment location.
Those are the reasons why Dong Nai has attracted a great number of major firms like Hisamitsu, On Semiconductor, Fujitsu, Taekwang Vina, CP Group, and Shell Vietnam.
The KCC Vietnam, a paint production company invested by the Republic of Korea at Long Thanh Industrial Zone in Dong Nai province. (Photo: Danh Lam/VNA)
In recent years, Dong Nai has given priority to projects using hi-tech, skilled laborers, and environmentally-friendly practices with stricter regulations instead of casting a wider net at the expense of quality projects.
“Dong Nai has a good infrastructure and qualified human resources to ensure the security of investment projects. It has also made impressive advances in public services and administrative reform. Previously Dong Nai planned to attract as many projects and capital as possible but now it has changed its approach to selecting projects with priority given to the most advanced technologies of the day,” said Mai Van Nhon, Deputy Director of the provincial Industrial Zone Management Board.