ĐỒNG NAI’S Q1 FDI ATTRACTION NEARS YEARLY TARGET

The southern province aims to get $1.1 billion in foreign direct investment (FDI) this year.

The Biên Hòa 1 Industrial Park in the southern province of Đồng Nai. The province aims to have 48 industrial parks by 2030. VNA/VNS Photo Công Phong

ĐỒNG NAI — The southern province of Đồng Nai attracted US$927 million in foreign direct investment (FDI) in the first quarter of the year, coming close to its annual target of $1.1 billion, according to reports from the provincial Department of Finance.

Of the total, $407 million was invested in 29 new projects, while more than $520 million went to existing ones.

Notable projects included the Mapletree Logistics Park Tam An 1 in Long Thành District, with an investment of over $100 million, and the SMC Manufacturing Vietnam Ltd. project in the Long Đức Industrial Park, where a capital increase of $330 million brought the total investment to nearly $1 billion.

The new investments in Đồng Nai were primarily directed toward industries such as semiconductor manufacturing, electrical and electronic components, mechanical engineering, textiles, and the production of cast metal products.

No projects in sectors likely to cause environmental pollution or heavily rely on labour were approved, which is in line with the province’s investment attraction strategy.

The province's master plan for development in the 2021-30 period, which has been approved by the Prime Minister, aims to build 48 industrial parks by 2030.

Đồng Nai currently has 31 operational industrial parks, attracting nearly 1,700 projects with a combined investment of over $35 billion from 46 countries and territories. Leading investors include the Republic of Korea, Taiwan (China), and Japan. — VNS

Source: VNS