MORE THAN $370 MILLION OF FDI POURED INTO DONG NAI PROVINCE

Dong Nai People’s Province granted five foreign-invested enterprises (FIEs) licences to increase their investment capital by a total of more than $370 million on March 31.

The project with the largest increase in capital is from Hyosung Dong Nai Co., Ltd. (belonging to South Korea's Hyosung Group) located in the Nhon Trach V Industrial Park. The project increased its investment capital from $742.7 million to $925 million.

Since its establishment in 2015, Hyosung Dong Nai's investment has created jobs for more than 1,800 employees.

SMC Manufacturing Co., Ltd. from Japan, which is manufacturing automatic control devices in the Long Duc Industrial Park, was licensed to increase its investment capital from $449.4 million to $549.4 million.

South Korean-invested AK Vina Co., Ltd., which specialises in chemical production and processes primer paints on metal and plastic materials in the Go Dau Industrial Park, was also given a licence to increase its investment capital from $35 million to $72.82 million.

Also from South Korea, Suheung Vietnam Co., Ltd., located in the Long Thanh Industrial Park, was licensed to increase its investment capital from $80 million to $105 million. This enterprise specialises in the production of empty capsule shells used in pharmaceuticals and dietary supplements.

KCC Vietnam Co., Ltd, an enterprise from Singapore located in the Nhon Trach VI Industrial Park, specialises in the production of ceramic capacitors and electronic circuit boards. It has increased its investment capital from $112.5 million to $137.5 million.

Along with granting the investment certificates, Dong Nai People’s Committee has awarded certificates of merit to 12 FIEs that have made achievements in production and business activities from 2021 to 2022. Among those were Hyosung Dong Nai, Bosch Vietnam, Posco VST, Vietnam Suzuki, On Semiconductor, Long Binh Industrial Zone, and Sika Vietnam.

Dong Nai is one of the most significant economic development hubs in the south of the country, with 32 industrial zones that attract more than 1,400 foreign-invested projects with a total implemented capital of more than $22 billion.

Source: VIR