Dong Nai province attracts 571 million USD in FDI in Q1, up 13.3% over the same period in 2023. (Photo: VNA)

Foreign direct investment (FDI) attraction remained a bright spot of the southern province of Dong Nai in the first quarter in 2024.

According to the provincial Statistics Office, the province attracted 571 million USD in FDI in Q1, up 13.3% over the same period in 2023. With the sum, Dong Nai ranked in the country's top 10 provinces and centrally-run cities in terms of FDI attraction in the first quarter.

There were 24 newly licenced projects with total registered capital of 291.4 million USD, a 5.5-fold increase over the same period last year. Meanwhile, 24 projects were permitted to add 279.9 million USD to their registered capital, down 37.9% year on year.

The office said the FDI investment capital in the first three months of the year was mainly invested in newly licenced industrial parks.

Dong Nai attracted 1.2 billion USD in 2023, an increase of 11% compared to 2022. Among the projects, there were 81 newly licenced projects with total registered investment of over 467 million USD, and 94 projects permitted to add over 761 million USD to their capital.

The province is now home to nearly 1,600 valid FDI projects, with combined investment capital of over 34 billion USD.

The province’s industrial production index in the first quarter of 2024 rose by 5.1% over the same period last year. The slow increase in industrial production index was attributed to a lack of orders.

In addition, the political situation and inflation in the world have greatly affected production activities of local industrial enterprises, leading to lower production indexes of key industries in the area than the same period last year, especially key manufacturing industries such as textiles and garments, leather shoes, chemicals, electronic products, and computers./.