The southern province of Dong Nai has seen swift disbursement of foreign direct investment (FDI) which surpassed the province’s plan, said local officials.

Worker at the FDI-invested Koyu-Unitex company in Bien Hoa city
of Dong Nai province (Photo: www.baodongnai.com.vn) 

In the first 10 months of 2019, more than 1 billion USD of FDI capital was disbursed, mostly in industrial production. The province has set the target for the entire year at 1 billion USD.

The provincial Department of Planning and Investment said the province is now home to 1,447 valid FDI projects with total registered capital of 29.8 billion USD.

Nearly 24 billion USD have been disbursed so far.

Head of the province’s industrial park management board Cao Tien Sy said among projects with high disbursement rate, more than 60 percent are in the supporting industry, which is the province’s priority.

Earlier this year, Japanese Fujitsu company disbursed an additional 60 million USD to expand its electronic component production line.

In 2018, Germany’s Bosch discharged 71 million USD to expand a factory at the Long Thanh industrial zone to produce automobile parts.

The rapid disbursement of investment capital has contributed to a high growth in industrial production.

Dong Nai has seen an annual growth of over 8 percent in industrial production index, and 13 percent in export revenue. Contributions to the State budget by FDI firms in the province have increased by about 20 million USD per year.

Businesses from 45 countries and territories have invested in the province, with the Republic of Korea, Taiwan (China) and Japan leading the way