Đồng Nai’s FDI surpasses yearly target by 46%

Production at a foreign invested company in Giang Điền Industrial Park, Đồng Nai Province. As of July 29, the IZs in the province attracted 55 new investment projects with a total capital of US$627 million. — VNA/VNS Photo

ĐỒNG NAI — The Đồng Nai Industrial Zones Authority (DIZA) reported a strong surge in foreign direct investment (FDI) into the southern province of Đồng Nai in the first seven months of 2024.

As of July 29, the IZs in the province attracted 55 new investment projects with a total capital of US$627 million, while 67 projects added a total $392 million to their capital, bringing the total FDI in the seven-month period to $1.01 billion, surpassing the yearly target by 46 per cent.

According to DIZA, Singapore was the leading foreign investor in Đồng Nai’s industrial zones over the past seven months, pumping $231.7 million into nine projects.

The authority noted that the new FDI projects licensed in the first seven months of 2024 primarily involved semiconductor manufacturing, electronic components, mechanical engineering, textiles, and production of pre-cast metal products.

During the same period, DIZA also granted licences for nine domestic investment expansion projects in industrial zones with an additional capital of nearly VNĐ1.4 trillion ($55.5 million) and three new domestic projects with registered capital of over VNĐ1.5 trillion. The total domestic investment in Đồng Nai’s IZs in the first seven months of 2024 reached VNĐ2.9 trillion, also surpassing the annual plan by 46 per cent.

Đồng Nai currently has 33 established industrial parks covering a total area of over 10,500 hectares. Of these, 32 are operational, housing nearly 2,100 enterprises.

There are nearly 1,600 valid FDI projects in Đồng Nai with total capital exceeding $34 billion. The top investing countries and territories are the Republic of Korea, Taiwan (China) and Japan. — VNS