Dong Nai attracts higher FDI capital than planned

Dong Nai, as well as other provinces and cities in the Southeast region, are prioritizing the implementation of regional transport connectivity projects to create a breakthrough in economic development. At the same time, the province focuses on improving the investment environment to increase FDI attraction in the fields of industry, trade and services, logistics, agriculture, tourism, real estate, healthcare, education, etc.

FDI capital has contributed significantly to economic development, job creation for workers inside and outside the province, state budget revenue, export, and economic growth.

Before 2010, Dong Nai, like other provinces and cities in the country, only focused on attracting FDI capital to create jobs; but after that, Dong Nai overcame its limitations to welcome large, high-quality FDI capital flows into industrial, agricultural, trade and service, logistics, technical infrastructure projects, etc.

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In recent years, FDI capital flows into Dong Nai have increased much higher than the province's plan. On average, each year, enterprises have implemented capital of 1-1.1 billion USD. The capital is quickly disbursed, contributing to speeding up the implementation of projects, contributing to increasing benefits for both enterprises and localities.

Since then, the revenue, import-export value, and budget contribution indicators have increased steadily over the years. Export items are concentrated in the fields of electronics, textiles, footwear, etc. Products of enterprises in the industrial park are of high quality, contributing to the enrichment of domestic market goods, meeting the needs of consumers.

To achieve this result, in addition to policies, Dong Nai always accompanies businesses, quickly resolving difficulties and problems of businesses throughout the project investment process.

Dong Nai is also focusing on overcoming shortcomings and limitations in handling administrative procedures for businesses. The province strives to simplify 10% of administrative procedures each year, including this criterion in the evaluation and classification of emulation in completing public duties and administrative reforms of departments, branches and localities to improve the quality of service for businesses. All administrative procedures are standardized, many procedures are performed online, the process and processing time are publicized on the province's Public Service Portal.

Currently, 45 countries and territories have invested in the province in various fields, but industry is still the main sector; in which, South Korea is leading, followed by Taiwan, Japan and Singapore.

FDI capital flow into the province is still not "worthy"

By the end of the 10 months of 2024, Dong Nai attracted more than 1.23 billion USD in FDI (foreign direct investment), up nearly 18% over the same period last year. The whole country attracted nearly 27.3 billion USD in FDI, up nearly 2% over the same period in 2023.

Dong Nai is currently ranked 8th in the country in attracting FDI capital. Although the province has a growth rate many times higher than the national average in attracting FDI, in reality Dong Nai is falling about 2-3 ranks compared to previous years.

Compared to the FDI attraction plan this year, the province has exceeded 100 million USD. However, with the potential and advantages of the province, the FDI capital flow into the province is still not commensurate. The reason for the above situation is still the lack of large industrial land areas for businesses to lease.

At the same time, projects outside industrial parks are still facing difficulties in procedures and land. Specifically, many projects outside industrial parks in the fields of real estate, tourism, trade services, logistics, etc., investors are still waiting for the removal of obstacles related to planning and land to invest capital.

The 2024 Land Law, 2023 Housing Law, 2023 Real Estate Business Law, and 2024 Credit Institutions Law, which will take effect from August 1, 2024, are expected to remove obstacles in mechanisms and policies so that projects in many fields can be implemented smoothly. However, due to waiting for decrees, circulars, and decisions from the Government, ministries, branches, provinces, and cities, there will be delays in implementation. Accordingly, many projects have not really flourished as expected by investors.

In Dong Nai, when policy problems are resolved, localities need to quickly carry out compensation and site clearance to hand over clean land to investors to implement projects.

For example, some large FDI projects are just waiting for the completion of documents and procedures to invest hundreds of millions of USD in the province, such as: Commercial Center in Hiep Hoa Ward, Amata Industrial Park Expansion (Bien Hoa City); Long Duc 3 Industrial Park, Amata Long Thanh Urban Area, Long Thanh High-Tech Industrial Park (Long Thanh District).

Dinh Son