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Vietnam’s Dong Nai Province gives nod to 4 foreign-invested projects worth $156mn

Vietnam’s Dong Nai Province gives nod to 4 foreign-invested projects worth $156mn

Monday, January 08, 2024, 18:24 GMT+7
Vietnam’s Dong Nai Province gives nod to 4 foreign-invested projects worth $156mn
Officials from the Dong Nai Province People’s Committee present an investment registration certificate to the representative (C) of a foreign-invested project. Photo: H.M. / Tuoi Tre

The People’s Committee of Dong Nai Province in southern Vietnam on Monday issued investment registration certificates to four foreign-invested projects with a total pledged capital of US$156.4 million.

This is the first certificate issuance to new foreign direct investment (FDI) projects in the province this year.

Among them is the SLP Park Loc An Binh Son project, situated at the Loc An - Binh Son Industrial Park in Long Thanh District.

The project is set to carry a price tag of over $121 million, and specialize in supplying warehouse and storage services.

Scheduled to operate at the same industrial park, the Freudenberg & Vilene International Vietnam - Long Thanh project, run by Hong Kong’s Freudenberg & Vilene International Vietnam Company, will be implemented at a cost of $10 million to produce kapok.

Another new FDI project getting the nod from the provincial administration is K-Upa, which is executed by South Korea’s KCTC Vina Company.

The project will specialize in goods storage services at the Nhon Trach 1 Industrial Park, with a total investment of $10 million.

Hong Kong’s Ryder Industries Limited registered to pour $15 million into an electronic production factory operated by Ryder Industries Vietnam Company. The plant will lie at the Long Thanh industrial park upon completion.

Nguyen Tri Phuong, head of the provincial industrial zone authority, said that apart from green-lighting the four new FDI projects, the province gave permission to four foreign-invested firms to revise up their capital at some operational projects worth more than $217 million. 

Representatives of new FDI projects receive certificates to invest in Dong Nai Province, a neighbor of Ho Chi Minh City. Photo: H.M. / Tuoi Tre

Representatives of new FDI projects receive certificates to invest in Dong Nai Province, a neighbor of Ho Chi Minh City. Photo: H.M. / Tuoi Tre

Speaking at the certificate handover ceremony, Nguyen Thi Hoang, vice-chairwoman of the provincial administration, said that Dong Nai Province was eager to welcome investors at the start of the year.

The province is giving priority to investments in the hi-tech, logistics, supporting technology, and infrastructure fields.

She also asked investors to pay attention to environmental protection and build a healthy working environment for employees during their operation and production period in the province.

Dong Nai attracted over $1.1 billion in foreign investment in 2023, a slight increase against 2022, according to the provincial statistics office.

The combined capital injection from 72 newly registered FDI projects amounted to over $416 million.

Capital adjustments for 88 existing foreign-invested projects resulted in an increase of more than $743 million.

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Tieu Bac - Ha Mi / Tuoi Tre News

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