Dong Nai (VNA) - The southernprovince of Dong Nai has so far attracted 1,378 foreign-invested projects withtotal registered capital of 28.5 billion USD, according to the provincialPeople’s Committee.

Tran Van Vinh, Vice Chairman of the provincial People’s Committee said thelocality has made every effort to lure foreign direct investment (FDI),contributing to its socio-economic development.

As much as 20.5 billion USD of FDI has been disbursed so far, 70.3 percent oftotal registered capital.

To date, Dong Nai has lured FDIprojects from 45 countries and territories, of which the Republic of Korea,Taiwan (China), and Japan and Singapore are the leading investors, respectivelyaccounting for 20.7 percent, 16.5 percent, 15.4 percent and 12.3 percent ofinvestment poured into the locality.

Vinh said FDI projects mainly focus on industry, manufacturing and processing (84percent of total projects); real estate (12 percent); trade and services (3.5percent); and agriculture (1.5 percent).

FDI has become an important resource for the locality’s development, contributingto boosting its economic growth and accelerating economic restructuring.

Vinh said through developing industrial parks (IP), Dong Nai has witnessedbreakthrough development in industry, with industrial production scale increasingby 200 times compared to 1985.

Industrial development has helped promote other sectors in the locality. DongNai’s GRDP has expanded by an average 12 percent annually.

The province’seconomy structure has changed rapidly in the direction of smaller proportion ofagriculture and higher proportion of industry and services. Per capita incomehas increased by more than 16 times, exceeding 4,000 USD per annum.

FDI enterpriseshave made great contributions to the locality’s budget, hitting 27 trillion VNDin 2018, 57 percent of total budget collection.

Foreign investment has also helped promote the infrastructure development inDong Nai. Many key transport projects have been implemented in the locality, includingHo Chi Minh - Dau Giay, Ben Luc - Long Thanh and Dau Giay - Phan Thietexpressways and gateway transport routes in the southern key economic area.

Through FDI enterprises, local authorities have set up closer relations with internationalorganisations. The FDI sector has generated jobs for more than 600,000labourers, contributing to poverty reduction in the locality.

According to Mai Van Nhon, Vice Director of the Management Board of IPs in DongNai, the locality will continue to prioritise high-tech and environmentallyfriendly FDI projects and those in support industry.

Vinh said Dong Nai will continue to build modern technical infrastructuresystems and call for FDI projects with high added value and those in urbandevelopment and services.-VNA