Dong Nai is a promising destination for foreign investors, especially US investors

Before the delegation started its mission, Dong Nai Newspaper had an exchange with Ms. Dang Thi Kim Nguyen who is responsible for the foreign affairs of Dong Nai province.

Vice Chairwoman of the provincial Peoples Committee Dang Thi Kim Nguyen and investors of OPV project.

Q: Could you tell me the differences between this trip and the previous one?

A: There are many differences but the most significant thing is that we have to carefully prepare because we know that there are a large number of US investors who still do know about investment environment in Vietnam in general and Dong Nai in particular. We also have it in our minds that US investors’ requirements are higher than that of any foreign investors.

Q: What is the purpose of this trip?

A: We want to introduce to potential investors in US an image of Vietnam and Dong Nai which are on the way of modernization and industrialization. An image of a country which rapidly develops and has an stable political and social security environment and is in need of cooperation and investment as to have fully developed. As for Dong Nai, although it has rapid growth rate of industrial development, it still wants more investments into high-tech industry, particularly auxiliary industries, as to enhance its development.

Q: Despite having a handful of investment projects of US investors, Dong Nai had attracted some 8 billion USD. What is the target that the delegation should achieve in this trip?

A: We don’t set concrete target that how many contracts have to be signed with US investors in this visit to the US. The United States of America is considered as the most powerful country. It’s a good place for us to call for investments from US investors into Vietnam and Dong Nai. We will help them to realize investment opportunities which are suitable to the development targets of Vietnam and Dong Nai and have great profits for them. We were informed that Many US investors from Michigan, Chicago and other localities in the USA know very little about Dong Nai province. They can’t find Dong Nai in Vietnam map. Therefore, we want to send a message to US investors that Dong Nai is an promising destination for foreign investment.

Q: US investors are very practical in their businesses. How can you answer them if they question you why should they invest into Dong Nai?

A: I will tell they that Dong Nai has two significant things in term of land and human resource. Dong nai still has a abundant source of land reserving for investments. Dong Nai is willing to cooperate in training human resource for their projects. Besides, it located in a strategic position in Vietnam and is near many important ports and airports such. Especially when Long Thanh international airport come into operation in 2010, it just takes 4 hour to fly from Dong Nai province to neighboring regions and countries such as China, ASEAN and Japan,

A: What are the preferential policies offered to foreign investors?

A: The accompany of some American investors from Cargill, OPV, Gannon and Nike who are having good businesses in Dong Nai will be realistic examples. They will objectively tell about our cooperation and support for the implementation and development of their projects. As for investment incentive policies, we has consistently implemented the Government’s policy on foreign investment. Besides, we has vigorously conducted many administrative reforms as to create favorable investment environment as well as to shorten time in administrative works. We have shortened the time for approving an investment license from 7 days  which is ruled in foreign investment law into just 2-3 days. In fact, there are many cases which is granted license within 24 hours. We are accelerating the administrative reforms by using “one-shot” mechanism on implementing laws and regulations on governing operations of foreign investment. We always accompany with them for their long haul. Especially, in the near future we will put into use an Internet-based registration system where foreign investors can submit their applications for investment licenses. Presently, we have just launched a website http://consult.dongnai.gov.vn that provides useful information for both domestic and foreign investors. Please remind that, Dong Nai has absorbed approximately US$8 billion of FDI with nearly 700 investment projects. Especially, Nike group has invested a few hundred million dollars in producing athletic footwear at factories of its subcontractors. FDI projects created jobs for 70,000 labors. Dong Nai emerges as safe and attractive destination for foreign investors.

(Source Dong Nai Newspaper)