Dong Nai is still considered an attractive destination by businesses

​(News Portal - Dong Nai) - Recently, many domestic and foreign enterprises have come to Dong Nai in order to discuss investment projects in the province with leaders of province, departments and offices.

The agricultural project in Long Thanh district invested by Commercial Investment Joint Stock Company 939 

Despite the fierce competition between provinces and cities, Dong Nai is still an attractive destination for businesses. Businesses want is that the province needs to further improve the simplification of administrative procedures, creating opportunities for businesses; and investing to better the existed infrastructure.

Dong Nai's attractiveness is still great

According to a report by the Provincial People's Committee, in terms of attracting foreign investment, from the beginning of the year to July 31^st, industrial parks (IPs) in the province have attracted more than 779,6 million USD. The unusual thing is that this additional capital is mainly used by existing operating businesses to expand production factories and invest in machinery and technology. New investment projects, although small in scale, focus on supporting industries, an area in which Dong Nai is promoting investment.  

At the same time, the investment capital of domestic enterprises has prospered again. According to the Dong Nai Statistics Department, in the first 7 months of this year, the total domestic investment capital registered for investment certificates and investment policies (excluding projects winning auctions and bidding) and adjusted to increase capital of more than 6.7 trillion VND, 13,9 times higher than the same period in 2022. Of which, 17 new projects were granted with a total registered capital of more than 5.9 trillion VND and 7 additional projects of 796 billion VND.

In March 2023, dozens of businessmen and businesses from the Vietnam Gold Star Club came to look for investment opportunities in Dong Nai. General Director of UDIC Urban Infrastructure Development Investment Corporation (Hanoi City) Nguyen Van Luyen said that businesses were interested in developing housing projects, including social housing projects in Bien Hoa City. Through received information, businesses knew that Dong Nai had planned the area of Tan Hoa and Long Binh wards to build social housing. Therefore, businesses wanted to find out more information from relevant local agencies to be able to access and have appropriate plans.

Vice Chairman of Dong Nai Import-Export Association Nguyen Duy Hung said that through working with partners from Hanoi, the Hanoi Logistics Association is now looking to invest in a logistics complex in Dong Nai.

Recently, a potential investor proposed implementing high-tech agricultural production projects in Long Thanh and Cam My districts with large capital.

It is necessary to continuously improve the investment environment

According to assessments of businesses that have been investing in the province, Dong Nai has many potentials and advantages. Recently, competition in attracting investment between localities has become increasingly fierce. Compared to neighboring localities in the Southeast region, Dong Nai's advantages have declined. If there are no continuous improvement solutions, it will be more difficult to attract investment.

General Director of Sonadezi Long Binh Joint Stock Company Nguyen Ba Chuyen said that the company was the owner of a number of industrial parks (IPs) such as: Bien Hoa 2, Go Dau, Thanh Phu, Xuan Loc and leased large areas in Ba Ria – Vung Tau. In the province's industrial parks, secondary enterprises investing in are still encountering some difficulties. In Xuan Loc industrial park, an investor has wanted to expand the factory for 3 years but the procedure has not been completed. This has affected the production and business plans of said business and they had complained to the infrastructure investment company. Or like Thanh Phu industrial park, the process of compensation and site clearance has lasted for 13 years and is still not finished. These issues will make investors consider when investing in projects in the locality even though Dong Nai has many advantages.

Also according to Mr. Chuyen, many investors asked about the commitment to complete the procedures, but the infrastructure company could not give specific answers, so it also lost part of its attraction.

Sharing the same opinion, General Director of Long Duc Investment Co., Ltd. Hiroyuki Ishii (investor of Long Duc Industrial Park) said that Dong Nai needs to be compared with localities that had developed many industrial parks and attracted huge investment. To continuously maintain its position as the top destination, the locality needs to strongly improve the progress of implementation of related works after the approval of main investors. This both creates attraction for the business community and affirms the province's position in relation to other provinces and cities. ​