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Big groups select Dong Nai as an investment destination

Updated 03/08/2015
Since late 2014, many domestic and foreign groups have officially selected Dong Nai as a destination for of millions of dollars. They share common comment that: Dong Nai is being a potentially lucrative area for industry, agriculture, service development. 

Only in short time, some big groups have officially invested from dozens to hundreds of million dollars, such as: CJ Group, Hyosung (Korea), Amata (Thailand), Forval (Japan), Vingroup, Hoa Phat (Vietnam). Etc. Also, some groups from America, Singapore, Taiwan, Dubai.. come Dong Nai to  learn business policy, business line with the intention of investment in here.


 

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 Japanese enterprise leases production workshop in Nhon Trach 3 Industrial Park invested by Tin Nghia Corporation, Japanese Forval Group and Dong Nai Container Terminal JSC
 
 * Attract various projects
According to Department of Planning and Investment, Dong Nai has lured $ 1.7 billion of investment for nearly seven months in 2015; in which, more than $ 1.1 billion comes from FDI companies, and more than $ 600 million comes from domestic companies. Hyosung Group reaches the top with total $660 million for the construction of textile factory in Nhon Trach district.   Followed Hyosung Group is Amata Group with Long Thanh High-tech Industrial Zone Project which is worth $282 million.
General Director of Long Thanh High-tech Industrial Zone, Kiatthanakorn Surakij said: “This project is to lure investment from high-tech companies from Korea, Thailand, Japan, Europe... The more high-tech develops, the more investors and Dong Nai Province benefit, as high-tech requires few labors but creates high added value”. After success with textile factory in Dong Nai, Hyosung Group has further invested factories with terribly large capital of $ 660 million to benefit from FTA, wait in front for TPP and Vietnam-EU FTA to be signed in future. Under the regulation, where textile, garment companies in Vietnam want to enjoy tariff incentives when exporting to United States and TPP members, raw materials are required to be locally produced or imported from member countries. Therefore, exporters to United States will return to seek for local materials and Hyosung stays ahead of the game.  
Cattle food production factory of CJ Group located in Dau Giay Industrial Zone (Thong Nhat district) worth around $20 million was inaugurated in late July, 2015. CJ Group intends to expand investment in Dong Nai in cattle-breeding, services and agriculture product processing. “We have currently grown Chinese cabbage, chilly in Lam Dong, Binh Thuan, and we are working to seek for a location to build kimchee production factory for sale in Vietnam and for export. I think Dong Nai is the most ideal to build factory. Also, we have intention of developing cattle-breeding, commercial center in Dong Nai”, said Chang Bok Sang, President of CJ Group.
 
* Attractive destination
 
Dong Nai shows advantages in convenient transportation, favorable climate, fertile soil and fast-growing industrial zone for industrial, agricultural and service development. As a result, it makes many big local and foreign companies to keep a keen eye on to seek for investment destination. In late 2014, after spending nearly VND 300 billion  to bid the golden land parcel in Pham Van Thuan street (Bien Hoa city), in early 2015, VinGroup invested nearly VND 600 billion to build Vincom Commercial Center expected to be completed and opened in late August, 2015. 
 
Mr. Le Khac Hiep, Vice president of Vingroup stated: “As Dong Nai is densely populated, our investment in Vincom commercial Center in Bien Hoa city will fruit. Additionally, Vingroup signed with Dong Nai Food Industry Corporation in high-tech agriculture”. Founded in Ukraine, 1993, Vingroup started investment in Vietnam in tourism, real estate, services from 2000 with 2 strategic brands of Vincom and Vinpearl. The group has lately expanded its investment in agriculture.
 
Lately, Forval group has officially joined with Tin Nghia Corporation to found Japanese SMEs Development JSC in Nhon Trach 3 Industrial Zone (Nhon Trach district). The company intends to build workshops for lease by Japanese SMEs for production and supply of attached services. Mr. Okubo Hideo, President of Japanese Forval Group said, “Our group joins with Tin Nghia Corporation in workshop building, attracting Japanese SMEs for the production of support industry. It is expected to be leased by about 100 Japanese enterprises”. Deputy Chairman of People’s Committee, Nguyen Phu Cuong, there will be gradual rise in investment in industrial zones, especially areas such as Trang Bom, Thong Nhat, Long Khanh as Hochiminh city-Long Thanh-Dau Giay highway put into use, shorten goods transportation time for enterprises.   
                                                                                                                           Huong Giang

 

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