Dong Nai attracts FDI for more than 30 years
- Tuesday - 27/10/2020 16:44
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Dong Nai started to approach FDI capital in 1989. Dong Nai's first FDI project was granted an investment certificate on September 30, 1989 in the field of taxi transport service in which the State Committee for Cooperation and Investment granted the certificate to Vatadona Joint Venture Company. From 1989 to 1993, it is considered as the period of accessing FDI capital. There were large foreign investment projects of Vedan, Vmep, and Hualon groups; however, most of them were still in the construction phase, their impact on socio-economic efficiency was not clear.
Ajinomoto
Vietnam Co., Ltd. invested in the province quite early
From 1994 to 1998, this was the period for FDI inflows to develop, creating a huge breakthrough in industrial growth and other areas of the socio-economy in Dong Nai with numerous projects of major investors such as Fujitsu, Kao, SamSung, Kolon, Chrysler, CP, Cargill and so on. Dong Nai is considered by the Government as one of the very first places in Vietnam to welcome the wave of FDI.
In the period 1999-2000, the whole world was affected by the financial and monetary crisis, the economic slowed down and faced difficulties, leading to the effect of FDI inflows into Vietnam. Because the level of Vietnam's global economic integration at that time was not extensive, the level of investment decline in Dong Nai was mainly indirect. Newly issued projects remained stable but their capital was reduced and mainly small and medium scale projects.
FDI capital invested in the province started to grow steadily from 2001 to 2010. Over 9 billion USD was drawn in the period, with an average registered capital of 900 million USD per year. The largest investment project in the period belonged to Formosa Group (Taiwan) with an investment of 951 million USD, Hyosung Vietnam Co., Ltd with an investment of more than 563 million USD and projects in the field of real estate such as Long Tan - Phu Hoi Residential Area Project of 290 million USD, Complex project and 5-star hotel of 100 million USD, Water Front residential project of 750 million USD and Aqua City residential project of nearly 519 million USD and so forth.
From 2011 up to now, it is the period of attracting investment in FDI projects in the direction of giving priority to supporting industries, manufacturing machinery and equipment, and manufacturing industries with less environmental pollution, high technology, etc. This period has attracted more than 10 billion USD. There are many large projects and industries in the fields of high technology, supporting industries, and healthcare like Lixil Vietnam Corporation with an investment of 441 million USD, Terumo BCT Co. Ltd of nearly 100 million USD, SMC Manufacturing (Vietnam) Co., Ltd. of more than 111 million USD, Volcafe Co., Ltd of 80 million USD, Hyosung Dong Nai Co., Ltd of 660 million USD, Shing Mark hospital project of 80 million USD, etc.
According to economic experts, in the next 5 years, if Dong Nai prepares well for industrial development by establishing more industrial zones, it is expected to welcome a large wave of FDI from China.
Vi Quan