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FDI disbursement for early completion of Annual Plan

In the 7 months of 2020, disbursement of FDI (foreign direct investment) is nearly 710 million USD, reaching 118% of the plan. Thus, the Dong Nai’s FDI disbursement is one of the few economic indicators that have been completed and exceeded the annual plan.


sxuat.jpg
Export production at a company in Nhon Trach 3 Industrial Park Phase 2 (Nhon Trach District)

 

According to the Dong Nai Industrial Zones Authority, up to now, this province has 32 industrial parks and has attracted businesses from 43 countries and territories to invest in. In which, 1,352 FDI projects with a total registered capital of nearly USD 26.2 billion, implemented capital 20.24 USD billion.

 

Quick disbursement of FDI

 

Although COVID-19 epidemic continues to have complicated developments in Vietnam and worldwide, FDI enterprises still believe in Dong Nai's investment environment. That is represented in the registered capital of the enterprise disbursed more quickly than the original plan.

 

In 2020, the province has estimated that FDI disbursement is 600 million USD, so it has assigned the plan to the affiliated departments. However, by the end of July 2020, disbursed capital has exceeded 18% of the annual plan. It is estimated that in the last 5 months of the year, disbursed FDI may increase by several hundred million USD.

 

Mr. Pham Van Cuong, Deputy Head of Dong Nai Industrial Zones Authority, said: “Although the COVID-19 epidemic remains complicated, many FDI enterprises still registered new manufacturing industries and expanded their output markets. Therefore, these businesses have invested more capital to rent, build factories, buy machinery and equipment to increase capacity to meet orders”. According to Mr. Cuong, the field of FDI enterprises in the province registered to expand production, mainly in masks, protective clothing, gloves, and medical equipment.

 

In addition, in other areas, there are also FDI enterprises that have found new markets of orders, so they continue to increase their capital large and disburse quickly such as: The project of Crown Beverage Cans (Dong Nai) Limited in Tam Phuoc Industrial Park (Bien Hoa City) increased capital by USD 94.2 million; Longwell Co., Ltd located in Dau Giay Industrial Park (Thanh Nhat district) specializes in footwear production with an additional capital of USD 88 million to install more lines and machines to increase capacity to meet large orders.

 

Mr. Quach Thuan Duc, General Director of Junmay Label Textile Company Limited in Song May Industrial Park (Trang Bom district) said: “Many domestic and export orders have been reduced, so businesses are forced to find new partners in both domestic and export markets. Although many businesses have difficulties, among them are lucky ones still find new customers and expand production. When production is expanded, investment capital will be increased.”

 

Investment expansion of Enterprises



sxuat2.jpgExport production at a company in Nhon Trach 3 Industrial Park Phase 2 (Nhon Trach District)

 

Many FDI enterprises have promptly expanded its production and business lines to generate more revenue and jobs for employees. Specifically, enterprises in the textile and garment sector produce more fabric masks, protective clothing, and gloves for export. This is a commodity that is being imported by many countries and territories in quite a large quantities. Some FDI enterprises in Dong Nai promptly converted to sewing these products, which increased their production by 3-5 times compared to before, and the output always attracted.

 

In addition, many FDI enterprises are manufacturing rented machines and equipment, building more factories, installing more machinery to produce medical equipment and machinery for export to the United States, Japan, Korea and Europe.

 

Mr. Tran Ba Tuan, Production Manager of Daiwa Light Alloy Industry Vietnam Co., Ltd in Nhon Trach III Industrial Park phase 2 (H. Nhon Trach) shared: “The COVID-19 led a number of overseas customers to reduce or stretch their orders. Therefore, our company has to find new customers and follow orders with many different types of machinery and equipment to meet the demand of other businesses”. Due to a highly skilled team, the company easily executes new and difficult orders, so it is trusted by many other FDI enterprises.

 

According to President of Taiwan Trade Association in Dong Nai Peter Wu, some Taiwanese companies in the field of supporting industries, machinery and equipment manufacture have cooperated to open more companies and workshops to manufacture machinery and equipment for the health sector, so revenue and output are quite stability.

 

Most FDI enterprises have capital potential, more favorable than domestic enterprises to find and expand export markets,  so they can easily stay and change production direction in the epidemic to survive and develop.

 

                                                            Vi Quan

 

 

Currently, Dong Nai is one of the leading provinces that leads the country in terms of FDI disbursement. While the whole country disburses FDI nearly 60%, Dong Nai reaches 77%.

 

 

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