Industrial hub Dong Nai okays 3 FDI projects worth $210 mln
Dong Nai province, a manufacturing hub in southern Vietnam, granted investment certificates Thursday to three foreign direct investment projects with a total registered capital of $210 million.
China-invested Kingfa Science & Technology (Vietnam) Co., Ltd., a plastic pellets and commodity resins maker, will invest $80 million. The two other investors are Japan-backed Wave Crest Vietnam Co., Ltd. and SMC Manufacturing (Vietnam) Co., Ltd.
The former, an electronics company, will invest $10 million and the latter, a pneumatic instrument producer, will raise its investment in the province by $120 million.
The projects will be located at the Long Thanh High-Tech Industrial Park and Long Duc Industrial Park, provincial officials said, without providing further details.
Dong Nai Vice Chairwoman Nguyen Thi Hoang (right) grants an investment certificate to Kingfa Science & Technology at a ceremony in the southern province, October 5, 2023. Photo courtesy of Dong Nai newspaper.
At the certificate granting ceremony, Dong Nai Vice Chairwoman Nguyen Thi Hoang lauded the three investors for deploying modern technologies in line with the province’s priorities.
Dong Nai, home to 33 industrial parks, attracted over 120 FDI projects with the total registered capital of $940 million in the first nine months of the year, exceeding the annual target by 34%, according to the Dong Nai Industrial Zones Authority (DIZA).
Given the trend of firms relocating from China to Vietnam, Chinese investments have been a highlight in the period with 17 new projects worth $150 million, DIZA said.
It also said that Dong Nai's industrial land availability was limited now and called on the central government to approve new industrial park projects in the province.
- Related News
- Read More
Agribank brings digital banking experience to remote areas
Agribank is a pioneer bank in investing and providing card and ATM services in Vietnam's agricultural and rural areas, meeting the needs of people in even border areas, islands, and remote areas.
Banking - Sat, May 4, 2024 | 3:50 pm GMT+7
Six miles and beyond: Vietnam draft law sets offshore boundary
Wind power plants with all turbines located six nautical miles beyond the nation’s sea area will be deemed offshore, per draft amendments to the Law on Electricity.
Energy - Sat, May 4, 2024 | 3:35 pm GMT+7
S Korea's Lock&Lock records 2023 sales of $61 mln in Vietnam
Lock&Lock (LocknLock), a South Korean manufacturer of household products, recorded sales of KRW83.15 billion ($61 million) in Vietnam last year, according to the firm’s performance review for 2023.
Companies - Sat, May 4, 2024 | 11:05 am GMT+7
Former HSBC Vietnam CEO to run mid-sized bank OCB
Pham Hong Hai, former CEO of HSBC Vietnam, has been appointed acting general director of Ho Chi Minh City-based Orient Commercial JS Bank (OCB).
Banking - Sat, May 4, 2024 | 10:49 am GMT+7
Rice stocks plunge, delist despite Vietnamese rice success in global arena
Vietnamese rice is continuing to make gains in the global arena, but domestic rice businesses are facing constant losses and plunging stock prices.
Finance - Sat, May 4, 2024 | 10:46 am GMT+7
Thailand forms AI committee to boost digital economy
Thailand's Ministry of Digital Economy and Society (DES) is advancing its plans to form a new national artificial intelligence (AI) committee as part of its effort to advance the second phase of the national AI strategy.
Southeast Asia - Sat, May 4, 2024 | 8:53 am GMT+7
Indonesia welcomes highest number of foreign tourists in four years
Indonesia’s Central Statistics Agency (BPS) recorded more than 3 million foreign tourist arrivals in the country in the first quarter of 2024.
Southeast Asia - Sat, May 4, 2024 | 8:51 am GMT+7
Thailand to switch to early morning, evening tourism amid extreme heat
The Tourism Authority of Thailand (TAT) is preparing to promote early morning and evening tourism to stabilise the market, as extreme hot weather has kept people from taking part in outdoor activities.
Southeast Asia - Sat, May 4, 2024 | 8:50 am GMT+7
Indonesia expects to earn $70 bln from exports to China
The Indonesian government is optimistic that the export value to China would reach $70 billion in 2024.
Southeast Asia - Sat, May 4, 2024 | 8:31 am GMT+7
Digital transformation, green development focuses of Vietnam logistics: official
Vietnam's logistics businesses should focus on digital transformation and green development to improve their capacity and competitiveness, said Tran Thanh Hai, deputy director of the Import and Export Department under the Ministry of Industry and Trade.
Economy - Sat, May 4, 2024 | 8:27 am GMT+7
Advance effective date of housing, realty laws by 6 months, parliament urged
Vietnam’s Construction Ministry has proposed that the National Assembly, the country's parliament, advance the effective date of the 2023 Laws on Housing and Real Estate Business by six months to July 1 this year.
Real Estate - Fri, May 3, 2024 | 10:07 pm GMT+7
Samsung launches training program to aid Vietnam’s 50,000 semiconductor talent goal
Samsung Vietnam and the National Innovation Center (NIC) jointly launched the Samsung Innovation Campus (SIC) 2023-2024, a technological talent training program, at the NIC facility in Hanoi on Friday.
Companies - Fri, May 3, 2024 | 9:44 pm GMT+7
Vietnam currency to strengthen towards year-end: UOB
Vietnamese dong (VND), the local currency, is expected to appreciate against the greenback in H2/2024, with the U.S. Federal Reserve likely to cut interest rates twice this year.
Banking - Fri, May 3, 2024 | 7:58 pm GMT+7
Most Vietnamese tourists feel guilty about less sustainable travel choices: Booking.com
A majority of Vietnamese survey respondents (56%) feel guilty about less sustainable travel choices and almost all of them (94%) want to travel more sustainably over the next 12 months.
Travel - Fri, May 3, 2024 | 5:32 pm GMT+7
Former Bank Central Asia senior executive becomes Techcombank independent board member
Eugene Keith Galbraith, a world-class banking veteran, is expected to help Techcombank achieve its vision of becoming a leading bank in the region and the partner of choice for customers by drawing on his vast experience with Indonesia's Bank Central Asia (BCA).
Banking - Fri, May 3, 2024 | 3:51 pm GMT+7
Korea industrial giant Doosan's Vietnam unit earns $29 mln profit in 2023
Doosan Enerbility Vietnam Co., Ltd., the Vietnamese unit under South Korean industrial giant Doosan, earned a net profit of KRW39.65 billion ($29.11 million) in 2023.
Companies - Fri, May 3, 2024 | 3:19 pm GMT+7
