Dong Nai: FDI disbursement surpasses year target

Disbursement of foreign direct investment (FDI) capital from the beginning of this year in the southern Dong Nai province has reached nearly US$800 million, surpassing targets for the year, according to the provincial Department of Planning and Investment.

The figure represents 50 percent of the total registered capital, the department said, adding that the majority of disbursed FDI capital comes from Japan, Taiwan, the Republic of Korea and is focused in the manufacturing, processing and electronic industries.

Cao Tien Dung, director of the department, said FDI disbursement in the first nine months was high and stable.

The southern province attracted US$1.6 billion in FDI capital since the beginning of this year, surpassing its target of US$1 billion set for the whole year.

Dong Nai has lured a large number of FDI business over years, partly thanks to its position is the southern key economic region and convenient transport network.

It has worked to reform administrative procedures, with many of administrative units applying e-services, reducing the time for granting investment licences and processing required documents by one third or by half compared with the government standards.

Source VNS