Dong Nai licenses four foreign-invested projects worth over $156 million

Singapore's Sea Fund I Investment 14 Pte. Ltd., under Global Logistics Partner, plans to invest $121.4 million into SLP Park Loc An Binh Son in Loc An-Binh Son Industrial Park (IP) to provide warehousing and storage services for logistics activities.

Meanwhile, Hong Kong-based Freudenberg & Vilene International Vietnam Co., Ltd. is investing $10 million to develop a factory producing cotton wool and cotton sheets in the Loc An-Binh Son IP.

KCTC Vina Co., Ltd. from South Korea will implement the K-Upa Vina project in Nhon Trach 1 IP to offer goods storage services with an investment valued at $10 million. A manufacturing plant from Ryder Industries Vietnam Co., Ltd. in Long Thanh IP is valued at $15-million. The factory specialises in producing electronic circuit boards, speaker systems, audio amplifiers, and remote controls on behalf of its Hong Kong investors.

In addition, Dong Nai People's Committee also awarded investment certificates to four foreign-invested projects, worth an additional $217 million, to expand their projects in the locality, while Nestlé Vietnam has added another $100 million to its coffee production factory in Long Binh IP, bringing the total investment for the project to $502 million.

Meanwhile, Kenda Rubber has injected another $80 million into its tyre factory in Giang Dien IP, increasing the total sum to $296 million.

Hyosung Dong Nai Co., Ltd. has also raised its investment capital by $19 million for its project in Nhon Trach IP V, bringing the total to $944 million. To date, Hyosung Group has invested about $2.2 billion in Dong Nai.

Likewise, Advanced Multitech (Vietnam) LLC has injected an additional $18 million into its golf equipment project in Nhon Trach III IP, bringing the total investment for the project to $61.5 million.

Nguyen Thi Hoang, Deputy Chairwoman of Dong Nai People's Committee, said, "The province welcomes investors to implement new projects as well as increase investment capital on the occasion of the New Year. We hope to entice more large-scale projects in line with the province's strategy to lure investments in logistics, high-tech while supporting industry and IP infrastructure development."

In the same vein, Nguyen Tri Phuong, director of Dong Nai Industrial Zones Management Authority (DIZA), said, "The projects that have been awarded investment certificates are vital to the development of IPs in the province. Despite 2023 being a tough year, Dong Nai's IPs attracted $1.2 billion, including 79 foreign-invested projects and 14 domestic projects with a combined value of $467 million and VND1.9 trillion ($78 million), respectively."

In 2024, DIZA aims to woo $700 million from foreign investors and VND2 trillion ($82.15 million) from domestic investors. Among the $700 million in foreign capital, the authority will lure $300 million in newly registered capital and $400 million in adjusted capital. Meanwhile, the sum from domestic investors will include VND1.5 trillion ($61.6 million) in newly registered capital and VND500 billion ($20.54 billion) in adjusted capital.

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