IPs in Dong Nai Draw in 56 Additional FDI Projects in H1

IPs in Dong Nai Draw in 56 Additional FDI Projects in H1

Industrial parks (IP) in the southern province of Dong Nai attracted 56 new foreign direct investment (FDI) projects with combined registered investment capital of  US$336.2 million in the first half of this year.

The largest of the new projects include a  US$190-million garment and footwear factory invested by South Korea’s Pousung Company and a  US$38.7-million electronics plant invested by Japan’s Ritek.

The investment authorities of the province also licensed 52 existing projects in local IPs to raise their investment capital by  US$228.86 million, bringing up the total FDI capital the province attracted in the first half of this year to  US$565 million, a 51 per cent increase over the year-earlier period.

In a bid to lure more foreign investment, the province has sent four delegations to Japan, Taiwan, Singapore and South Korea to promote investment since the end of 2004.

Dong Nai now has 655 FDI projects with aggregate investment capital of  US$7.7 billion. Of the projects, 475 have started production, providing 200,000 jobs. The province has 16 IPs, which have leased out 60 per cent of their land area.

Vietnam & World Economy

Hanoi Plans  US$30Bln New Urban Area (D:\DUL IEU C\Nam\Pictures\Ha tang\picture 030)

The government of Hanoi is working on a plan o build the North Red River Urban Area in the capital city’s outlying district of Dong Anh at a total cost of  US$30 billion, according to the municipal People’s Committee.

The framework plan is to be completed within this month, the committee said.

Covering an area of 11,562 hectares, the urban area will become the largest new urban area in the capital city. It will have a population of between 764,000 and 769,000 people.

Construction of the urban area is divided into three stages. The first stage, lasting from 2005 to 2010, will focus on building infrastructure on an area of 1,800 hectares. The second stage, lasting from 2010-2015, will focus on expanding the area towards the Noi Bai Airport and the third stage (2015-20) will focus on completing the construction of the whole area.

Liberated Saigon