Overseas Vietnamese Enterprises Promote Investment in Dong Nai

Dong Nai is emerging as a leading locality in terms of foreign investment attraction in the south. Investment from overseas Vietnamese is part of foreign investment in Dong Nai province. Therefore, to further attract resources, in the coming time, the Vietnam Chamber of Commerce and Industry (VCCI), Ho Chi Minh City branch, will co-operate with the Overseas Vietnamese Entrepreneurs’ Association to organise a seminar on attracting overseas Vietnamese entrepreneurs’ investment to Dong Nai. Following is an interview between Vietnam Business Forum and Phan Thanh, chairman of the Overseas Vietnamese Entrepreneurs’ Association about related issues.

 

This is because Dong Nai has favourable conditions for the building of large-sized production establishments. In terms of geographic conditions, Dong Nai is located near Ho Chi Minh City in the east within the important development triangle of Ho Chi Minh City, Dong Nai and Binh Duong. The province has convenient transport conditions with short roads to the East Sea via Ba Ria-Vung Tau, so the province can meet Ho Chi Minh City’s development towards the sea. The soil in Dong Nai is suitable for building solid workshops and compensation for site clearance is lower than Ho Chi Minh City, leading to lower initial investment costs than other localities.

 

At the same time, the province has convenient communication conditions with the national highway 1A crossing it, facilitating transportation of goods from Dong Nai to Ho Chi Minh City. The province has a better ecological environment than other localities.

Many enterprises, which have invested in Dong Nai said that they chose it because the province had performed investment promotion in foreign countries. In addition, the province has developed an investment environment friendly to investors, especially overseas Vietnamese.

 

In 2005, the Overseas Vietnamese Entrepreneurs’ Association led many members to Dong Nai to explore the local investment environment. Concretely, the association introduced overseas Vietnamese investors from Taiwan, the UK, Italy and France to the Amata industrial park to seek their opportunities.

It is expected that an overseas Vietnamese investor from France will build a workshop in the industrial park before returning France. The Italian Football Trading Corporation with around 2,000 enterprises will call for its members to invest in Dong Nai after its exploration journey to the province. At the same time, many Chinese enterprises with workshops in China have asked the association for help in investment exploration in Dong Nai. These enterprises are expected to expand their production in Vietnam and they chose Dong Nai. Now, they are finalising procedures for their projects in the province.

 

I think that investment of overseas Vietnamese in Vietnam has yet reach its potential. Most projects are capitalised at between US$50,000 and US$100,000. At present, only 20 per cent of the 130 members of the Overseas Vietnamese Entrepreneurs’ Association have financial strength. However, the investment of overseas Vietnamese may encourage foreign investors to pour their money into Vietnam.