Dong Nai FDI favours high-tech, support industries
(VOV) - Dong Nai is expecting US$700–900 million in foreign direct investment (FDI) capital over 2014, much lower than the US$1.6 billion total seen last year.
Provincial Department of Planning and Investment Director Bo Ngoc Thu said the province will focus its resources on technologically advanced, environmentally friendly projects in support industries, agriculture, services, and infrastructure.
Thu explained its lower FDI target reflects the labour costs saved by technology. Yet, the capital goal does not include FDI projects applying to extend their capital in 2014.
Dong Nai plans to encourage the use of environmentally friendly technologies and shift industries away from labour intensive means of production to modernised, technologically advanced industrial structures.
Authorities will stimulate green agricultural development projects incorporating bio-technology and GAP production processes.
Mai Van Nhon, Deputy Head of Dong Nai’s Industrial Zone Managing Board, said the province has already recorded US$140 million in FDI capital during the first 20 days of January. The figure includes four new projects worth US$70 million and 17 existing projects registering US$70 million in additional capital.
The projects, all of which apply advanced and environmentally friendly technology, follow provincial guidelines.
