Industrial parks draw US$780m in FDI in Vietnam

Investments into industrial parks (IP) in Đồng Nai, a southern province, have been robust since the start of this year, with nearly $780 million in foreign direct investment (FDI) and over VNĐ2.2 trillion (equivalent to $91.8 million) in domestic capital being infused.

The statistics were disclosed during a recent meeting between the provincial People’s Committee and local IP infrastructure investors. During this session, concerns raised by investors about issues such as slow land clearance, inadequate transport connectivity, and elevated land leasing expenses were taken into serious consideration. The authorities in this pivotal industrial hub of the southern region have charged relevant departments and local administrations with addressing these challenges effectively in the near future.

As outlined in the approved plan, Đồng Nai encompasses 40 IPs spanning approximately 19,000 hectares. Presently, the province accommodates 32 functional IPs, demonstrating an occupancy rate surpassing 85 percent. The remaining IP projects are still pending due to various hurdles encompassing investment procedures, the transformation of rubber plantations and forest lands, auction and bidding processes, and zone planning.