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Dong Nai’s economy grows strongly

On October 1st, Chairman of the Provincial People’s Committee, Mr. Dinh Quoc Thai presided over the meeting session on the socioeconomic development for the first 9 months of 2015. Over the last 9 months, all aspects of the province’s economy have met and exceeded the planned targets.​


Over the last 9 years, Gross Regional Domestic Products of the province has increased by 11.3% over the same period last year. It is expected to reach 63,800 billion dong by the end of the year, increasing by 11.7% year over year.
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Chairman of the Provincial People’s Committee Dinh Quoac Thai is making his speech at the meeting

* Many new enterprises have been established
 
According to the Department of Planning and Investment, until December 12th 2015, there were 1,840 new enterprises established in the province, increasing by 26% over the same period last year with the total capital of 7,500 billion dong, increasing by 17%. Besides, the province recorded 378 turns of registration for capital supplement with more than 3,400 billion dong from enterprises.
 
The Deputy Director of the Department of Planning and Investment, Mr Phan Minh Thanh stated that: “The Corporate Law 2014 taking into effect on July 01st 2015 has created much more favorable conditions for new enterprises establishment and business or operation extension. Therefore, there has been a sharp increase in new enterprise establishment recently”. The new Corporate Law has simplified all procedures for registration of new establishment and operation and business extension. 
 
* Export sets a new record
 
According to the Department of Statistics of Dong Nai province, the export turnover for the first 9 months of 2015 reached 10.8 billion USD, increasing by 11.3% over the same period last year. Contributing to this result, some of industries that saw an increase in export included: footwear, textile, wood and wooded products, computer products, electronic components… Major export markets were the traditional markets of the province which included: the US, Japan, Korea, Hong Kong, Germany… Highly imported categories of Dong Nai province included: machinery and equipment, iron and steel, all kinds of yarn… serving the needs for production.
 
Deputy Director of the Dong Nai Department of Statistics, Mr. Tran Quoc Tuan said that: “Since the beginning of this year, the enterprises’ exports seem to be doing pretty well, many enterprises have received large orders, which potentially leads to the continuous increase in the province’s export turnover in quarter IV”. The province’s export turnover is targeted to reach nearly 15 billion by the end of 2015.
 
* Domestic and overseas investment capital grows strongly
 
At the session, Vice Chairman of Dong Nai Industrial Zone Authority, Mr. Mai Van Nhon said: “Until October 1st 2015, the province’s foreign direct investment (FDI) attraction reach more than 2 billion USD, which almost doubled this year’s target. Most of foreign enterprises making investment in Dong Nai province possess advanced technology and suitably invest in the industries which are being prioritized to attract investment by the province”. Until early October of 2015, there were totally 1540 FDI projects granting investment certificate with the total capital of 28 billion USD.
 
As for domestic investment attraction, until September 15th 2015, the total capital registered for investment certificates reached 8 thousand billion dong, increasing by nearly 2% over the same period last year, in which there were 25 projects granting new certificates and 6 projects applying for capital increase. Until mid-September of 2015, in the province there were 635 domestic investment projects granting investment certificates with the total capital of 169 thousand billion dong.
 
Chairman of the Provincial People’s Committee, Mr. Dinh Quoc Thai said that in September of 2015, the province’s economy grew steadily, especially some industries saw a sharp increase. However, Vietnam is taking its steps into deep integration into the world economy, all departments and sectors must pay more attention to administrative reform to attract more investors. Particularly, agriculture sector must come up with proper management policies to improve its competitiveness. National security and defense and education sectors were going smoothly for the first 9 months of deployement.

Huong Giang
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