Dong Nai plays an important role in economic growth of Southeast region

​In the economic growth of the Southeast region, Dong Nai plays a very important role. Therefore, the province's high GRDP growth will greatly contribute to the economic recovery of the region as well as the whole country.

Producing garments for export at Dong Nai Garment Corporation

According to the Ministry of Planning and Investment, in the first nine months of 2022, the GRDP growth of the Southeast region averaged nearly 9.2% over the same period last year, higher than the national average. The GRDP growth of the provinces and cities in the region is not much different, proving that the region's economic recovery and development is relatively even.

*Dong Nai in the top of the country

 The economic quadrangle of the Southern Key Economic Zone including: Ho Chi Minh City, Dong Nai, Binh Duong, Ba Ria-Vung Tau plays a very important role in the economic development of the region as well as the whole country. This is an area with developed industry, export, trade and service; budget revenue, attracting large foreign direct investment (FDI) of Vietnam.

 
According to Minister of Planning and Investment Nguyen Chi Dung, in the first 9 months of 2022, Vietnam attracted more than USD 18.7 billion in FDI. FDI investors have invested in 53 provinces and cities across the country. Among them, Ho Chi Minh City leads the country with a total registered investment capital of nearly USD 3 billion, accounting for nearly 16% of total registered FDI capital and increasing by more than 26% over the same period in 2021. The second place in attracting FDI is Binh Duong with a total registered capital of over USD 2.7 billion, accounting for 14.4% of total capital, an increase of over 58% over the same period.

Dong Nai ranked seventh in attracting FDI with USD 912 million. Thus, the Southeast accounts for nearly 40% of the total FDI capital invested in Vietnam. FDI inflows into this area are mostly in the industrial sector, so the export and trade surplus of this region also accounts for a large proportion compared to the whole country. Accordingly, for many consecutive years, Ho Chi Minh City, Dong Nai, Binh Duong, Ba Ria-Vung Tau have always been in the Top 6 leading provinces and cities nationwide in terms of state budget revenue.

 Chairman of the Provincial People's Committee Cao Tien Dung said: "Since the beginning of 2022, Dong Nai has implemented economic recovery solutions, step by step remove difficulties for enterprises to operate, so industrial production and export keep a good growth rate. GRDP in the first 9 months of this year had high growth, total budget revenue was nearly VND 48.1 trillion, reaching 87% of the estimate, 77/121 communes achieved new advanced rural status. Dong Nai continues to strive to fulfill and exceed socio-economic targets according to the annual plan.

 *Will continue to keep high growth

 The Southeast region is considered as the leading area in the economic development of the country. Therefore, if this area maintains a stable and high growth economy, it will contribute greatly to the economic growth of the country. Domestic enterprises and FDI groups said that this area is very convenient to invest in industry, trade and services, logistics and real estate.

John Rockhold, President of the American Chamber of Commerce in Vietnam, assessed: “In the context of the global economic downturn, Vietnam rose to become the second-ranked country in the world in terms of economic resilience and high GDP growth. This will attract FDI enterprises to invest in Vietnam in many fields. The Southeast region continues to be home to many US enterprises as well as other FDI enterprises that want to invest in."

 With a series of advantages in road, rail, waterway, air traffic and large ports, this region in the future will still be a place with a fast-growing economy. However, according to economic experts, in order to promote GRDP growth even higher, the Government must prioritize more capital to accelerate the progress of projects on transport infrastructure and connectivity.

 Mr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City said: “Currently many Indian businesses are looking to invest in Dong Nai as well as other provinces and cities in the Southeast. The fields of Indian businesses that want to invest in this area are industry, tourism, healthcare... The Consulate General of India in Ho Chi Minh City will create conditions for Indian businesses to learn about the investment environment in the region to choose where to place their projects accordingly".

 Currently, most of the large domestic and FDI corporations and enterprises have set up production plants, company headquarters, and transaction offices in the Southeast to facilitate the transportation of goods to the whole country and export. In the coming time, when the highways are completed to connect each other, Long Thanh International Airport comes into operation, the Southeast will become the most dynamic economic region in the country and had a remarkable growth..