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Saturday, July 13, 2024

Long An attracts US$470 million in FDI

The Saigon Times

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HCMC – The Mekong Delta province of Long An has attracted foreign direct investment (FDI) worth US$470 million in the year to date.

This includes the issuance of investment certificates to 39 FDI projects valued at over US$408 million, an increase of 15 projects and a capital increase of US$162 million compared to the same period last year.

The province has also approved additional capital for 35 operational projects, resulting in an increase of over US$64 million.

Long An currently hosts around 1,200 FDI projects capitalized at more than US$10.4 billion. Out of these, 588 projects worth over US$3.6 billion have already commenced operations.

Despite tough economic conditions, Long An has managed to attract significant investment, thanks to the determined efforts of various agencies in the province, said the provincial People’s Committee.

The local authorities have taken measures to improve the provincial competitiveness index. Investment promotion events have also been organized, and businesses have been supported in overcoming obstacles in key industrial development districts.

However, the number of new domestic investment projects in the province has declined, with only 32 projects approved in the year to date, compared to 53 projects in the same period last year. Despite the decrease in project numbers, the capital pledges for these projects have surged by VND22 trillion to VND35.5 trillion.

The People’s Committee of Long An Province has urged relevant agencies to expedite the disbursement of public investment funds for 2023, support local businesses in overcoming challenges, and accelerate land clearance for infrastructure construction projects.

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