Dong Nai Expands Industrial Horizons: A Strategic Move for Future Growth
The Dong Nai People’s Committee has recently issued a call to local authorities, seeking feedback on an ambitious plan that aims to develop three additional industrial zones (IZs) spanning a total area of 6,475 hectares. This move reflects a determined effort to strengthen the region’s industrial infrastructure and meet the growing demand for industrial land.
The Planned Industrial Zones
The three proposed industrial zones include:
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Long Duc 3: Covering an area of 253 hectares, this zone is set to enhance the current industrial landscape in the region.
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Bau Can-Tan Hiep: This expansive zone will span 2,627 hectares in Long Thanh district, designed to accommodate larger enterprises looking to invest in the area.
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Xuan Que – Song Nhan: Located in Cam My district, this zone will cover 3,595 hectares, catering to various industries and fostering economic growth.
These developments were sanctioned by the prime minister, marking a key milestone in the master plan for developing high-tech industrial zones through 2020 and extending the vision towards 2030.
Addressing Overcrowding in Existing Zones
The impetus for developing these new zones comes from the current overcrowding issues faced by existing industrial areas. Dong Nai has witnessed a rapid industrial growth rate over the past year, leading to an average occupancy ratio of approximately 80 percent in current zones. Out of 35 planned industrial parks, 31 are currently operational, with 20 of them already at full capacity.
The existing smaller industrial zones are unable to meet the needs of larger companies, particularly those seeking to expand their operations. As a response to this gap, the provincial government has proposed not just the expansion of existing zones but also the establishment of new ones to attract more significant investments.
Investment Trends and Goals
In light of its ambitious plans for industrial development, Dong Nai has set a target for 2021 to attract about $700 million in foreign investment and VND 2 trillion (approximately $86.96 million) in domestic investments. This focus on investment is bolstered by the province’s track record in 2020, which saw the attraction of 66 foreign-invested projects worth $402.27 million and 26 domestic projects totaling over VND 2.3 trillion (around $100 million).
Dong Nai’s Position as an Industrial Hub
Dong Nai is strategically situated as one of the major industrial hubs adjacent to Ho Chi Minh City. Its proximity to this bustling metropolis has made it an attractive destination for foreign direct investment (FDI), especially as businesses look to shift their operations to more accommodating environments. Alongside Binh Duong and Long An, Dong Nai is accelerating the planning and development of its industrial infrastructure, aiming to remain competitive in the evolving market landscape.
This proactive approach signifies not only Dong Nai’s commitment to enhancing its industrial capacity but also its recognition of the changing dynamics of global investment. With a forward-looking strategy, the province is well-equipped to cater to the needs of both local and international investors in the industrial sector.
Conclusion
While there is no conclusion provided here, it is clear that Dong Nai’s focus on expanding its industrial zones is a strategic move poised to enhance its economic landscape. By addressing the current limitations of existing industrial zones and anticipating future growth, Dong Nai is setting a solid foundation for its industrial future, thereby encouraging both domestic and foreign investments.