Hanoi (VNA) – The southernprovince of Dong Nai has seen swift disbursement of foreign direct investment(FDI) which surpassed the province’s plan, said local officials.

In the first 10 months of 2019, more than 1billion USD of FDI capital was disbursed, mostly in industrial production. Theprovince has set the target for the entire year at 1 billion USD.

The provincial Department of Planning andInvestment said the province is now home to 1,447 valid FDI projects with totalregistered capital of 29.8 billion USD.

Nearly 24 billion USD have been disbursedso far.

Head of the province’s industrial parkmanagement board Cao Tien Sy said among projects with high disbursement rate,more than 60 percent are in the supporting industry, which is the province’spriority.

Earlier this year, Japanese Fujitsu companydisbursed an additional 60 million USD to expand its electronic componentproduction line.

In 2018, Germany’s Bosch discharged 71 millionUSD to expand a factory at the Long Thanh industrial zone to produce automobileparts.

The rapid disbursement of investmentcapital has contributed to a high growth in industrial production.

Dong Nai has seen an annual growth of over8 percent in industrial production index, and 13 percent in export revenue.Contributions to the State budget by FDI firms in the province have increasedby about 20 million USD per year.

Businesses from 45 countries andterritories have invested in the province, with the Republic of Korea, Taiwan(China) and Japan leading the way./.