Quang Nam welcomes 10 new FDI projects as of mid-October

As of mid-October 2024, south central Quang Nam province boasted 201 active foreign direct investment (FDI) projects, representing a total registered capital of $6.35 billion. Since the beginning of the year, the province has welcomed 10 new FDI projects with a combined registered capital of $134.85 million.

Foreign investors from 30 countries and territories have so far established operations in the locality, primarily focusing on production and business services. Singapore leads the pack with eight projects and a total registered capital of $4.11 billion, followed by South Korea with 59 projects and nearly $950 million. China and Japan have also made significant investments, with 45 projects and $413 million, and 19 projects and $140 million,  respectively.

Notable large-scale FDI projects in Quang Nam include Hoiana ($4 billion), Hyosung ($450 million), Groz Beckert ($110 million), Panko Tam Thang ($70 million), and The Nam Hai ($35 million).

These FDI projects have not only generated employment for approximately 57,000 local workers but also contributed substantially to the provincial economy. In the first nine months of 2024, FDI enterprises in Quang Nam contributed VND983 billion ($38.7 million) in taxes.

Mr. Nguyen Hong Quang, Head of the Management Board of Economic Zones and Industrial Parks of Quang Nam province, expressed optimism about the future of FDI in the region. He believes that the continued development of FDI businesses will play a pivotal role in driving Quang Nam's socio-economic growth and attracting even more investors.