Southern Vietnam province axes 37 foreign projects: report

Thanh Nien News

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Nhon Trach Economic Zone in the southern province of Dong Nai. File photo Nhon Trach Economic Zone in the southern province of Dong Nai. File photo

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One of Vietnam's top destinations for foreign investment, the southern province of Dong Nai has scrapped 37 projects worth over US$50.3 million this year, news website Bao Dau Tu reported on Tuesday.
A majority of the projects were abandoned by their investors, the province's Department of Planning and Investment was quoted as saying.
The rest were either delayed for more than a year, or canceled by the investors, the department said.
Dong Nai authorities have licensed 1,517 foreign-invested projects with a combined capital totaling nearly $27.77 billion. However, 23.5 percent of the projects have been canceled, either by their investors or by the province. 
Dong Nai recorded the third highest foreign direct investment inflow in the January-September period. A total of $1.6 billion was registered with local authorities, accounting for 9.36 percent of the country's total FDI pledges.

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