In early years attracting foreign investment inflows, Dong Nai targeted Taiwanese partners since Taiwan’s economy had strongly expanded since the 1970s with great success stories in development of export processing zones and attraction of foreign investment. In order to communicate with Taiwanese partners as a legal status, Dai Dong Company (a Sonadezi’s predecessor) was established.
Sonadezi was then honored to be personally advised by the Chairman of the Provincial People’s Committee (PPC) Huynh Van Binh. He advised, supported and created all conditions for its growth since its early days to overcome numerous difficulties.
Mr. Huynh Van Binh (on the left) on a visit to Sonadezi
Given no office space at the Company after its establishment, the PPC Chairman requested the PPC Office (then managing Bien Hoa Club guesthouse) to allocate some rooms at Bien Hoa Club to the company to set up an office. The PPC Chairman Huynh Van Binh also allocated part of its limited local budget to the Company to cover its operating expenses.
Despite poor physical conditions at that time, all working at the Company were feeling energized as they were often visited and encouraged by the Advisor during his progress checking missions. On the last days of the fiscal year, the PPC Chairman was on duty at the Department of Finance to urge documentation of revenues to the end of the year. He would go home for some rest only after operating expenses of Dai Dong Company had been included in the next year budget plan
Deployment of initial foreign investment projects revealed one of Dong Nai’s fundamental weaknesses, i.e. absence of legal documents guiding the implementation of the Law on Foreign Investment. At the proposal of Dai Dong Company (then renamed Dong Nai Industrial Development and Investment Company), the PPC Chairman allowed the Company to engage experts from central ministries from Hanoi. And he personally welcomed this group of experts when they came to Dong Nai, sharing difficulties that Dong Nai, including Dong Nai Industrial Development and Investment Company, was facing, for which it was seeking urgent solutions.
Mr. Huynh Van Binh received the 60-year Party membership badge
The Advisor requested that “if you have any request, report it in writing to the PPC and PPC Chairman will address it, if there are no rules, we will set the rules then”. Given this endorsement and strong support of the group of experts, the “Temporary Regulations on Industrial Park Management” was developed and first applied in Dong Nai. This was like version 1 of Decree 192 of the Government on Regulations on Industrial Park Management.
The “Temporary Regulations on Industrial Park Management” addressed legal barriers faced by the Company, enabling it to successfully attract a number of joint venture and FDI investment projects in its industrial parks. Sonadezi’s successes must first be attributed to its respected advisor Huynh Van Binh