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July 10, 2007

Japan pledges to help VN manage FDI
Japan’s government has agreed to fund a project making it easier for foreign firms and organisations to invest in Vietnam.

A deal to this effect was inked in Ha Noi on July 9 by Phan Huu Thang, director general of the Foreign Investment Agency under the Ministry of Planning and Investment, and Hiroaki Nakagawa, a representative of the Japan International Cooperation Agency.

The three-year project aims to strengthen the Foreign Investment Agency’s capacity to effectively manage and promote foreign direct investment. Provincial-level Department of Planning and Investment and industrial zone management boards from Ha Noi, Vinh Phuc, Hai Phong, Da Nang, Ho Chi Minh City, Dong Nai as well as the Hoa Lac and Sai Gon Hi-Tech Parks will also benefit from the programme.

Project leaders will first establish an information management system that can be shared with relevant organisations. The second stage will focus on training human resources whose jobs involve managing, advertising or processing FDI.

The project is expected to further improve Viet Nam’s investment environment as per agreements already ratified by the Government.

Vietnam is currently home to 7,490 FDI projects with a total registered capital of US$67 billion. Of those, some 575 new projects worth US$4.3 billion set up shop in the first six months of 2007. VNA

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