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August 6, 2007

FDI wish list to be out soon
Vietnam will soon present foreign investors with a wish list of 136 pre-planned foreign direct investment (FDI) opportunities eligible for bypassing lengthy application procedures, local newspaper Vietnam Investment Review reported August 6.

Priority would be given to projects that improve the infrastructure and the service sector, the newspaper quoted an official from the Foreign Investment Agency (FIA) under the country's Ministry of Planning and Investment as saying.

"The priorities on the wish list are suitable with the Vietnamese government's commitment to provide further incentive policies to the private sector, which invests its money in building power and water facilities, roads and ports under various forms of build-operate, build-operate-own and build-operate-transfer," the official said.

Prioritised projects in infrastructure development include 16 new expressways, two railway routes, six airports, seven seaports and at least 10 new urban centers.

The wish list also includes 20 resorts and recreational facilities for foreign investors to step into. They include facilities in the World Heritage site of Ha Long Bay, the central highlands resort city of Da Lat and the southern island of Phu Quoc.

The official said that the wish list was part of Vietnam's ambitious plan to attract US$24 billion in FDI in 2010, and that it was awaiting prime ministerial approval.

By July 22, Vietnam had attracted 7,736 FDI projects with total registered capital of over US$70.5 billion. Having 1,538 projects worth more than US$10.3 billion, South Korea was the biggest investor among 76 countries and regions having investment in Vietnam by that time, according to the FIA's statistics. Xinhua

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