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December 26, 2007

FDI reaches $20.3bn in 2007

Vietnam   attracted a total foreign direct investment (FDI) capital of 20.3 billion USD in 2007, the highest figure since the Foreign Investment Law was enacted in 1988.

According to the Department for Foreign Investment under the Ministry of Planning and Investment, the figure represents a year-on-year increase of 69.1 percent.

Of the total, 1,500 newly licensed projects brought in 17.6 billion USD.

Large scale FDI projects go to hi-tech and real estate sectors. Noteworthy is a 2 billion Euros "Asian Pearl" project in Phu Quoc island, southern Kien Giang province, by   Switzerland  's Trustee Suisse.

Ho Chi Minh City    meanwhile signed a memorandum of understanding with Malaysia  's Berjaya Land Berhad for construction of a 3.5 billion USD international-college urban area.

Big investors include the Compal who invested 500 million USD to build an electronic component and computer assemblage in northern Vinh Phuc province.

This year, only 4.6 billion USD were disbursed. The country will try to disburse 5.6-6 billion USD of the expected 15 billion USD in FDI next year,according to the department.

Courtesy VNA

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