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Home  >>   Daily News  >>   Asean News  >> Investment  >> Ha Noi seeks further $1.3b in FDI
NEWS UPDATES Asean Affairs   15 October 2013  

Ha Noi seeks further $1.3b in FDI

HANOI : The capital city will ramp up its efforts to create resources for investors, in an effort to attract US$1.3 billion in foreign direct investment (FDI) by the end of the year, according to the municipal People's Committee.

In addition to simplifying administrative procedures for greater investment, the city will also foster a more transparent investment climate, the committee said.

The city is reportedly compiling a list of prioritised projects calling for investment from now until 2015, with another programme in the pipeline to attract more attention from Japanese investors.

According to the comm-ittee's findings, the city has attracted a total registered FDI of $768.2 million so far this year, accounting for only 59 per cent of the target for 2013.

Most projects were found to be small- and medium-sized, resulting in a 16.4 per cent year-on-year decrease in registered capital despite a 7-per-cent increase in number of projects.

The committee ascribed the substandard performance to negative influences from the global and regional economy and complex procedures.

The report also said inadequate "fresh land" for investors wanting to implement large-scale projects in the city.

Officials are hoping the new measures will help draw $1.45 billion in FDI in 2014, with $950 million expected from new projects and the remainder from existing projects increasing their capital contributions.

The move follows a project signed off by the City last month with Japan's Forval Corporation, expected to bring in more investment from Japan.

The project aimed to spotlight key areas for Japanese investment and incentives for investors, including access to land, administrative procedure reform and infrastructure development.

Ha Noi now ranks second in the country for the amount of FDI invested in provinces and cities nationwide.

The Foreign Investment Agency's statistics revealed that as of September, the city is home to over 2,580 foreign-invested projects with a total registered capital of $22 billion. — VNS



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ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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