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Vietnam eyes $90bn in FDI in 5 years


January 4, 2008

Vietnam eyes $90bn in FDI in 5 years

Vietnam has planned to attract foreign direct investment (FDI) of 90 billion U.S. dollars in the 2006-2010 period, local media reported Thursday.

Vietnam will lure bigger amounts of FDI from Japan, the United States and the European Union in the next three years, Vietnam Economic Times newspaper quoted the prediction of the Ministry of Planning and Investment as reporting.

From now to 2020, Vietnam will prioritize attracting FDI in high technology, information technology, manufacturing engineering, new material and energy, accessory industry, tourism, sea and air transport, healthcare, culture, education and infrastructure, New Hanoi newspaper quoted Phan Huu Thang, head of the ministry's Foreign Investment Agency, as saying.

Vietnam lured FDI of over 30 billion dollars between 2006 and 2007. By the end of last year, the country had 8,580 operational foreign-invested projects with total registered capital of 83.1 billion dollars.

Now, 80 countries and regions have FDI projects in Vietnam, and South Korea is the biggest investor with 1,837 projects totaling 13.5 billion dollars, according to statistics from the ministry.

Courtesy Xinhua

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