ASEAN KEY DESTINATIONS
Foreign firms look to invest in Ho Chi Minh City
The Dau Tu (Viet Nam Investment Review) newspaper quotes the HCM City Department of Planning and Investment as saying 65 FDI projects operating in the City have raised their investment capital to US$168.9 million in the first nine months of this year.
These projects are mainly in the manufacturing, industrial, service and retail sectors. Fastfood chain Lotteria Viet Nam Ltd Co has decided to invest an additional $7 million to expand its chain, while sporting goods manufacturer Adidas Viet Nam has decided to raise its investment by a million dollars to $3.9 million.
Retailer Giant South Asia has poured an additional $15 million into its distribution network and warehouses, raising its total investment capital to $20 million.
Lu Thanh Phong, DPI deputy director, said FDI businesses in the city had, compared to previous years, increased investments in manufacturing, processing and industrial production over the last two years.
A representative of Australia's RMIT University said it had invested more than $15.1 million to build a dormitory for its students in Viet Nam.
Merilyn Liddell, director of RMIT Viet Nam, said the investment aimed to expand the school area by 2013 to meet rising demand for international standard education in Viet Nam.
However, many FDI businesses had also complained that they were hampered by the lack of skilled workers, and were having to provide the needed training by themselves, the newspaper reported.
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