Vietnam to lure more FDI in 2007

Vietnam is expected to attract foreign direct investment (FDI) worth 6.8 billion U.S. dollars next year, up from anticipated 6.5 billion dollars this year, according to a local foreign investment agency on Friday.

Of the FDI in 2007, between five and six billion dollars is expected to be fresh investment, and the rest additional capital of operational projects, the Foreign Investment Department under the Ministry of Planning and Investment said.

The realized capital of FDI projects is estimated at 4.2-4.5 billion dollars in 2007, the department said, noting that Vietnam's foreign-invested sector is forecast to post revenues of 27 billion dollars in the year.

To entice more FDI, the Vietnamese government and localities will create a more liberal investment environment and lower charges, especially those on telecommunications and air transport services.

Vietnam attracted nearly 5.9 billion dollars worth of FDI in 2005, up 40.2 percent over 2004. As of July 20, it housed 6,427 foreign-invested projects with total registered capital of over 54. 6 billion dollars, said the department.

Source: Xinhua