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Vietnam lures more FDI in first 7 months
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19:43, July 26, 2007

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Vietnam is estimated to lure foreign direct investment (FDI) of nearly 7.5 billion U.S. dollars in the first seven months of this year, up 49.7 percent over the same period last year, according to a local investment agency on Thursday.

As many as 717 new foreign-invested projects worth roughly 6.4 billion dollars are expected to be licensed in the first seven months, and 196 existing projects are set to raise their combined capital by 1.1 billion dollars, said the Foreign Investment Agency under the Ministry of Planning and Investment.

South Korea, with an investment of over 1.4 billion dollars, is the biggest among 39 foreign investors in Vietnam in the first seven months of this year, followed by Singapore with more than 1. 3 billion dollars, and British Virgin Islands with 527.3 million dollars, said the agency.

To lure more FDI, the Vietnamese government has asked localities and relevant agencies to announce the list of projects calling for FDI in the coming years, to intensify investment promotion designated for certain countries and multinationals, to develop auxiliary industries for manufacturing, assembling, textile, garment and footwear production, and to improve socioeconomic infrastructure.

Vietnam is likely to lure FDI of over 20 billion dollars this year, up from 10.2 billion dollars last year, according to the agency.

As of June 22, the country has housed 7,490 foreign-invested projects with a total registered capital of nearly 67.3 billion dollars.

Source: Xinhua



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