Vietnam Expects to Draw US$13Bln FDI This Year
Foreign direct investment (FDI) into Vietnam is forecast to reach US$13 billion in 2007, up 8.3 per cent on-year, said the Foreign Investment Department under the Ministry of Planning and Investment (MPI).
The country is also considering the licensing of some 50 FDI projects with combined capital of over US$50 billion, the MPI reported.
The biggest project is a US$3.5 billion coal-fired power plant with capacity of 2,640 MW by Japan’s Sumitomo Group in central Khanh Hoa province.
South Korea-based Kumho Asiana has registered to pour US$2.5 billion into a cultural-commercial centre and an exhibition center in Hanoi.
While the US’s AES Group has joined hands with the Vietnam Coal and Minerals Group to build the Mong Duong thermal power plant No.2 worth US$1.5 billion in northern Quang Ninh province.
Taiwan’s Foxconn Technology Group on August 29 inked a framework agreement with the MPI in Hanoi for a series of projects with total expected investment capital of US$5 billion.
It has recently kicked off construction of the first two hi-tech plants totally reaching US$160 million in the two northern provinces of Bac Ninh and Bac Giang.
The Southeast-Asian country is likely to pull in US$14.5 billion FDI next year, according to the department. (Vietnam & World Economy, VNA)
Vietnamese
