ASEAN Investors Pour US$13.4 Bln into Vietnam
Investors from the ASEAN region had invested US$13.4 billion in 1,115 projects in Vietnam as of late September, said the Ministry of Planning and Investment (MPI).
Singapore is the biggest ASEAN investor with 525 projects valued at more than US$9.6 billion, followed by Malaysia with 230 projects worth US$1.8 billion, Thailand with 160 projects worth US$1.5 billion, the ministry said.
The two-way trade between Vietnam and ASEAN bloc was over US$20 billion in 2006, up nearly 40 per cent on year, accounting for about 20 per cent and 25 per cent of the country’s total export and import turnovers in the year.
The ASEAN region is a big export market for Vietnam’s farm produces, particularly rice, and also an important source of machine, equipment and raw material supply for the nation.
To boost cooperation between regional economies, nearly 1,000 ASEAN business leaders will attend the ASEAN Capitals Business Forum (ACBF) slated for October 15 in Hanoi to discuss ways for the development of finance, real estate, free trade and retail sectors.
Awards will be also granted for selected businessmen who have made outstanding contributions to regional prosperity and economic cooperation.
ACBF is an initiative of the Hanoi Business Association to enhance ties with capital cities of ASEAN countries.
Among ASEAN countries, Laos is the largest recipient of Vietnamese cash with US$555 million for 76 projects, followed by Cambodia with US$80.7 million for 22 projects, according to the MPI. (VNA)
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