The Ministry of Industry (MoI) has worked out measures to further increase the flow of foreign investment in the industrial sector for the next five years (2006-2010), local media reported.
Accordingly, the MoI encouraged enterprises to diversify attraction ways, expand investment scale, renovate technology, and introduce master development plans. It also pointed to the need to improve the quality of trade promotion and market research activities.
The ministry plans to call for further investment in high-tech and sourcing industries that allows the transformation of FDI companies into joint stock companies.
According to the MoI, the industrial and construction sectors have so far attracted 3,882 foreign-invested projects with a combined registered capital of US$29.3 billion.
The figures represent 67 per cent of the country’s total valid number of foreign direct investment (FDI) projects and 60 per cent of the total registered capital, the same sources said. It added that about US$18 billion has been disbursed for industrial and construction projects to date.
Foreign investment has mainly gone into the oil and gas, electricity, and mechanical engineering industries, and the production of steel, automobile, electrical and electronic appliances, garment and textile, footwear, beverage, plastic and paper products.
The oil and gas sector took the lead in terms of foreign investment attraction, fetching the country almost US$7 billion in foreign investment.
The foreign-invested sector contributed 35.6 per cent of the country’s industrial production value, higher than the corresponding figure of the State-owned sector and non-State sector.
Vietnam & World Economy, VNA
Vietnamese
