FDI Flow into Vietnam Set to Hit US$34Bln by 2010
Vietnam has set a goal to obtain around US$34 billion in foreign direct investment (FDI) from now to 2010, according to the third draft of an FDI attraction program for the period, which has just been finalized by the Ministry of Planning and Investment.
Out of the sum, fresh FDI projects will account for roughly US$22-24 billion, the rest is expected to come from the capital rise of existing projects.
The FDI disbursement in the phase is also expected to reach US$22-25 billion. Of which up to 55 per cent will be put into use in the industrial sector, 37 per cent for the services sector and 8 per cent for the agro-forestry industry.
Under the draft, in the next five years, Vietnam will specially focus on encouraging FDI in the fields of information technology, electronics, bio-technology, and source technology from developed countries as well as in the agro-forestry-fisheries processing.
To realize the target, the Southeast-Asian country is planning to launch a series of investment promotion programs abroad from now to the end of this year. It is also to set up more representative offices for this area in some core markets such as Japan, US and the EU.
Vietnam attracted a total of US$3.97 billion worth of pledged foreign direct investment (FDI) capital in the first eight months of the year, including US$2.96 billion from 426 fresh projects and the rest from capital increase of 214 existing ones.
Investment
Vietnamese
