Vietnam to Welcome Huge FDI Projects
Vietnam will receive a range of mammoth foreign direct investment (FDI) projects this year after recent successive visits of foreign groups for market exploration, said an official from the Ministry of Planning and Investment (MPI).
Japan’s Sumitomo Corporation plans to pour around US$3.5-4 billion into Van Phong Economic Zone to build a 2,640MW-thermal power plant and two International Container Transshipment Terminals in central Khanh Hoa province.
Foxconn of Taiwan has revealed that it will invest a total of US$5 billion into hi-tech electronic projects in the northern provinces of Bac Ninh and Bac Giang. From now to 2010, the firm will register investment capital of US$1 billion.
While Malaysia-based Gamuda wants to build hotels, convention centers and luxury offices and houses with an investment of US$1 billion. Rivier Group from Japan is seeking the local Government’s permission to carry out a US$500 million five-star hotel project in Hanoi.
Vinh Phuc province is going to welcome big projects, namely Taiwanese Compell’s US$500 million electronics project and a South Korean-based company’s racetrack project worth US$500 million as well.
Foreign direct investment (FDI) into Vietnam reached US$781 million from both newly-licensed projects and capital increases by existing projects in the first two months of this year, representing just a slight rise of 1 per cent on-year, the MPI reported.
Of the total, fresh projects account for US$621.7 million, with US$350 million FDI licensed in January, the rest coming from existing projects raising capital.
In the period, some large-scale projects got investment licenses such as US$220 million paper project by Thai SCG Siam Cement in Binh Duong and the US$165 million Cai Mep port project in Ba Ria-Vung Tau.
This year, Vietnam has a goal to lure over US$10 billion of FDI.
Vietnamese
