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Foreign investment reaches US$ 9.6 billion

VNGOP - The country has over the past nine months attracted over US$ 9.6 billion in foreign direct investment (FDI), an increase of 38 percent over the same period last year.

09/23/2007 07:03

The Republic of Korea maintains its leading status among 47 foreign investors in Việt Nam with a registered investment of US$ 2.1 billion, making up 25.4 percent of the total. The RoK was followed by Singapore with US$ 1.3 billion or 16.6 percent of the total, the British Virgin Islands with US$ 1.2 billion and Taiwan with US$ 629.7 million. Japan took over the fifth position from India by pouring in US$ 623.1 million.

Newly-licensed projects averaged US$ 8 million a project against US$ 7.01 million recorded in the same period last year. The top 15 projects alone accounted for 45.7 percent of the combined investment of the 1,045 newcomers, reported the Foreign Investment Department under the Ministry of Planning and Investment.

Major investments were mostly poured into the heavy industry and real estate development such as construction of hotels or office and apartment buildings for rent.

Of the 64 cities and provinces nationwide, 50 have managed to attract FDI projects. Hồ Chí Minh City led the nation with US$ 1.1 billion in FDI while the oil-rich Bà Rịa-Vũng Tàu Province ranked second with US$ 1.06 billion. Hà Nội took the third place with US$ 864 million and Bình Dương, the fourth, with US$ 634 million.

To meet a target of US$ 13 billion in FDI for 2007, the Foreign Investment Department is focusing investment in vocational training to meet investors’ demands for high-skilled workforce.

(Source: VNA)