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FDI
expectation for 2007: US$10 billion
The Ministry of Planning and Investment (MPI)
expects to attract US$10 billion in foreign
direct investment (FDI) in 2007, buoyed by
the record FDI attraction last year and
Vietnam’s WTO membership that has boosted
investor confidence.
According to its report sent to the
Government, the figure includes US$7.5
billion from new projects and US$2.5 billion
from existing projects. Its target is based
on the possibility of licensing some big
projects like an oil refinery in Thanh Hoa
Province (US$2.9 billion), an economic zone
in Van Phong Bay of Khanh Hoa Province
(US$1.5 billion), a steel factory in Thanh
Khe of Ha Tinh Province (US$2 billion), a
bauxite mining project in Dak Nong Province
(US$1.6 billion), an oil refinery in Nhon
Hoi Economic Zone of Binh Dinh Province
(US$1.5 billion), a thermal power plant in
Mong Duong of Tuyen Quang Province (US$1.2
billion) and some big property projects.
The ministry also expects the realized
capital this year to reach US$4.5 billion,
up 9.8% on 2006.
Last year, Vietnam attracted US$10.2 billion
in FDI capital, the highest ever and far
above the target of US$6.5 billion. The
amount includes US$7.6 billion of 797 fresh
projects and US$2.6 billion in added capital
of 439 operational projects. Foreign
invested enterprises earned total sales of
US$29.4 billion.
There are 6,813 valid FDI projects with
total registered capital of over US$60
billion in Vietnam. The top five foreign
investors are Taiwan, Singapore, Japan,
South Korea and Hong Kong, which account for
60.6% of the total investment capital.
Source:
The Saigon Times Weekly (January 1, 2007)
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