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Vietnam FDI up 50 percent (27/07)
06/08/2010 - 73 Lượt xem
Of the US$7.5 billion worth FDI recorded in 2007, by July 717 new projects had made up $6.4 billion while 196 operating projects had scaled up their investment an additional $1.1 billion.
FDI flowed mainly into industry ($3.43 billion), the service sector ($2.8 billion) and agro-forestry-fisheries ($1.27 billion), the ministry said.
The country’s largest new project is a $1.2 billion paper mill in the southern province of Hau Giang by the Hong Kong-listed Lee & Man. The project has just begun construction and is slated to surpass US IT giant Intel’s $1 billion microchip assembly and testing center as the country’s most expensive project.
Since the beginning of the year, foreign companies have disbursed $2.6 billion in Vietnam, a year-on-year rise of 20 percent.
Vietnam expects FDI to hit $20 billion this year, three-quarters of it in new projects, compared to $10 billion last year.
Vietnam has raised its FDI target for 2006-10 to $55 billion and plans to focus on hi-tech industries.
Of the amount, the country hopes that $25 billion will be implemented by 2010: 55 percent in the industrial sector, 37 percent in the services sector, and 8 percent in the agro-forestry-fisheries sector.
Last year Vietnam received $10.2 billion in FDI, far above the original target of $6.5 billion.
Source: Thanh nien.
