Vietnam to lure stronger foreign investment next year
22/12/2004 14:52
Vietnam targets some US$5 billion worth of foreign direct investment
(FDI) in 2005, up from the expected amount of over US$4 billion in 2004.
The
country will attract more than US$4 billion worth of FDI this year if it
licenses a property project with registered capital of US$114.5 million in the
next few days, the Foreign Investment Department under the Ministry of Planning
and Investment said on Wednesday, noting that its initial target was 3. US$3
billion, up 6.5 percent against last year.
Vietnam licensed 630 FDI projects
totaling nearly US$2 billion between January and late-November, seeing
respective year- on-year rises of 7.8 percent and 37.5 percent. Countries with
biggest numbers of projects licensed in the country in the period were South
Korea and China.
To receive more FDI, Vietnam plans to allow stronger foreign
participation in several fields such as cement, electricity, education and
vocational training, and permit localities to license bigger projects (big
cities can license projects worth up to US$40 million).
By late November,
Vietnam housed 5,023 operational FDI projects with total registered capital of
nearly US$45.4 billion.
Xinhua
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