29 countries and territories increase investment capital in VN
For ten first months of 2007, Việt Nam has attracted a total foreign investment capital of US $11.26 billion; 29 countries and territories have increased their capital to expand business in Việt Nam.
During this period, throughout the country, 300 supplementary projects have been registered, with an increase of investment capital of US $1.5 billion. The Republic of Korea (RoK) continues to rank first among 50 countries and territories investing in Việt Nam, possessing a capital of US $2.44 billion, accounting for 25 percent of the total registered capital.
In October, many localities attracted some large-scale projects from multinational groups, such as a Vespa motorbike factory worth of US $45 million by Piaggio (Italy) and a US $500-million laptop producing project by Intelligent Universal, a member of Taiwan Compal Electronic Group, in the northern province of Vĩnh Phúc; the US $360-million Hệ Dưỡng cement mill with the productivity of 3.6 million tons/year (Ninh Bình Province); and the US $284-million Việt-Hàn Project on golf courses, malls and residential quarters, a joint-venture between BB Đại Minh Company Ltd, Bridge Securities Company (RoK) and other RoK investors (Long An Province).
The turnover of foreign-invested businesses was estimated to reach US S4.5 billion in October. These enterprises have attracted more 13,000 laborers, increasing by 11.7 percent against the same period last year.
To further attract foreign investment capital in the remaining months, the Ministry of Planning and Investment proposed competent agencies perfect the market economic regime as well as “one-stop-shop” mechanism to facilitate the issuance of investment certificates and investment management.
The Ministry also highlighted the upgrading of communication network, seaports, telecommunication services, electricity and water supply to lay a good foundation for business and production activities. (VNGOP)
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