Da Nang (VNA) – In the first two months of this year alone, the Central and Tay Nguyen ( Central Highlands ) region has attracted 14 foreign direct investment (FDI) projects with a total registered capital of 1.23 billion USD.

The figure, announced this week by the Deputy Director of the Foreign Investment Agency (Ministry of Planning and Investment), Bui Quoc Trung, is an astonishing 18 times higher than for the same period last year.

Since Vietnam began chasing foreign investment projects 21 years ago, the region has attracted a total of 631 FDI projects, representing 7.3 percent of the nation’s total FDI projects. Registered capital reached more than 10 billion USD, representing 11.7 percent of total FDI money.

According to Trung, investment has been highlighted by several large projects, such as the 1.7 billion USD Vung Ro Oil Refinery joint venture between UK’s Technostar Management and Russia’s Telloil in Phu Yen; VinaCapital’s 325 million USD Capital Square and the 250 million USD Daewon Cantavil’s Da Phuoc urban developments, both in Da Nang city.

This has brought the average size of the region’s new FDI projects to 40 million USD each, nearly three times the national average of 14 million USD.

Trung said the region had an extensive system of ports, airports, industrial and economic zones as well as development policies. “These advantages will continue to be thoroughly promoted in line with the Government’s major policies for the region”.