VN attracts foreign investors with its potentiality and political stability
VGP - According to the Ministry of Planning and Investment, over the past 11 months, Việt Nam licensed another 1,059 FDI projects with the total registered capital of US $59 billion. Together with nearly US $1.1 billion of additional capital for 242 projects, the registered FDI reached more than US $60 billion, six times higher than that of 2006 and tripling the figure of last year.
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PM Nguyễn Tấn Dũng in the groundbreaking ceremony of the Vũng Áng Steel Complex, one of the biggest FDI projects in Việt Nam |
After two years joining the World Trade Organization, Việt Nam has attracted 2,504 new projects worth of US $80.4 billion, 1.3 times higher than the figure of the period 1988-2006.
Canada and the United States have placed themselves among the top investors in terms of investment capital and technology. India and the Middle Eastern countries have also increased their investment in the country.
FDI is now poured into not only provinces with good infrastructure (Hồ Chí Minh City, Hà Nội, Đồng Nai, Bình Dương and Bà Rịa-Vũng Tàu) but also many provinces throughout the country, namely Ninh Thuận, Hà Tĩnh, Thanh Hóa, Phú Yên, Bắc Ninh, Thừa Thiên-Huế, and Kiên Giang.
Foreign investors are interested in strategies on the development of coastal economic zones.
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FDI enterprises contribute significantly to Việt Nam’s production development, inflation control and narrowed trade gap |
Over the past two years, there have been some important industrial projects, including the petrochemical refinery in Thanh Hóa and a steel complex in Hà Tĩnh as well as other large-scale projects in services and real estates to serve the national industrialization and modernization.
Despite inflation and higher input costs, the industrial production value of FDI enterprises over the past 11 months increased by 20.9% compared with the same period last year. The FDI sector contributed 55.6% to the country’s total export revenue.
According to the Department of Foreign Investment (Ministry of Planning and Investment), in the first 11 months, FDI enterprises earned US $45.45 billion, up 26.3% against the same last year, contributing significantly to Việt Nam’s production development, inflation control and narrowed trade gap.
The above-mentioned achievements are attributable to Việt Nam’s better investment environment and political stability. Việt Nam’s unswerving diplomatic policy of “being friend and trustful partner with every country” has lured investors from various continents. By implementing its WTO commitments and developing a dynamic economy, Việt Nam has created momentum for a new wave of FDI.
By Ngọc Vân
