Foreign investment of 608 million in 10 months


Ha Noi, Nov. 11 (VNA) -- Investment licenses were granted to 245 more foreign-invested projects capitalized at USD 608 million in the first ten months of this year, says the Ministry of Planning and Investment (MPI).

Southern provinces and cities still top the list of foreign investment attraction with Binh Duong province having additional 64 projects worth more than USD 187.6 million, Ho Chi Minh City, 84 projects worth USD 167.3 million, and Dong Nai province, 22 projects worth more than USD 91 million.

The newly-licensed projects are owned by investors in 28 countries and territories. Taiwan has 91 projects capitalized at more than USD 176.2 million and British Virgin Islands has 12 projects worth USD 90.69 million. They are followed by Japan, Australia, the Republic of Korea, France and the US.

Of the licensed projects, the industrial sector accounts for 188 projects capitalized at nearly USD 429.9 million; the oil and gas sector, three projects valued at USD 40.2 million; and the agro-forestry sector, 13 projects capitalized at nearly USD 23.1 million. The culture, health and education sectors have six projects totalling more than USD 65.5 million; the fisheries sector, three projects capitalized at USD 3.15 million, the construction sector, five projects capitalized at USD 7.5 million; and the hotel business and tourism sector, post and financial banking sectors, each with one project.

According to MPI Minister Tran Xuan Gia, foreign investment in Viet Nam has increased in 2000 after two years of reduction. He noted that with a number of major projects being considered for the granting of licenses, Viet Nam is likely to attract more than USD 2 billion in foreign investment in 2000.

The projects waiting for licenses include a USD 500-million project to explore and exploit the Lan Tay-Lan Do gas field, a USD 500-million cooperation contract to build gas pipelines from oil fields to Ba Ria-Vung Tau southern province, a USD 38-million on oil and gas production- sharing contract with the Russian partner at Lot.112, and a wholly foreign-invested project to build a high-grade resort in the central coastal city of Nha Trang with an investment capital of USD 15 million.

Foreign-invested enterprises exported a quantity of goods worth USD 3.25 billion in the past ten months, accounting for nearly 28 percent of the country's export turnover.--