400 oversea Vietnamese enterprises in Vietnam

Ha Noi, Dec. 2 (VNA) -- More than 400 overseas Vietnamese enterprises with a total capital of VND 400 billion (USD 27.7 million) are operating in Viet Nam under the Domestic Investment Law.

The enterprises are mostly involved in export-import, advertising and tourism.

In addition, Vietnamese nationals living outside Viet Nam have invested USD 200 million in 50 projects under the Foreign Investment Law.

Almost 2.7 million Vietnamese nationals live in more than 100 countries and territories worldwide, including more than one million in the United States.

Of these, 400,000 have finished university and post-graduate education and many hold key posts in economics and high-tech sectors.

Most of them wish to contribute to the national construction process and about 200 scientists and lecturers return home to give lectures or work as consultans for domestically-invested projects each year.

Overseas Vietnamese remit about USD 1.2 billion to help their relatives in Viet Nam through banking services annually and the State has incentive policies including tax exemption for money transfer, preferential air fares and investment to encourage this practise.

An experiment approved by the Prime Minister Phan Van Khai for Ho Chi Minh City will allow overseas Vietnamese to buy and own houses, and overseas Vietnamese lecturers and athletes will be invited to teach and compete in the city.

The Committee for Overseas Vietnamese says the policies and measures undertaken by the State show not only that the State considers overseas Vietnamese an inseparable part of the Vietnamese nation but it also encourages them to contribute to national construction and development.--VNA