FDI in industries still slow

Ha Noi, Dec. 30 (VNA) -- The attraction of foreign investment is still slow, particularly for industry, despite Government efforts to improve the investment environment, reports the Industry Ministry.

A total of 196 industrial projects with total registered capital of USD 491 million have been licensed so far this year - 73 percent of all projects and 77.6 percent of total registered capital.

Of these, 77, or 39.3 percent, are in the heavy industry; 103, 52.6 percent in light industry; 13, 6.6 percent in food processing and three, 1.5 percent in oil and gas.

Average investment capital for a small-scale project was USD 2.35 million.

Almost all foreign partners are regional small to medium enterprises and their improvement of industrial infrastructure has been limited.

A number of enterprises have added heavily to their investment capital, including the Sai Gon-Linh Trung Export Processing Zone Joint Venture Company, USD 12.5 million, the International Precious Stone Joint Venture Company, USD 10 million; the Taicera Porcelain Company, USD 10 million and the Formosa Textile Company, USD 9.7 million.

But the total added capital was equal to 49 percent of that for last year.

The total of foreign-invested projects licensed for the year was 303 capitalized at more than USD 1.9 billion. Working enterprises provided an additional USD 268.9 million to their investment capital.

The country's foreign-invested projects now total 2,601 with combined valid capital of USD 35.47 billion.--VNA