Southern officials expect foreign investment influx

Officials in three southern provinces of Dong Nai, Ba Ria-Vung Tau and Binh Duong have said they were optimistic on the influxes of foreign direct investment (FDI) in these provinces this year.

Deputy Director of Binh Duong Province’s Department of Planning and Investment Le Viet Dung said there was reason for optimism as the capital of foreign investors would increase this year due to the recovery of the global economy.

Despite of a goal of attracting only US$1 billion in FDI set for this year, the province still hoped that its FDI attraction results would be equal to that of the previous year, Dung said.

Binh Duong has attracted 99 new foreign-invested projects worth $2.5 billion while allowing 125 existing projects to increase capitals by $446 million last year. Among the most significant projects included a $1.7 billion housing project, making up 84 per cent of the total FDI registered in the province; a tooth-brush manufacturing plant worth $40 million and a $14 million logistic centre.

In the time ahead, top priority would be given to large projects using clean and high technologies, said the provincial People’s Committee chairman Nguyen Hoang Son.

Meanwhile, Ba Ria-Vung Tau Province, which led the nation’s cities and provinces in attracting the most FDI nation-wide last year, expected to absorb above $1.97 billion from 20 new foreign-invested projects this year.

Of the total, eight projects worth $1.12 billion would come into areas outsides industrial zones, said Le Kim Huong, director of the provincial Department of Planning and Investment. Some large-scale projects involved in such sectors of real estate, trade, steel and education, Huong noted.

The province had closed a successful year of FDI attraction in 2009 with 26 newly-licensed and 12 capital-added projects worth a totalling of $6.8 billion.

Not to lag behind, Dong Nai Province has set a target of drawing $1.5 billion in FDI this year.

VietNamNet/Viet Nam News

Tags: Vietnam investment