Danang hosts workshop on foreign investment projects

Economic and industrial zones in Vietnam have so far attracted more than 4,350 foreign invested projects with a total registered capital of over US$90 billion.

These projects have actively contributed to the country’s socio-economic development and have generated steady jobs for a large number of qualified workers.

This assessment was provided at a workshop held in the central city of Danang on December 2 to review the operational efficiency of foreign invested businesses and discuss measures to speed up the disbursement of foreign invested projects.

However, delegates noted, the disbursement progress remains slow as only 40 percent of them have been paid out.

The holdup is largely due to the negative impact of the global economic crisis which posed great challenges to investors in mobilizing capital and implementing ground clearance. In addition, there is red tape delaying some administrative procedures in a number of localities.

According to Prof. Dr. Nguyen Mai, President of the Vietnam’s Association of Foreign Invested Enterprises (VAFIE), the remaining 60 percent of the registered capital is expected to be totally disbursed in the next five years.

Vietnam has already enacted the Law on Foreign Investment aimed at providing a fair playground for both foreign and domestic businesses, said Mai. – VOV

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment

Posted by VBN on Dec 3 2011. Filed under Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry