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VietNamNews

FDI disbursement to reach $10.5b

Update: December, 15/2012 - 10:18

 

Toys are made for exports by workers of the South-Korea invested Dream Plastic Co in northern Ha Nam Province. — VNA/VNS Photo Danh Lam
HA NOI (VNS)— Disbursements of foreign investment capital could reach a total of roughly US$10.5 billion this year, the Ministry of Planning and Investment estimates.

Pledges of new investment were expected to reach roughly $13 billion.

Japan, Singapore and South Korea were currently the country's leading sources of foreign investment, the ministry said.

Foreign investment in manufacturing and processing, especially in support industries – a priority in Viet Nam's policies to attract investment – had increased remarkably, said the director of the ministry's Foreign Investment Agency, Do Nhat Hoang.

Some leading projects in manufacturing and processing included an $870 million electronic components plant to be built by Taiwan's Wintek and an $830 million mobile phone plant being developed by South Korea's Samsung.

The nation has recently tightened policies on foreign investment. New projects must effectively utilise natural resources, reinforce linkages with domestic enterprises, and lure additional investment into support industries, as well as such priority sectors as agriculture, services, information technology and high-tech industries.

The Government has instructed local authorities not to grant investment licences to energy or resource-intensive projects or projects which pollute or use outdated technology.

To further improve the quality of investment, experts have recommended that the Government encourage projects that use advanced technologies and produce competitive export products, while helping build the economic bases of local provinces.

Minister of Planning and Investment Bui Quang Vinh said that the nation has targeted pledges of $14-15 billion in foreign investment next year, of which $10-11 billion would be disbursed. — VNS

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