|
FDI prospects not looking bad, says official
Vietnam is likely to attract more billion-dollar FDI projects in the second half of the year, Phan Huu Thang, head of the Foreign Investment Department of the Ministry of Planning and Investment tells Sai Gon Giai Phong in this exclusive interview on June 22.
Reporter: Sir, the updated foreign direct investment figures for 2008 that have just been released are different from those reported at the end of last year. What is the reason for this difference?
Mr. Thang: After fully incorporating localities’ reports, the total FDI registered in 2008 is up to US$71.7 billion. This is a spectacular figure that is far above the expected figure of $64 billion.
The reason for the difference is that last year’s reports were based on statistics until the beginning of December and some localities had not updated the figures.
Q: The 2008 figures were very impressive but in the first six months of 2009, FDI has fallen to just 13 percent of the figure in the same period last year. What do you think about this?
A: The fall in FDI is due to the world economic recession.
However, additional capital in operational projects rose by 13.8 percent from the same period last year. Besides, disbursement of funds and progress of projects this year have been rather good.
The investments pledged show the belief investors have in Vietnam’s business environment but the capital disbursed shows the benefits of FDI for the economy.
Q: Which fields attracted foreign investors the most in the last six months?
A: The housing, hotel, and restaurant industries attracted the largest FDI amount -- of $4.5 billion – followed by processing and manufacturing and real estate.
Q: How do you see FDI inflows in the next six months?
A: I think FDI pledges for the whole year will reach $20 billion because the list of potential projects is very long at 187 with total capital requirement estimated at $85.4 billion.
Some large projects still awaiting licenses are the $6-billion Golden Bay City trade and tourism complex in Lam Dong Province, a $3-billion refinery and port project in Bac Lieu, and a $1.5-billion high technology zone in Can Tho.
$4 billion of FDI disbursement
The Foreign Investment Department said 306 foreign-invested projects worth $4.7 billion were licensed in the first six months of 2009.
Additional capital infused into existing projects was worth $4.1 billion, 13.8 percent higher than the last year period.
With one more project licensed in June, Ba Ria – Vung Tau continues to remain the top FDI destination followed by HCMC.
FDI disbursement in the first half is estimated at $4 billion, occupying 81.6 percent of that in the same period last year.
Mr. Thang said the disbursement target of $8 billion for this year is likely to be achieved.
Anh Phuong – H.Mien
sggp
|
