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Nation may attract 25 billion USD in FDI in 2009
The nation is forecast to attract 25 billion USD in foreign investment in 2009, 5 billion USD more than the set target, said Deputy Minister of Planning and Investment Cao Viet Sinh.
The forecast was based on FDI attraction in the first nine months of the year, which hit 12.54 billion USD, and three newly-licensed projects valued at over 7.8 billion USD.
The largest project is to build the Dragon Beach Resort in Dien Ban district, in the central province of Quang Nam, by the two US companies Tano Capital LLC and Global C&D Inc. The project includes an eco-tourism complex with entertainment, convention and international trade centres, at an investment capital of 4.15 billion USD.
The second project is for the building of the Nhon Trach urban area in the southern province of Dong Nai worth 2 billion USD by Malaysia’s Berjaya Land Bhd. It is the biggest foreign-invested project in Dong Nai so far.
The other project is the building of a ‘creative city’ by the US group Galileo Investment in the central province of Phu Yen. The first phase of the project has an investment capital of 1.68 billion USD.
According to the Ministry of Planning and Investment, despite FDI attraction in 2008 hitting a record high of 71 billion USD, the set target for 2009 was low in anticipation of the impact of the global economic slowdown.
Addressing the Vietnam-Korea Economic Cooperation Forum in Hanoi on Oct. 21, Deputy Minister Sinh said that Vietnam’s FDI attraction provided evidence that the global economy is recovering and that investors trust the country’s investment environment.
Of the FDI capital, 7.2 billion USD was disbursed, equal to 90 percent of the same period last year.
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