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Viet kieu increase investments
More Viet kieu (Overseas Vietnamese) are investing in Viet Nam, in a variety of sectors, including services, tourism, real estate and agricultural processing and export.
Phan Tham, Chairman of the HCM City Committee for Overseas Vietnamese, said overseas Vietnamese had invested in 10 projects in the HCM City High Tech Park.
Tran Hoa Phuong, the committee's Deputy Chairman, said about 50,000 Viet kieu, mainly from the US, Australia, Canada and Europe, visited the country during Tet (Lunar New Year) holiday to see relatives and seek business opportunities as well.
The committee organised a tour for 80 Viet kieu to visit key projects in HCM City, such as the Phu My Bridge, Thu Thiem Tunnel and East-West Highway, he said.
He said most of them were surprised at the development of the city and pledged to make investments.
Overseas Vietnamese in Germany, Japan, South Korea and other countries have also expressed interest in providing knowledge and advanced technologies, with some of them opening electronic and IT companies here.
Vietnamese-German Do Ngoc Quynh, who has a biogas project in Cuu Long (Mekong) Delta, said that many of his friends were interested in community projects such as biogas and waste management projects.
Tran Van Binh, also from Germany, has started the Dr. Van Tran Consulting Trading Company.
Binh said his company in the near future would enter into a joint-venture with foreign partners to invest in renewable energy projects in Viet Nam, with an initial focus on wind energy projects in the provinces of Ninh Thuan, Binh Thuan, Ca Mau, Soc Trang, Bac Lieu and Ben Tre.
He said he wanted to bring clean energy technology to Viet Nam.
Last year, remittances from overseas Vietnamese surpassed US$8 billion, a rise of 25.6 per cent over 2009, according to the State Bank of Viet Nam.
Apart from remittances sent to Viet Nam for consumption purposes, overseas money is also used for investment in gold, stocks and real estate.
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