More foreign projects gain licence approval

Foreign investments continue to flow into the country. The central coastal province of Ninh Thuan last Saturday licensed the US$250 million Phuoc Nam-Enfinity renewable energy plant by Belgium-based Enfinity Company, Dau tu (Vietnam Investment Review) reports.

Many other projects worth billions of dollars are waiting for approval – like the giant Mui Dinh tourism complex project to be built at a cost of $4.5 billion which is waiting for the green light from the Government.

The 1,500-ha complex in Thuan Nam District will be developed by the Hong Kong-based Polo Beach International Limited Company. It will have a high-end resort and villas, amusement and shopping areas, and others.

Another notable project awaiting a licence is the Japan-based Toyota Tshuno Corporation's $130 million project to mine rare earths in northern Lai Chau Province.

Finnish mobile phone maker Nokia has announced plans to build a manufacturing plant in northern Bac Ninh Province that is expected to be licensed in the second quarter.

Many foreign delegations have also been visiting Viet Nam looking for investment opportunities.

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