Wednesday, July 30, 2008

Foreign investment in Vietnam surges to $44.5 bln

Foreign developers continue to invest strongly in Vietnam
Vietnam attracted 167 foreign direct investment (FDI) projects worth US$13.6 billion in July, the Department of Foreign Investment said Friday.

It brought the figures for the first seven months to 654 projects and nearly $44.5 billion, according to the department, which is part of the Ministry of Planning and Investment.

The biggest project this year is a $4.3 billion investment to develop an urban area in Phu Yen Province by Brunei’s New City Group.

It was followed by a $3.8 billion oil refinery in Ba Ria-Vung Tau Province and a $3.5 billion university complex in Ho Chi Minh City by Malaysia’s Berjaya Leisure Company.

Taiwan continued to rank first with an investment of $8.4 billion, followed by Japan with $7.2 billion, Malaysia with $5.07 billion, Brunei with $4.3 billion, Canada with $4.2 billion and Singapore with $4.02 billion.

This year foreign-invested enterprises have hired 16,000 new employees, a year-on-year growth of 15.2 percent.

Source: TN, VNA