Thursday, October 02, 2008

Malaysia Tops List Of Foreign Investors In Vietnam

HANOI, Oct 1 (Bernama) -- Malaysia heads a list of 40 countries and territories who have invested in Vietnam over the last nine months, following the licensing of its US$9.8 billion project to construct a steel complex in southern Ninh Thuan province.

Quoting the Foreign Investment Department, the Vietnam news agency (VNA) reported that the Malaysian businesses are currently registered to invest in 37 projects worth a total of US$14.8 billion in Vietnam, making up 4.1 percent of the total number of projects and 26.4 percent of registered capital.

The Malaysian Berjaya Land Bhd Corporation has invested US$3.5 billion in a construction project to develop urban areas and universities in Ho Chi Minh City and another US$930 million to build the Vietnam Financial Centre in the city's District 10.

The corporation has also invested US$230 million in projects being implemented in the centre of Bien Hoa city in southern Dong Nai province and US$500 million in projects being carried out in Thach Ban new city in Hanoi.

Construction of the steel complex in Ca Na, which was licensed by the provincial People's Committee on Sept 19, is the biggest foreign investment project in Vietnam so far.

It will be jointly executed by the Lion Corporation and the Vietnam Shipbuilding Industry Corporation (Vinashin).

The Malaysian ambassador to Vietnam Lim Kim Eng praised the investing environment in Vietnam particularly, and said that it has attracted an increasing number of foreign investors including Malaysian businesses.

Malaysian investors have plans to invest in real estate as well as in the construction of hospitals, hotels, banks and production factories, she added.

Malaysian Minister of Industrial Trade and Industries Muhyiddin Yassin paid a visit to Vietnam at the end of last July, accompanied by representatives of large businesses seeking investment and business opportunities