Vietnam reports 8.3 billion dollars in foreign investment

Business News

Aug 27, 2007, 6:11 GMT

Hanoi - Vietnam has attracted an estimated 8.3 billion dollars worth of foreign direct investment (FDI) so far this year, a year-on-year increase of 39.8 per cent, an official said Monday. The country is on target to reach 13 billion dollars of FDI this year, compared with last year's 12 billion dollars, said Nguyen Xuan Trung, deputy director of the Foreign Investment Department under the Ministry of Planning and Investment. Of the total estimated FDI drawn into Vietnam in the first eight months this year, nearly 54 per cent of the new projects invest in industrial production while 45 per cent of the projects in services and trade. In all, 7.1 billion dollars come from 814 newly licensed projects and 1.2 billion dollars from the expansion of 247 existing projects. South Korea remains the largest foreign investor in Vietnam with 24.4 per cent of the total FDI inflow, followed by Singapore with 18.7 per cent, the British Virgin Islands with 12.1 per cent and Taiwan with 8.4 per cent. © 2007 dpa - Deutsche Presse-Agentur

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Vietnam reports 8.3 billion dollars in foreign investment

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