Vietnam will tighten control over licensing FDI-invested projects, and focus on environment-friendly and advanced technologies in a bid to maintain sustainable development, Minister of Planning and Investment Vo Hong Phuc was cited as saying on January 3, 2008.
Phuc noted the government of Vietnam will not apply a rigid regulation, but to apply environment standards in an effort to reduce step by step environment-polluted projects, local Financial Investment newspaper of the Ministry of Finance.
Danang municipal authorities turned down two giant FDI projects worth billion dollars due to environment problems, Phuc said.
To maintain the high and sustainable economic growth rate, Vietnam is facing two hurdles: underdeveloped infrastructure networks and shortage of high-quality labor force, which is limiting capital absorbability, pushing up production costs, the minister emphasized.
Vietnam was estimated to have disbursed US$2 billion in ODA funds last year, up 14 per cent on year, according to the ministry’s figures and the country has set a goal to disburse US$2.2 billion in ODA funds annually from now to 2010, state media reported.
Besides, Vietnam will encourage private sectors to invest in the fields, Phuc added.
The government has issued the list of 163 key projects call for foreign investment from now to 2010. Vietnam needs to attract US$53 billion for industrial and construction sector, US$7.8 billion for tourism and services.
Vietnam ranks the sixth among the world’s top ten foreign investment destinations, Phuc said.
Last year saw the record FDI attraction, which hit US$20 billion, much higher than the forecast US$15 billion. (Financial Investment)
Vietnamese
