Central Vietnam Sees 18-fold Rise in FDI Jan-Feb

Vietnam’s Central and Central Highlands region, or Tay Nguyen, attracted 14 foreign direct investment (FDI) projects valued at US$1.23 billion in the first two months of this year, up 18 times on-year, said an official from the Ministry of planning and Investment (MPI).

 

To date, the region has been home to 631 FDI projects totaling over US$10 billion, accounting for 7.3 per cent of the country’s total project number and 11.7 per cent of the combined capital respectively, said the Foreign Investment Agency’s Deputy Director, Bui Quoc Trung.

 

He added that the largest FDI is the US$1.7-billion Vung Ro Oil Refinery joint venture between the UK’s Technostar Management and Russia’s Telloil in Phu Yen, VinaCapital’s US$325-million Capital Square and the US$250-million Daewon Cantavil’s Da Phuoc urban developments, both in Danang city.

 

The region boasts advantages for investment attraction with a wide range of ports and airports, the official said, noting that it also houses the majority of big economic zones such as Dung Quat, Van Phong, Nghi Son, Chan May-Lang Co and Chu Lai. (VNA, Vietnam Financial Times)