Vietnam is likely to pull in total foreign direct investment (FDI) of more than US$23 billion in the first six months of this year, forecast Phan Huu Thang, head of the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).
Thang said Vietnam can reach this record figure as it is going to give licenses to five mammoth FDI projects from now to late June, including the Nghi Son Oil Refinery project worth US$6 billion.
He also added that the country has seen a remarkable increase of investment in the hi-tech sector since early 2008.
The biggest hi-tech project licensed in the period is a joint venture between Singapore’s TA Associates International, Pte Ltd and Saigon Tel. The project valued at US$1.25 billion will develop a software park at Thu Thiem New Urban Area in Ho Chi Minh City.
Investment flow from North America, Europe and Japan has showed positive signs, the official said, noting that Vietnam is expected to receive more their investment in the hi-tech area in the time to come.
Despite facing current macro-economic difficulties such as high inflation, the Southeast Asian country is still welcoming large influx of foreign investors, even big names.
A delegation of 14 companies, led by U.S. Commerce Assistant Secretary Israel Hernandez, will arrive in Vietnam this week to seek and expand export opportunities in the Vietnamese market, the Youth newspaper reported on June 16.
The guests will include firms operating in industries like Capstone Turbine Corp, Covanta Power Int’l, Clover Technologies, Gala Industries, HOK, iDrect, Mary Kay Inc., Scott Machinery, Sem Group, VCU University and Wisconsin Metalworking.
Dang Thanh Tam, chairman of Saigon Invest Group, said many European investors showed their interest to do business in Vietnam.
A Norway’s investment fund, which manages a total capital of US$30 billion and is famous for its carefulness in investment decision, is very keen on Vietnamese market, Tam said after accompanying State President Nguyen Minh Triet in the recent visit to Europe.
Last year marked Vietnam’s great success in attracting FDI with the record level of US$20.3 billion, but the figure will be much higher this year, analysts said.
The country is striving to boost FDI disbursement to US$7 billion-US$10 billion in the year, according to the MPI. (Youth)
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