Vietnam Targets to Disburse US$10 Bln FDI This Year - MPI
Vietnam will likely disburse US$10 billion of foreign direct investment this year after it saw US$5 billion has been funneled in the first half this year, Phan Huu Thang, head of the Ministry of Planning and Investment&rsquos Foreign Investment Department.
In the first half, Vietnam reported the pledged FDI of US$31.6 billion, tripling last year&rsquos figure and accounting for 48.3 per cent of Vietnam&rsquos total FDI figure last year, proving foreign investors&rsquo trust in the local business climate, the ministry said.
Thang noted that foreign investors see long-term economic prospects of Vietnam despite short-term problems including soaring inflation.
A coordination among local and central authorities is much needed to achieve the target, Thang highlighted, specifying that MPI has proposed provinces and cities to double check investment capital disbursement.
To cool down the overheated economy, the government of Vietnam has cut GDP growth rate to 7 per cent and planned to slash 10 per cent of public investment and 25 per cent g-bond sourced projects.
Vietnam&rsquos consumer prices in June soared 26.8 per cent from a year ago, the General Statistics Office said on June 27. (Investment)
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