MPI: Vietnam Cuts FDI Attraction Target to US$30 Bln Next Year

Vietnam has just cut FDI attraction target for next year to US$30 billion, but expected to disburse US$12 billion to US$13 billion, higher than this year’s implemented figures, the Young People newspaper said, quoting the Ministry of Planning and Investment’s Foreign Investment Department.

 

The higher disbursement is based on sharply increased inflow of registered FDI in 2007 and 2008. Next year, Vietnam will focus on attracting FDI into projects of hi-tech and competitive goods fields, the ministry said.

 

The registered FDI flows are forecast to drop due to underdeveloped transport and power infrastructure systems, low quality of human resources, the ministry said.

 

Phan Huu Thang, head of MPI’s Foreign Investment Department said Vietnam is pressured to boost FDI disbursements. (Young People, Investment)