Vietnam Southern City Cuts FDI Attraction Target to US$2 Bln in 2009
Vietnam's southern province of Dong Nai has lowered a target of FDI attraction to US$2 billion next year, down from US$3 billion this year, the Dau Tu newspaper said, citing a senior official.
In the face of the global recession, Dong Nai plans to boost fiscal spending of VND2 trillion to VND3 trillion on infrastructure projects to entice big foreign groups mainly in high tech, mechanical, electric equipment, telecom, supporting industries for apparel sector, Huynh Thi Nga, vice chairwoman of the Provincial People's Committee said.
Local authorities will launch a website to actively solve difficulties for investors, Nga said.
This year, the province will attract US$3 billion FDI projects, doubling the target, of which it has licensed 80 new projects with registered capital of US$2.2 billion.
Dong Nai has dropped out the top ten of provinces in terms of competitiveness index, according to a recent survey by the Vietnam Chamber of Commerce and Industry (VCCI) on more than 7,800 companies. (Investment)
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