Vietnam Southern Provinces Expect to Attract More FDI Projects This Year
Vietnam’s southern provinces of Ba Ria-Vung Tau, Dong Nai and Binh Duong expect to attract more foreign direct investment (FDI) projects this year.
Ba Ria-Vung Tau, which led the nation’s cities and provinces in attracting the most FDI nationwide last year, expects to absorb over US$1.97 billion from 20 FDI projects this year.
In 2009, the Ba Ria-Vung Tau province licensed 26 new projects totaling US$2.9 billion and allowed 12 existing projects to add US$3.9 billion, Le Kim Huong, director of provincial Department of Planning and Investment said.
Meanwhile, Dong Nai province sets a target of drawing US$1.5 billion in FDI this year. In 2009, the province estimated to pull in US$3 billion, down 5.33% from a year earlier while Binh Duong province targets at US$1 billion in FDI.
Binh Duong licensed 99 new projects totaling US$2.5 billion and allowed 125 existing projects to add US$446 million last year. Among those, the biggest project costs US$1.7 billion, making up 84% of total FDI. (VNS)
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