Analysts said foreign direct investment (FDI) inflows into Vietnam are increasing thanks to the global economic recovery.
Foreign investors came back Vietnam to resume projects which have been postponed due to their capital shortages amid global economic recession, or even start new ones, the analysts added.
Earlier this year, Taiwan’s Uni-President started construction of a US$140 million plant to produce flour, instant noodles and cattle-feed in the central province of Quang Nam after the standstill. The firm plans to operate its plant early next year.
Meanwhile, Guang Lian Steel Vietnam Ltd., Co., a joint venture between Thailand’s Tycoons Steel Worldwide Group and Taiwan’s E-United, will raise its steel plant’s capacity to 5 million-7 million tons of products after 3-year halt.
Besides, Hong Hai Corp under Taiwan-based Foxconn Group, the world leading electronics provider, invested US$200 million into building a mobile manufacturing factory in the north.
Hong Ha Corp also plans to coordinate with Kinh Bac City Development Share Holding Corp (KBC) to form a joint venture to build a US$200-million urban and hi-tech park in the northern port city of Haiphong.
Positive signals on Vietnam FDI disbursements in the first half of this year indicated that Vietnam can completely fulfill its set disbursement target of US$11 billion for 2010, Dr. Phan Huu Thang, director of Center for Foreign Investment Studies said.
Between January and June, Vietnam licensed 438 foreign-invested projects totaling US$7.9 billion and allowed 121 existing projects to add their capital by US$525 million.
Foreign investors disbursed US$5.4 billion in the South Asian country during the 6-month period, rising 6% from a year earlier.
This year, the Southeast Asian country expects to attract US$25 billion, up 16.38% on-year. (VNA)
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