Investors Pledge to Pour VND12T in Vietnam Northwestern Region
Domestic and foreign investors have pledged to invest a total of VND12 trillion ($615.38 million) in Vietnam northwestern region at investment promotion forum 2010 held in Yen Bai, the government said on its website.
The forum, which attracted participations of Deputy Prime Minister Truong Vinh Trong and more than 500 delegates, gave priority to three fields of agro-forestry product processing, infrastructure improvement, and tourist and services development.
The local small and medium enterprises mainly operate in such fields as mining, metallurgy, energy industry, agro-forestry and marine product processing, and rubber cultivation.
As of October this year, the northwest region licensed 253 foreign-invested projects with a total registered capital of $1.53 billion. Lao Cai, Phu Tho and Lang Son are favorite places for foreign firms.
However, economic experts said that weak transport infrastructure and cumbersome administrative procedures are hindering foreign investments, urging the Vietnamese agencies to take drastic measures to call on more foreign investors for the region. (chinhphu.vn)
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