Wednesday, August 09, 2006

BVI keeping strong positions in Vietnam foreign investor’s list

We already discussed Vietnam foreign investment environment and results till March 2006 in the blog BVI foreign investment in Vietnam. Recently Vietnam officials reported on the seven month results that show the BVI keeping very strong positions as a foreign investor in HCM City.

In accordance to the results for the first seven months, the British Virgin Islands are among the first six foreign investors’ countries in HCM City. The largest new foreign investments come from Hong Kong, with two projects which are worth 605 million U$, the Republic of Korea which has invested 44.2 million U$ into 38 projects, Japan with 41.5 million U$ invested into 29 projects, the British Virgin Islands with 36.5 million U$ invested into 7 projects. Also Singapore and Taiwan have invested 11.4 million U$ (15 projects), and 3 million U$ (9 projects) respectively.

As we can see these projects are quite different and Hong Kong having the least number of projects keeps the first position in the average value of the project.

The second by their average value investment projects are held by the BVI investors – in average they make 5.21 million U$ per project. Other investing countries have substantially smaller projects - Japan 1.43 million U$, the Republic of Korea 1.16 million U$, Singapore 0.76 million U$, and Taiwan only 0.33 million U$.

Totally, during these seven months licenses were granted to 155 foreign direct investment projects for HCM City. Compared with the same period last year, the number of new projects in HCM City increased by five. Combined investment capital increased by three and made 780.2 million U$.

The projects of foreign investors in HCM City include 126 those which are wholly foreign owned, worth 719.7 million U$, 27 joint venture projects, worth 47.8 million U$; and two business cooperation contracts, worth 12.7 million U$.

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