Friday, November 30, 2007

11 Month FDI Statistics in Vietnam: $15 Billion Attracted, BVI the Second in the List of Top Investors

According to the 11 months statistics on Foreign Investments in Vietnamese economy, in this period the country attracted $15 billion in FDI. Pahn Huu Thang, the director of the Foreign Investment Department at the Ministry of Planning and Investment, attributed this to the country's political stability and the fact that investors gained more confidence in the economically booming Southeast Asian country. He also said that Vietnam's admission into the World Trade Organization contributed to the rise in foreign investment.

The list of foreign investors in the 11 months through November is topped by South Korea, with the investment capital of $3.7 billion. The British Virgin Islands are, again, in the second place with $3.5 billion, - compared to US$1.73 billion FDI, reported in the 10 month statistics. The BVI are followed by Singapore with $1.5 billion.

By words of Thang, they expected foreign investments to top $16 billion till the end of this year, - the amount that would top last year's previous annual record of $12.2 billion by more that 30%.

Since 1988, the government of Vietnam has licensed more than 8,000 foreign investment projects worth about $80 billion.

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