South rings up $15 billion in FDI

The southern region has long been an attractive destination for foreign investors. More than 23 countries and territories have, for instance, invested in the Viet Nam Singapore Industrial Park (VSIP) in the southern province of Binh Duong, generating more than 45,000 jobs.

The southern region has long been an attractive destination for foreign investors. More than 23 countries and territories have, for instance, invested in the Viet Nam Singapore Industrial Park (VSIP) in the southern province of Binh Duong, generating more than 45,000 jobs.

Foreign investors have invested US$15.3 billion in 2,203 projects in the southern provinces of Viet Nam so far this year, an official has said.

The southwest area is attracting more and more foreign investment, with the 13 provinces of the Mekong Delta now with 33 new projects worth a total of $800 million.

Among the provinces, Hau Giang ranks first in FDI with $629 million.

The Southeast Steering Committee is working with the Southwest Foreign Investment Centre under the Ministry of Planning and Investment to lure more investment.

Related authorities have planned a project to attract investment and trade promotion for Delta provinces through 2010.

According to leaders from the southwest provinces, transparency and simplified procedures would be a plus to attract investors and encourage them to take full advantage of land and labour force.

HCM City and southeast provinces still remain a priority in foreign investors’ eyes because of the advantages of location, human resources and favourable investment policies.

My Phuoc Industrial Park in Binh Duong Province has a new $300 million tyre-producing factory and Ba Ria – Vung Tau Province has approved a $136 million project in Phu My 1 Industrial Park.

Recently, in HCM City, the US-based Intel Corporation announced that it would enlarge its factory in the Sai Gon Hi-Tech Park by investing an additional $1billion to the total investment so far of $300 billion.

The Foreign Investment Centre, and the Ministry of Planning and Investment said more FDI projects would be deployed in the provinces of Ba Ria – Vung Tau, Binh Duong, Dong Nai and in HCM City.

(Source: VNS)