A hundred and sixty three projects of national importance in three major fields of industry-construction, agriculture-forestry-fisheries and tourism and services were listed by the Prime Minister in Decision No. 1290/QD-TTg of September 26, on national projects calling for foreign investment during 2006-10.
A hundred and sixty three projects of national importance in three major fields of industry-construction, agriculture-forestry-fisheries and tourism and services were listed by the Prime Minister in Decision No. 1290/QD-TTg of September 26, on national projects calling for foreign investment during 2006-10.
This list includes important projects in which investment has been approved by the state and may be adjusted in each specific period to meet the requirements of national development.
In the industry and construction field, which attracts the largest share of foreign investment capital, there are 109 projects in infrastructure construction, mining and metallurgy, manufacture mechanical engineering, electricity, petrochemicals, chemical production, building material production, high technology, etc.
Tourism and services projects include 48 in post and telecommunications, healthcare, education and training, urban infrastructure, and hotels and tourism. The agriculture, forestry and fisheries sector welcomes investment in six projects.
Depending on the size and characteristics of each project, the Prime Minister may decide to set up working teams composed of representatives of concerned ministries, branches and localities to promptly and effectively deal with issues likely to arise. Ministries, branches and localities are requested to coordinate with and assist foreign investors in preparing for project formulation and execution, and to coordinate with the Ministry of Planning and Investment in compiling project introduction documents to serve as a basis for seeking investment.
The Ministry of Planning and Investment acts as a general coordinator, grants investment certificates for the listed projects, and coordinates with the Ministry of Finance and concerned parties in studying and proposing investment incentives and investor support mechanisms and policies applicable to special projects for decision and promulgation by the Prime Minister.
According to Ministry of Planning and Investment, the first nine months of 2007 saw total FDI in Vietnam of USD 8.29 billion in 1,045 registered projects. FDI is reportedly concentrated in industry, with a registered capital of USD 4.17 billion and accounting for 50.4% of the total, services, attracting USD 3.9 billion (47.6%), and agriculture, forestry and fisheries, USD 220 million.
(Source: VietnamLaw)
