Gov't plans to attract USD 12 billion foreign investment
Ha Noi, Sept. 4 (VNA) -- The Government has unveiled its ambitious plan to solicit USD 12 billion in foreign investment between now and 2005, considering this part of its effort to bolster the national economic development in the years to come.
In a recent regulation coded 09/NQ-CP, the Government said: "Foreign investment must be promoted to attract USD 12 billion of registered capital, with USD 11 billion to be disbursed, in the 2001-2005 period."
"Foreign investment will have to make up about 15 percent of gross domestic product (GDP), 25 percent of total export value, and 10 percent of State budget revenue (excluding oil and gas)," the regulation said.
To this end, the Government will give strong encouragement to foreign direct investment (FDI) in all industries producing goods for export, processing industries, and industries in favour of agricultural and rural economic development, it added.
Foreign investment will be also encouraged to carry out projects in the application of information technology (IT) and bio-technology as well as those in the oil and gas, electronic, new material and telecommunications sectors.
Top priorities will be given to FDI projects in remote, isolated and mountainous regions as well as areas considered as in the most difficult stage of socio-economic development, the Government said.
Foreign investors from all countries and territories, especially those from developed countries, will be encouraged to invest in Viet Nam, while overseas Vietnamese will be provided with every favourable condition to invest in their homeland, it said.--VNA
