Socialist Republic of Vietnam

Ha Noi, March 31 (VNA) -- U.S. investment in Viet Nam has increased by almost 400 times during the past decade to more than USD 1 billion from USD 2.5 million in 1990.

Industry is the major attraction - more than USD 660 million in 60 projects or two-thirds of the total - reports Ha Noi Moi, New Ha Noi, daily.

For example, automobile maker, Ford Viet Nam, has design capital of USD 102 million.

The services sector is next with estimated total registered capital of USD 275 million in 30 projects.

Four major U.S. banks - City Bank, the Bank of America, the United Overseas Bank and the Manhatan Bank - have opened and U.S. investors have financed projects in the food and animal fodder industries.

The more than USD 131 million invested in agriculture includes USD 76.2 million in the Cargill fodder-making projects; USD 12 million in the Dor Shing Company's soyabean milk projects; and USD 4.1 million in seafood-processing project in southern-coastal Bac Lieu province.

U.S.-invested projects employ more than 3,000 workers and thousands of spin-off occupations.

In turn, they net an estimated USD 300 million a year.
But U.S. direct investment is still modest, just 3.5 percent of foreign direct investment in Viet Nam. Furthere there has been a high rate; 18 percent, of withdrawals and low capital disbursement, 30 percent.--VNA