US $885 Million of Foreign Investment
Nhandan July 4, 1999 - Vietnam has attracted some US $885 million as investment capital in the first half of 1999, according to statistics released by the Ministry of Planning and Investment (MPI).
According to MPI figures, there were 109 new foreign direct investment (FDI) projects with total investment capital of US $601 million and 58 existing projects were also applying for capital increase. There are now about 2,123 foreign direct investment projects in effective operation in Vietnam to date with total invested capital of over US $35 billion.
There are also major projects on bitumen and gas productions waiting for licences.
Of particular interest is that this year saw foreign investor make investments in insurance in the form of 100 per cent foreign owned investment, improvements to the investment environment with international telephone charges and preferential treatment to foreign investors in a bid to attract more foreign direct investments.
