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Foreign investment reaches $8.7bil during first half of year   2009-06-23 - Viet Nam News

The country has attracted US$8.7 billion in foreign direct investment despite the global economic downturn, Director of the Foreign Investment Agency Phan Huu Thang said yesterday, June 22.

According to reports from cities and provinces, in the first six months as many as 306 projects were licensed with a combined registered capital of $4.7 billion and 68 existing projects were allowed to increase investment capital by a total of $4.1 billion.

Accommodation and restaurants are the most favoured projects by foreign investors with nearly $4.5 billion registered.

No more projects in this sector received licences this month.

The industrial and manufacturing sectors surpassed real estate investment to become the second largest investment hotbed with $1.56 billion registered capital, of which $1.38 billion was newly-registered.

Export services in the FDI sector in the first six months is expected to reach $13.6 billion or 81 per cent against the same frame last year making up 49.3 per cent of the nation's total.

Import value is expected to top $10.5 billion.

Director Thang said by the year end, new FDI capital would reach $20 billion and $8 billion would be disbursed. These figures were adapted to the country's GDP of 5 per cent this year.

This year FDI declined much from last year's $71.7 billion, he said.

The agency forecasts that next year, newly-licensed FDI capital will reach $22 billion or an increase of 10 per cent against this year. Export value will increase by 24.8 per cent and import value up by 38 per cent against 2009.

Ha Noi FDI hits $500 mil

Ha Noi authorities licensed 110 foreign direct investment projects with a combined registered capital of $500 million in the first half of this year, the municipal Statistics Department said.

These projects include a $382 million wastewater treatment plant invested by the Malaysian group Gamuda Land, and a $54 million joint venture to provide Direct-To-Home (DTH) satellite television service, between the Viet Nam Television Station (VTV) and the France-based Canal Plus television group.

During the reviewed period, the city also permitted 10 operational projects to add $12 million in capital.

According to the department, the city's six-month social investment is estimated to reach VND48.5 trillion (roughly $2.77 billion), a year-on-year increase of 14.2 per cent.

The city granted business certificates to 9,350 enterprises, up 45 per cent over the same period last year, which registered a total investment of VND53.89 trillion (around $3.07 billion), down 34 per cent year on year.

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