Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates

Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

The 10 biggest FDI projects in 2009   2009-12-30 - TBKTVN

The global economic recession has slowed foreign direct investment (FDI). FDI in Vietnam for 2009 is equal to 30 percent of that in 2008. Still, many huge investment projects have been registered in Vietnam, ones that will provide foreign investors attractive profits.


According to Thoi Bao Kinh Te Vietnam, the 10 biggest FDI investment projects in terms of registered capital in 2009 include six real estate projects, two projects in accommodation services, one processing industry project and one mining project. 

The top 10 FDI projects are capitalized at $12.7 billion, of which real estate projects alone make up $6.48 billion. Most were just granted licenses in the fourth quarter of 2009.

Five FDI projects have registered capital of over one billion dollars, four of which were registered in the second half of the year.

All the projects are expected to be carried out in central and southern regions, since procedures for land allocation and investment licenses are simpler than in the north.

Of the 10 biggest projects, Ba Ria – Vung Tau has three projects, Dong Nai has two, while the provinces of Quang Nam, Phu Yen, Binh Duong and HCM City have one project for each.

All except one of the projects have chartered capital lower by tens of times than the registered capital. Analysts warn that foreign investors may not bring foreign money, but plan to mobilize capital in Vietnam to carry out the projects.

Here are the top 10 projects (in order of decreasing capital volume):

1. Dragon Ecological Tourism Complex, invested by the US TANO Capital, LLC and Global C&D, INC.

The project will cover 400 hectares in Quang Nam, including nine high grade hotels with 15,000 rooms, an international conventional centre with 10,000 seats, a trade centre and office area, villas and apartments.

The chartered capital of the project is $100 million, or 1/41.5 of the registered capital ($4.15 billion).

2. Nhon Trach Berjaya New City project, invested by Berjaya Land Berhad’s, a subsidiary of Malaysian Berjaya Group.

The two billion dollar project would cover 600 hectares, including 18-45 story housing blocs, service and cultural buildings

3. Binh Duong housing project, invested by Phu Thang Long Company, a joint name of Smart Dragon Development LTD (Samoa) and Tuster Development LTD (Seychelles)

There will be 90,000 apartments for low and medium income earners. The chartered capital of the project is $10 million, just 1/170 of the registered capital of $1.7 billion.

4. Nam Tuy Hoa creative city project, invested by the US Galileo Investment Group.

The project will cover an area of 1,347 hectares in Tuy Hoa City and neighbouring districts. Its chartered capital is $350 million, just ¼ of the registered capital of $1.68 billion.

5. A steel complex project, invested by China Steel Sumikin Vietnam, a joint venture of Taiwanese China Steel and Japanese Sumitomo Metal Industries and Sumitomo Corporation.

The steel mill will cover 109 hectares in My Xuan A2 Industrial Zone in Ba Ria – Vung Tau. It will churn out high quality steel products for shipbuilding and engine manufacturing. The chartered capital of the project is $574 million, or ½ of the registered capital of $1.14 billion.

6. Toc Tien new urban area project, invested by South Korean Charm Urban Development, has chartered capital of $150 million, or ¼ of the registered capital.

7. Safari zoo project and Binh Chau resort has total investment capital of $500 million.

8. Geologic survey and oil exploitation at blocs 129 to 132, run by Russian Gazprom-Zarubejneftegaz.

The contract is valid for 30 years, with a possible extension of five years. Its chartered capital and registered capital is $382.2 million.

9. The 9A2 complex project – the South HCM City new urban area, invested by Viet Lien LUKS (British Virgin Islands).

The project will be located on 19.4 hectares in Binh Chanh district, including a housing section and a trade area, and will have 4,000 residents. Its chartered capital is $79 million, or ¼ of the registered capital.

10. Phu Hoi new urban area, developed by Phu Hoi Urban Area Company, a joint name of Licogi (70 percent of capital), Vinaland Eastern Limited (22.5 percent) and Vinaland Heritage Limited (7.5 percent)

The project has the chartered capital of 985 billion dong, or $56 million, while the registered capital is $205.7 million.

Other news

Hottest real estate issues of 2009   2009-12-30

BUSINESS IN BRIEF 30/12   2009-12-30

Parkson says Vietnam business its fastest growing   2009-12-30

Shop owners hope the New Year means new purchases   2009-12-30

Industrial production up 7.6%   2009-12-30

Cash flow to stock market forecast to be weaker in 2010   2009-12-30

High rates, too little collateral leaves loans hard to come by   2009-12-30

Shoemakers shoot themselves in the foot   2009-12-29

Stock brokers live life in the fast lane   2009-12-29

Stock market review 2009   2009-12-29

Seafood sector lacks quality breeds   2009-12-29

Rice export hits record high of 6 million tonnes   2009-12-29

Vietnam spends $1.17 billion to import autos   2009-12-29

30,000 apartments to go on market over next few weeks   2009-12-29