Record FDI Attraction $ Increasing Investment outside the Border

摘要

Decentralisation to localities is a remarkable thing in Foreign Direct Investment (FDD activities in Vietnam in 2007. Up to now, as many as 60 provinces nationwide have granted licences to FDI projects under current laws. With US$20.3 billion registered FDI, 2007 witnessed the highest FDI since Foreign Investment Laws were first implemented in 1988 and a disbursement rate as high as 30 percent (equal to US$4.6 billion). Besides, Vietnam's investment outside the border is on an upward trend. "Vietnam is witnessing the second wave of FDI into the country, not only the amount of FDI hit a record in 2007, but more and more large scale and hi-tech projects are also finding their way to Vietnam," affirms Air Phan Huu Thang, head of the Ministry of Planning and Investment's Department of Foreign Investment. During the past 20 years, since Vietnam promulgated the first Foreign Investment Law (in 1987), the country has attracted 9,500 FDI projects with registered capital totalling US$98 billion (increased FDI included). 2007 alone attracted a record FDI of US$20.3 billion, up 69.3 percent against 2006. The distributed FDI hit US$4.6 billion, rising by 12.2 percent against the last year and 2.2 percent over the yearly plan (US$4.5 billion).