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Healthy investment environment lures larger FDIs
02
Jan '08
Vietnamese Government can proudly boast of luring many international investors to the country through friendly investment policies. South Korea tops the chart of 82 foreign direct investors in the country for last year.

South Korea has made investments in 403 projects during 2007 by financing nearly US $4.2 billion, which is the highest figure for one year. Last year Vietnam enjoyed total foreign direct investment (FDI) capital of $20.3 billion.

According to statistics gathered from Foreign Investment Department under the Ministry of Planning and Investment, South Korean companies poured further $467 million into existing projects of Vietnam.

The previous year saw a significant change in the investment scenario as finances mainly flowed in real estate, power, chemical, petrochemical and steel production investment instead of traditional garments and footwear sectors.

Low cost labour, improved investment environment and strategic placement in the map as a center of the ASEAN bloc, has put in Vietnam at an advantageous position for such streaming foreign investments, according to experts from Korean Trade-Investment Promotion Agency (Kotra).

However, poor infrastructure, high land costs and language barriers are the sources of anxiety for the South Korean investors.

Previous year's figure of $20.3-billion FDI renders a year-on-year growth of about 69 percent.

Other countries who invested in Vietnam are Russia with $1.7-billion for Vung Ro oil refinery in the Central Province of Phu Yen and Malaysian $900-million Yen So complex in Hanoi.

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