Investment minister confident about FDI target

26/10/2007 -- 4:56 PM

Ha Noi (VNA) – Minister of Planning and Investment Vo Hong Phuc said on October 26 that he feels confident that 13 billion USD in foreign investment will be pumped into the country in 2007. The minister made the remarks in an interview with a Vietnam News Agency reporter on the sidelines of the 12 th National Assembly’s ongoing second session in Ha Noi. He cited a soar in foreign investment capital, especially committed capital, into Viet Nam recently, a series of investment promotion activities carried out by large economic groups and the disbursement of ODA and foreign direct investment to back up his claim. However, the minister admitted that weak infrastructure and limitations in human resources remain the two biggest problems facing Viet Nam to date. He stressed that developing infrastructure and a skilled workforce are necessary if the projects totalling around 50 billion USD that are queued up for investment licenses are to come to fruition. He went on to say that the government ministries and sectors are trying to ease investment procedures and the environment in order to win the trust of foreign investors. According to the Ministry of Planning and Investment’s foreign investment department, Viet Nam has drawn in 11.26 billion USD in foreign investment in the past 10 months, a rise of 36.4 percent over the same period last year.-Enditem
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