Vietnam to entice more foreign investment

Vietnam to entice more foreign investment
Published: 18 November 2004

Vietnam is expected to lure 4.2-4.5 billion US dollars worth of foreign direct investment (FDI) next year, partly by opening wider doors to investors in such important industries as cement and electricity.

The country, which attracted FDI of 3.5 billion dollars between January and  mid-November, is likely to entice 4 billion dollars in the whole year,  sources from the Ministry of Planning and Investment said on Thursday,  noting that it initially targeted to lure 3.3 billion dollars in 2004, up  6.5 percent against 2003.

To receive stronger foreign cash flows in the years to come, Vietnam is likely to allow more active foreign participation in several fields. Specifically, foreign partners in cement joint ventures can decide their proportions of investment capital contribution, instead of being limited to the current cap of less than 60 per cent.