Vietnam attracted $1.558 billion from foreign direct investment (FDI) projects in the first two months this year, representing 68 percent of the figure in the same period last year, said a report by Vietnamese General Statistic Office.
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| Vietnam will prioritize attracting FDI to develop the infrastructure, hi-technology, supporting industries and highly competitive products for export |
According to the Vietnamese Ministry of Planning and Investment (MoPI), the FDI situation will see some changes in 2011 as the country will concentrate on raising the quality rather than the quantity of FDI projects.
MoPI said Vietnam will prioritize attracting FDI to develop the infrastructure, hi-technology, supporting industries and highly competitive products for export this year.
Dang Huy Dong, Deputy Minister of MoPI, said it is a positive move when a number of FDI projects have cut their capital and changed the direction of their investments.
He said that the MoPI plans to carry out investment promotions in special areas, branches, sectors and regions to take advantage of the country\'s potential and strengths.
The MoPI is scheduled to work with the Ministry of Agriculture and Rural Development to draw up policies to attract FDI for seafood processing and exports including preferential tariffs.
A similar policy for the supporting industry will be carried out with the assistance of the Ministry of Industry and Trade.
According to MoPI, the FDI sector accounted for 25.8 percent of the country\'s total investment fund last year.
According to the report, the investment includes $1.47 billion in 93 newly licensed projects and $86 million of additional capital for 14 existing projects.
Vietnam has set a target of attracting about $20 billion FDI in 2011, with $11billion-$12.5 billion expected to be disbursed.
