Posted on 19 Aug 2008
ASEAN gives 40% foreign investment
ASEAN member-countries have invested nearly US$17.5 billion
in Viet Nam
this year, accounting for 40 per cent of the total foreign direct investment in
the period.
Most ASEAN projects have been on a large scale and focused
on property development.
Oil-rich Brunei
has invested $4.41 billion in 14 projects, with a single project by the New
City Properties Development Company accounting for $4.3 billion. The project
involves construction of a complex of luxury hotels, resorts and amusement
facilities in Phu
Yen Province.
Brunei
has jumped from 27th place to 10th out of 81 countries and territories
investing in Viet Nam.
Malaysia
has signed 28 new projects with a total investment of $5.07 billion.
The biggest, a university urban area in HCM City
by Berjaya Leisure Corporation, involves an investment of $3.5 billion.
Singapore
is set to invest $4.02 billion in 48 projects, including a $1.2 billion telecom
joint venture in the southern hub.
Thai firms have been licensed to invest $4 billion in 16
projects. The Long Son oil refinery plant in Ba Ria-Vung Tau accounts for $3.7
billion of that amount.
Other ASEAN investors include the Philippines
with 37 projects and $277 million, Indonesia
with 21 projects and $178 million, Laos
with nine projects and $48 million, and Cambodia with six projects and $6
million.
The bloc has, to date, 1,086 projects involving a total
investment of $33.85 billion, or 25 per cent of the total foreign investment in
the country.
Most ASEAN firms are involved in real estate, manufacturing,
tourism, trading, food and drinks processing.
Vietnamese businesses too are stepping up investments in
ASEAN countries.
Viet Nam
has a cumulative investment of $1.66 billion in 190 projects in these
countries.
It has 123 projects worth $1.28 billion in Laos, seven projects worth $163 million in Malaysia, 34 projects worth $153 million in Cambodia, 19 projects worth $29 million in Singapore, three projects worth $21 million in Indonesia, and four projects worth $10 million
in Thailand.
Vietnamese investment in ASEAN countries is mainly in
hydropower projects, trading, transportation, health care, rubber farming,
timber exploitation, and services.
