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Vietnam calls for foreign investment in 157 projects worth over US$70 billion in 2021-2025

  • Nov 03, 2021

The Vietnamese Government promotes foreign investments in projects ranging from transport infrastructure to education, healthcare, and services worth over US$70 billion.

Deputy Prime Minister Pham Binh Minh signed off Decision No.1831/QD-TTg announcing a portfolio of 157 national projects subject to foreign investment during the 2021-2025 period.

These projects cover different fields including transport infrastructure, industrial parks, economic zones,  energy development, IT infrastructure, waste treatment, education and healthcare infrastructure, cultural, sport, and tourism infrastructure, agro-forestry-fishery, production, and services.

In terms of transport infrastructure, Vietnam is calling for foreign investment in a number of large-scale projects such as the urban railway No.4 in Ho Chi Minh City; Hon Khoai seaport (Ca Mau Province); railway section Trang Bom – Hoa Hung connecting Dong Nai – Binh Duong and Ho Chi Minh City; or deep-water seaport Tran De (Soc Trang Province).

The Government also invites foreign investment in the construction and operation of an industrial park in the North of the Ben Luc District (Long An Province), construction of Ninh Co Economic Zone (Nam Dinh Province), and infrastructure development at Hoa Ninh Industrial Park (Danang).

Projects in the fields of education and healthcare consist of the construction of a general hospital with 1,000 beds as part of the Hanoi National University project at Hoa Lac; construction of International University under the Hanoi National University; upgrading the Tuyen Quang Province General Hospital and health centers in districts of Yen Son of Ham Yen (Tuyen Quang Province).

The decision specifies the project objective, location, total investment capital, financing method, and the contact for reference.

Deputy Prime Minister Minh instructed the Ministry of Planning and Investment to carry out the decision and collaborate with related agencies/localities in drafting the detailed description for each project.

The result should be reported back to the Prime Minister for review or modification if needed.

Vietnam attracted over US$23.7 billion in FDI commitments for the first 10 months of 2021, up 1.1% year-on-year, including 1,375 fresh projects with registered capital of over $13 billion.

Meanwhile, the disbursed FDI amount was estimated at $15.15 billion during the period, down 4.1% year-on-year. Out of 97 countries and territories having investment projects in Vietnam, Singapore led the pack with $6.77 billion, followed by South Korea ($4.15 billion) and Japan ($3.4 billion).

Hanoi, meanwhile, received $1.2 billion in FDI commitments during the January-October period, including 256 fresh projects with $196.2 million.

The majority of FDI to Hanoi was concentrated in the manufacturing and processing sector, real estate, construction, and services.

Source: https://hanoitimes.vn/vietnam-calls-for-foreign-investment-in-157-projects-worth-over-us70-billion-in-2021-2025-319158.html