Vietnam Foreign Investment Approaches $20B

Vietnam now expects to reach its 2009 goal of $20 billion in foreign direct investment this month after Quang Nam Province licenced US firms Tanoil Capital and Global C&D to build a $4 billion eco-tourism zone there and Malaysia’s Berjaya Group was licensed to build a $2 billion city in the southern Dong Nai Province.

That brings the total of pledged foreign capital for the year to $18.7 billion, and the central province of Phu Yen has promised to license the US Galileo Investment Group to build a $1.7 billion township.

These developments suggest a recovering global economy and confidence in Vietnam’s efforts to improve the business environment.

More on FDI in Vietnam


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