Business

EU pours 19 billion USD into Vietnam

The capital city of Hanoi ranked first in the nation in attracting investment from European Union countries, with 357 projects worth 3 billion USD, according to the Foreign Investment Agency (FIA).
The capital city of Hanoi ranked first in the nation in attractinginvestment from European Union countries, with 357 projects worth 3billion USD, according to the Foreign Investment Agency (FIA).

EUinvestors have funded projects in 52 provinces and cities, focusing onBa Ria-Vung Tau, Quang Ninh and Dong Nai as well as Hanoi and Ho ChiMinh City. The agency reported that 23 out of the EU's 28 member stateshad invested nearly 19 billion USD in Vietnam with 1,535 valid projectsas of October 20.

The Netherlands topped the list with 221projects with registered capital of 6.58 billion USD, accounting for34.7 percent of EU investment in the country.

France rankedsecond with 418 projects with investment capital of 3.3 billion USD, or17.4 percent of EU investment. The UK and Germany followed with 2.82billion USD and 1.33 billion USD respectively.

The EU countriesare mainly interested in the Vietnamese processing and manufacturingindustry. EU investors play a large role in this industry with 547registered projects worth over 6 billion USD, 31.8 percent of totalinvestment. They have also invested 3.52 billion USD in 19 projects inthe electricity and gas sector, as well as additional capital in theinformation and communications, real estate and mining sectors due totheir economic potential and technological advantages.

The EU's major projects in Vietnam

The2 billion USD Mong Duong 2 BOT coal-fired power plant, with two unitsand capacity of 1,240MW, is currently under construction in Mong Duongprecinct, Cam Pha city, Quang Ninh province. The project owner isAES-VCM Mong Duong Power Company Limited.

A business cooperationcontract on CDMA 800Mhz mobile phone network services between VietnamPosts and Telecommunications Group (VNPT) and HutchisonTelecommunication, R.L (Luxembourg) with a total investment of 1.04billion USD.

A business cooperation contract ontelecommunications between Vietnam Posts and Telecommunications Group(VNPT) and France Cables et Radio in Vietnam (France) to build newconstruction works, upgrade and provide telecommunications services witha total investment of 615 million USD.

A business cooperationcontract on Nam Con Son gas pipelines signed by PetroVietnam, BPPipelines in the field of design, construction and operation of gaspipelines with a total investment of 607 million USD.

A business cooperation contract on Cai Mep Port invested by Terminal Link of France with registered capital of 520 million USD.-VNA
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