Vietnam to Focus on Clean FDI Projects-Minister
07/01/2008 06:22 pm
UB.Laws/Hanoi - Vietnam will tighten control over licensing
FDI-invested projects, and focus on environment-friendly and advanced
technologies in a bid to maintain sustainable development, Minister of
Planning and Investment Vo Hong Phuc was cited as saying on January 3,
2008.
Phuc noted the government of Vietnam will not
apply a rigid regulation, but to apply environment standards in an
effort to reduce step by step environment-polluted projects, local
Financial Investment newspaper of the Ministry of Finance.
Danang municipal authorities turned down two giant FDI projects worth billion dollars due to environment problems, Phuc said.
To maintain the high and sustainable economic
growth rate, Vietnam is facing two hurdles: underdeveloped
infrastructure networks and shortage of high-quality labor force, which
is limiting capital absorbability, pushing up production costs, the
minister emphasized.
Vietnam was estimated to have disbursed US$2
billion in ODA funds last year, up 14 per cent on year, according to
the ministry’s figures and the country has set a goal to disburse
US$2.2 billion in ODA funds annually from now to 2010, state media
reported.
Besides, Vietnam will encourage private sectors to invest in the fields, Phuc added.
The government has issued the list of 163 key
projects call for foreign investment from now to 2010. Vietnam needs to
attract US$53 billion for industrial and construction sector, US$7.8
billion for tourism and services.
Vietnam ranks the sixth among the world’s top ten foreign investment destinations, Phuc said.
Source: VCCI
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