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Vietnam state oil and gas group PetroVietnam seeks investment of $7-$7.5 billion from European firms to help fund eight major projects, including the country’s first liquefied natural gas (LNG) terminal, a senior executive said.
Vietnam National Coal and Mineral Industries Group (Vinacomin) in Nov 2012 signed a loan contract with Citi Vietnam to borrow US$300 million to finance its bauxite mining and alumina refinery project in Lam Dong.
More than US$800 million in foreign direct investment so far this year has been disbursed in the southern province of Dong Nai, the highest figure since 2008, said provincial Department of Planning and Investment director Bo Ngoc Thu.
Huge investment demand in Vietnam’s infrastructure sector is attracting attention of US companies which have experience and strong financial ability.
The Ministry of Transport and Deo Ca Investment Co. on Sunday started work on the Ca Pass Tunnel project on National Highway 1A connecting Phu Yen and Khanh Hoa provinces, which will be of paramount importance for socio-economic development in the region upon its completion.
Two-thirds of businesses in Viet Nam have adopted a stronger focus towards the domestic market since the global financial crisis broke out, a new report says.
Four key investment funds last week underlined their confidence in Vietnam by voting to continue operations in the country.
According to a recent HSBC survey, Vietnam stands 10th on the overall Expat Explorer Economics league table that ranks countries and territories based on a number of factors such as earning levels, disposable income and ability to accumulate luxuries. Singapore tops the list.
With the economic growth rate of 4.77 percent in the first nine months of the year, analysts believe that the GDP growth rate would be 5.2 percent for the whole year of 2012. The figure is believed to be "satisfactory,” which truly reflects the current circumstances.
A credit agreement to fund the Vietnam Distribution Efficiency Project was signed in Hanoi in November 2012 between the Electricity of Vietnam and the World Bank.
In the future only 5-star hotels, not 3-star ones as at present, will be allowed to set up casinos to serve foreign gamblers, according to a draft decree of the Finance Ministry.
