Since 1996, the annual infrastructure investment is some 10 per cent of the country's GDP, said Andrew Hong at a forum between Vietnamese and the U.K. businesses held in Ho Chi Minh City February 24. He added that, "If you look at World Bank standards, infrastructure investment should be double GDP growth at about 15 per cent". But Hong said Vietnam needs raise private investment to develop infrastructure, not mostly depend on ODA and the government funding. By 2010 the government's share is expected to decline to 23 per cent of total infrastructure spending, while private investment will rise to 44 per cent. Meanwhile, Paul Hoogwaerts, Vietnam representative of Maersk, the world's top shipping firm, also said Vietnam's economy is heavily dependent on exports, which represents 70 per cent of GDP in 2008. But exporters have long complained about inadequate transportation infrastructure as this makes it difficult for their goods to reach customers in Europe and the U.S. (Vnbusiness) … [Read more...] about Vietnam Should Boost Infrastructure Investment: Analysts
Infrastructure investment
Infrastructure Investment Stepped up
, and are now ready for investors. Mr Le Van Huong, Head of Tien Giang Department of Planning and Investment disclosed to Vietnam Business Forum. Will you please, give us the evaluation of local and foreign investments in the province in 2009? In 2009, the total social investment in Tien Giang was VND10,525 billion, 24 percent more than 2008, including: FDI: three projects with total registered capital of US$11.77 million and two projects with additional investment US$23.8 million. Local investments: 550 new enterprises established in 2009, 16 percent more than 2008 with average investment capital of VND2.45 billion each. Due to the impact of the global economic crisis, FDI in 2009 was lower than 2008. FDI decreased in new projects, focused on existing projects and some projects asked for some delay in the implementation. It was reported that in January 2010, Tien Giang organized an Investment Promotion Conference and announced 117 investment projects with total investment … [Read more...] about Infrastructure Investment Stepped up
Conference on Tourism Infrastructure Investment Promotion into Mekong Delta
Main contents of the meeting will include: Promoting tourism infrastructure investment; creating opportunities for businesses, investors and credit institutions to meet to discuss cooperation in tourism infrastructure investment; sign cooperation and hand investment certificates to investors. The event will be also incorporated with investment project exhibition, bilateral contacting fair, agreement signing ceremonies, and field trip programmes. The conference aims to strengthen regional linkage to promote potentialities and advantages of the Mekong Delta while improving investment and business performance of enterprises in the Mekong Delta. This will offer opportunities for credit institution, large corporations, and foreign enterprises to meet, discuss and seek investment cooperation opportunities in Ca Mau province and the Mekong Delta region. Giang Tu … [Read more...] about Conference on Tourism Infrastructure Investment Promotion into Mekong Delta
HCM City pushes for infrastructure investments
Ho Chi Minh City is striving to attract infrastructure investments, particularly in urban transport and the environmental sector, Chairman of the municipal People's Committee Le Hoang Quan told the visiting Finnish Minister of Economic Affairs Jan Vapaavuori on October 21. Quan introduced Ho Chi Minh City as a thriving metropolis with a great potential for cooperation with Finland, especially in the fields of smart technology, clean water, transport, environmental hygiene, education and training. … [Read more...] about HCM City pushes for infrastructure investments
Deputy PM greets Asia Infrastructure Investment Bank’s leader
Hanoi (VNA) – Deputy Prime Minister and Foreign Minister Pham Binh Minh hosted a reception for D.J Pandian, Vice President and Chief Investment Officer of the Asia Infrastructure Investment Bank (AIIB) in Hanoi on January 18. Deputy PM Minh spoke highly of efforts of the AIIB’s member nations in accelerating the establishment and operation of the bank, which is now one of the key international financial organisations in the region. Just less than one year after its formation, the bank has set up ties with many international financial institutions and many countries have expressed their wish to become its members, he stressed. The Deputy PM hopes Vice President Pandian will give support and necessary consultation to Vietnam on areas where the AIIB and Vietnam can cooperate. He affirmed that Vietnam will effectively use loans provided by the AIIB for infrastructure development in the country, adding that Vietnam hopes the bank will become a reliable investment channel for … [Read more...] about Deputy PM greets Asia Infrastructure Investment Bank’s leader