Top Ten FDI Projects in 2006 in Vietnam
- From VCCI, Vietnam - Wednesday, January 10, 2007
Foreign direct investment (FDI) inflows in Vietnam have reached a record high US$10.2 billion. The following is a list of the top ten projects:
1. Posco Steel Company (US$1.126 billion)
The leading Korean steel maker has planned to invest US$1.126 billion in hot-rolled and cold-rolled steel plant in the Phu My 2 Industrial Park, Ba Ria-Vung Tau province. The project, with operational duration of 48 years, has two phases. Accordingly, in the first phase, Posco will build a US$340 million cold-rolled steel plant by 2009 with an annual output capacity of 700,000 tonnes. The plant is expected to reach a capacity of three million tonnes per annum in the second phase.
2. Intel Products Vietnam (US$1 billion)
In early 2006, the US-based electronic and computer accessories company, Intel, was granted a licence to invest US$605 million in the Ho Chi Minh City Hi-tech Park. However, the investment capital was raised later to US$1 billion, making the project the biggest ever US-invested project. Some 4,000 labourers will work at Intelís plant in Vietnam.
This is the biggest production base among the seven Intel bases worldwide, which is expected to begin operation in 2009.
3. Tycoons Worldwide Steel (US$556 million)
The project, developed by Tycoons Steel International (Taiwan), is expected to be located in Dung Quat industrial park in Quang Ngai province. The mill is expected to have the capacity of two million tonnes per annum in the first phase (2006-2009). Tycoons Worldwide Steel Vietnam (TWS) is expected to increase its investment capital to US$1 billion in the second phase and increase its capacity to five million tonnes per annum. This is one of the biggest wholly-foreign-invested projects in the Dung Quat industrial park.
4. T.H.T Development Company (US$314 million)
The consortium, consisting of five companies, including Daewoo, Daewon and Keangnam, will be involved in the biggest urban development project in Hanoi, which is located in the western area of the Tay Lake. The project is implemented on an area of 207 hectares, including an administrative area of 25 hectares. The project will provide an accommodation area for 250,000 residents and is scheduled to be competed by 2014.
5. Winvest Investment Vietnam (US$300 million)
This is a 100 per cent US owned project, which will build a resort, five-star hotel and entertainment area in Ba Ria-Vung Tau province. The project, with an operational duration of 50 years, will be exempted from corporation income tax for the first two years and enjoy a 50 per cent reduction for the next three years.
6. Meiko Electronics Company (US$300 million)
The Meiko Group of Japan has decided to build a plant specialising in manufacturing electronic parts in Phung Xa industrial park in Ha Tay province. This is the biggest ever project in Ha Tay province, so far. Meiko plant will specialise in manufacturing and assembling printed electronic circuit boards. It hopes to create 7,000 jobs and gain a turnover of US$1.7 billion a year.
7. Central Saigon Container Port Company (US$249 million)
This is the joint venture between a subsidiary of the UK-based P&O Ports and Tan Thuan Industrial Development Company (ITC). The port area is located in the Hiep Phuoc port complex. It is expected to have a capacity of 1.5 million TEU a year. The port, ten kilometres from the Ho Chi Minh City centre, has an area of 40 hectares. Its two first quays out of four quays will be put into operation in 2008.
8. An Khanh urban area (US$211.9 million)
The An Khanh urban area in Ha Tay province is a project developed by a joint venture, which was set up by the Vietnam Construction Import and Export Corporation (Vinaconex) and Posco from the Republic of Korea. Once put into operation in 2020, this will be the biggest urban area in the north, covering an area of 264 ha. The total investment capital of the project is US$2.1 billion, of which, Posco from the Republic of Korea will contribute US$211.9 million.
9. Booyung Company Ltd (US$171 million)
The Booyung international apartment building will be located in the Mo Lao new urban area in Ha Dong town, Ha Tay province. The project will have a total area of 43,200 square metres and an operational duration of 50 years. With six 30-storey blocks of flats, it will provide accommodation for 3,000 families and create 100 jobs.
10.White Horse Ceramic Industries (US$150 million)
White Horse Ceramic Industries (Vietnam) with a factory in the Vietnam-Singapore industrial park, Binh Duong province, has decided to invest US$150 million more in building a new factory. The Ministry of Planning and Investment (MPI) has allowed the company to increase its investment capital from US$62 million to 212 million. The company has become the second foreign-invested company to increase most investment capital, behind Intel.
Source: MPI (T.H)
Copyright, 2007© Runckel & Associates
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