UNCTAD: Vietnam leads Asia in FDI attraction

Employees work in a production line of a foreign company

Vietnam is leading other Asian countries in attracting foreign direct investment (FDI) with pledged capital tripling from US$20.3 billion to US$64 billion in 2008, said a UNCTAD report on world investment.

The United Nations Conference of Trade and Development (UNCTAD) also noted Vietnam’s opening of its retail market since early this year and new tax policies aimed at turning poor provinces in the Mekong Delta with low-cost production centers.

The UNCTAD reported that last year the world saw a 21 percent FDI decrease, however, FDI influx to Asian and Oceania countries fell by only 2.2 percent.

In Asia, FDI attraction decreased in Japan, the Republic of Korea, Singapore, Thailand and the Philippines while increasing in China, India, Indonesia, Malaysia and Vietnam.

Source: Vietnam News Agency

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