Vietnam attracts more FDI

HANOI: Vietnam has decided to increase the number of private business sectors open to foreign investment in an effort to attract more capital into the country, official media reported on Friday.

The Saigon Giai Phong (Liberation Saigon) said the Ministry of Planning and Investment had increased to 35 the number of business sectors in which foreign investors could invest in privatised Vietnamese firms from a previous 11.

The paper did not give a full list of sectors, but said they ranged from agriculture to forestry to fishing, product processing, science and technology, health care and education.

It will be effective from May 25, which limits foreign investment to a maximum of 30 percent of an enterprise's registered capital.Reuters