Vietnam FDI declines

Mon, 29 Dec 1997, 00:00 WIB | Source: AFP

HANOI (AFP): New foreign investment approvals in Vietnam this
year have registered a decline for the first time since the
country launched its open door policy, according to official
statistics released on Saturday.

Foreign investment capital approved by Hanoi in 1997 only
reached US$5 billion compared with $8.7 billion last year, the
official Vietnam News Agency reported.

The 42 percent drop in foreign investment was the second
consecutive year foreign investors have slackened interest in
Vietnam.

South Korea tops the list of foreign investors in Vietnam this
year, followed by Japan, France -- thanks to the signing of
several big contracts during the November visit by President
Jacques Chirac -- Singapore and Thailand.

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