Hanoi targets 3 billion USD in FDI for 2009

Hanoi (VNA) - The capital is targeting 2-3 billion USD in foreign direct investment
(FDI) this year, which would place it in the country's top five locations for FDI.

According to the municipal Department of Planning and Investment, the city hopes
to draw 1.8-2.7 billion USD from 260 new projects while attracting the remaining
capital from 40 existing ones.

Despite the global economic crisis, the city still attracted 180 million USD in FDI
in January, said the department deputy director Nguyen Van Tu, who predicted the
figure would reach 400 million USD this month.

In order to reach the goal, the city needs to perfect its "one-stop shop" policy
in business registration and capital construction as well as boost transparency in
trade and investment, said Tu.

He said the city should consider the policy in other areas like land leasing and
transfer to foreign investors. Tu emphasised the need to upgrade IT infrastructure
to speed up on-line registration for administrative procedures.
The department is establishing a list of projects seeking domestic and
foreign investment to streamline the investment process.

In 2008, the city granted licences to 270 new foreign-invested projects with a total
registered capital of 4.4 billion USD. It also granted permission to 30 existing
projects to increase their capital by 6 million USD.

Real estate development has remained the most attractive sector for foreign
investors, accounting for half of the total registered capital. Information and
communication technology (ICT) follows close behind with 43.5 pe