HANOI (Thomson Financial) - Vietnam has attracted more than $15 billion in foreign direct investment (FDI) pledges for over 300 projects so far this year, a communist government official said Monday.
The committed amount is 2.6 times higher than for the January-May period last year, said Nguyen Thuy Huong of the Ministry of Planning and Investment.
Vietnam, which joined the World Trade Organisation in early 2007, has set itself a target of attracting at least $21 billion of FDI this year, Huong said.
Companies up to May 15 have promised to invest $15.3 billion -- including about $14.7 billion for 324 new projects and $600 million to expand over 130 existing projects, Huong said.
Canada topped the list after Toronto-based Asian Coast Development Ltd won a license for a $4.2-billion casino and tourism complex, the country's largest foreign investment project.
The ground-breaking ceremony was held Saturday in Ba Ria-Vung Tau province, 80 kilometres (50 miles) southwest of Ho Chi Minh City.
Second on the list came the British Virgin Islands with almost $2.7 billion, while Singapore took third place with over $2.2 billion in investments pledged.
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