Top 10 Foreign-Invested Projects for 2009

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Dec. 31 – While foreign direct investment in Vietnam fell in 2009 for the first time in five years, the global financial crisis did not completely drive away investors.

As Asia begins to emerge from the crisis, Vietnam’s economy is responding, expanding at the fastest pace in more than a year in the fourth quarter as lending growth fueled construction and consumer sales.

The country’s gross domestic product grew 6.9 percent in 2009, after a revised 6.04 percent gain in the third quarter, according to a report released by the General Statistics Office in Hanoi today.

While foreign investment dropped in 2009, it did not disappear. Here we take a look at the top ten foreign-invested projects in Vietnam for 2009. Of the 10 projects, three are located in Ba Ria-Vung Tau, two are located in Dong Nai, while the provinces of Quang Nam, Phu Yen, Binh Duong and Ho Chi Minh City have one project each.

Top 10 FDI projects (in order of decreasing capital volume):

1. Dragon Ecological Tourism Complex, invested by the US TANO Capital, LLC and Global C&D, INC.
This project will cover 400 hectares in Quang Nam, including nine high grade hotels with 15,000 rooms, an international conventional centre with 10,000 seats, a trade centre and office area, villas and apartments.

2. Nhon Trach Berjaya New City project, invested by Berjaya Land Berhad’s, a subsidiary of Malaysian Berjaya Group
The US$2 billion dollar project would cover 600 hectares, including 18-45 story housing blocs, service and cultural buildings

3. Binh Duong housing project, invested by Phu Thang Long Company, a joint name of Smart Dragon Development LTD (Samoa) and Tuster Development LTD (Seychelles)
There will be 90,000 apartments for low and medium income earners. The chartered capital of the project is US$10 million, just 1/170th of the registered capital of US$1.7 billion.

4. Nam Tuy Hoa creative city project, invested by the U.S. Galileo Investment Group.
This project will cover an area of 1,347 hectares in Tuy Hoa City and neighboring districts. Its chartered capital is US$350 million, just 25 percent of the registered capital of US$1.68 billion.

5. Steel complex project, invested by China Steel Sumikin Vietnam, a joint venture of Taiwanese China Steel and Japanese Sumitomo Metal Industries and Sumitomo Corporation
The steel mill will cover 109 hectares in My Xuan A2 Industrial Zone in Ba Ria-Vung Tau. It will churn out high quality steel products for shipbuilding and engine manufacturing. The chartered capital of the project is US$574 million, or 50 percent of the registered capital of US$1.14 billion.

6. Toc Tien new urban area project, invested by South Korean Charm Urban Development
This project has a chartered capital of US$150 million, or 25 percent of the registered capital.

7. Safari zoo project and Binh Chau resort
Total investment capital of US$500 million.

8. Geologic survey and oil exploitation at blocs 129 to 132, run by Russian Gazprom-Zarubejneftegaz
The contract is valid for 30 years, with a possible extension of five years. Its chartered capital and registered capital is US$382.2 million.

9. The 9A2 complex project – the South HCM City new urban area, invested by Viet Lien LUKS (BVI)
This project will be located on 19.4 hectares in Binh Chanh district, including a housing section and a trade area, and will have 4,000 residents. Its chartered capital is US$79 million, or 25 percent of the registered capital.

10. Phu Hoi new urban area, developed by Phu Hoi Urban Area Company, a joint name of Licogi (70 percent of capital), Vinaland Eastern Limited (22.5 percent) and Vinaland Heritage Limited (7.5 percent)
This project has the chartered capital of 985 billion dong, or US$56 million, while the registered capital is US$205.7 million.

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