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Little Investment Capital Attracted in First Half of 2011

Dong Nai People's Committee’s report indicates that in the first half of 2011, foreign investment attraction hits 24 percent and domestic investment attraction hits 20 percent as planned.

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Investment certificate granting ceremony

In terms of attracting foreign investment capital, newly-registered projects and those with capital increase in the first half of 2011 hit US$360 million, accounting for 24 percent as planned, as much as 68.3 percent over the same period.

Amount disbursed in the first half of 2011 reached US$310 million.

In terms of attracting domestic investment capital, in the first half of 2011 projects granted investment certificates hit VND6 trillion, accounting for 20 percent as planned, up by 24.7 percent over the same period.

Why little domestic and foreign investment capital was attracted in the first half of 2011 was due to the impact of inflation, tightened credit, and restricted loans for real estate projects.

On the one hand, issues regarding land procedures, incomplete infrastructure, and tax policies are major barriers against attracting investment.

On the other hand, Dong Nai is giving priority to selecting high-tech and industrial support products making projects, and limited projects that cause environmental pollution and need a lot of laborers.

The global economic downturn in 2009-2010 period and the impact of earthquakes and tsunamis in Japan have caused many a difficulty for foreign investors, making the flow of investment capital into Dong Nai slower than expected.

Reported by Hoang Yen, Translated by Duy Minh

Author: phongvien

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