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Thua Thien - Hue targets $400 million in FDI

Released at: 09:29, 07/03/2016

Thua Thien - Hue targets $400 million in FDI

Central province announces goal for 2016 and will look to further improving its investment environment.

by Tien Minh

Central Thua Thien - Hue province has set a target of attracting foreign direct investment (FDI) of $350-400 million in 2016.

The province has made notable progress in attracting FDI in recent times, with total projects now standing at 85 with total registered capital of more than $2.6 billion, of which $850 million, or 32.4 per cent, has been disbursed.

In 2015 and the opening months of this year it attracted FDI of more than $450 million in nine new projects and permitted capital increases at three existing projects.

Foreign-invested enterprises (FIEs) in the province earned aggregate revenue of $650 million last year, an 18 per cent increase compared to 2014, and contributed more than VND1.5 trillion ($68 million) to the provincial budget.

This year Thua Thien - Hue anticipates FIEs will earn total revenue of $700 million and contribute $80 million to the provincial budget.

Mr. Bui Thanh Ha, Deputy Secretary of the Thua Thien - Hue Provincial Party Committee, said that FDI had created more than 17,500 jobs and the province is working towards improving its investment environment to make it a more attractive destination for investors.

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