June 11, 1999
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| June 11, 1999 | atimes.com | |
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| Southeast Asia Poor infrastructure, laws hamper VN investment HANOI - Investment in the agriculture, forestry and fisheries sectors is being hampered by Vietnam's poor infrastructure and incomplete laws, says Deputy Minister of Agriculture and Rural Development (MARD) Nguyen Thien Luan. About 13 foreign direct investment (FDI) projects worth almost $36 million were granted licenses in the agriculture, forestry and fisheries sectors in the first five months of this year. But the FDI projects in these sectors account for only 11 per cent of the total number of projects and about 5 per cent of the total FDI capital in Vietnam. Investment in agriculture, forestry and fisheries is traditionally long-term and high risk, Luan says. Nevertheless, Luan says the ministry will continue taking measures to attract more foreign investment into these sectors, including the reform of administrative procedures, new management agencies and more project managers. MARD is encouraging domestic and foreign investment in the development of new plant and animal strains, plant protection, irrigation and afforestation. So far Viet Nam has received more than $3 billion from ODA sources for 64 forestry, 25 irrigation and 51 agriculture projects. The ministry is calling for further ODA investment in 10 major projects on afforestation, irrigation, sericulture development, resettlement, and construction of new economic zones. (Asia Pulse/VNA) | |||||||||
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