[lbo-talk] Vietnamese construction reaches out to US investors

uvj at vsnl.com uvj at vsnl.com
Mon Apr 23 09:37:35 PDT 2007


Nhan Dan http://www.nhandan.com.vn/english/

Last updated: 16:46 - April 21, 2007

Vietnamese construction reaches out to US investors http://www.nhandan.com.vn/english/business/210407/business_vna.htm

The time for US enterprises has come as the Vietnamese real estate market is booming, ushering the country into the next phase of development that will see strong growth in infrastructure building, said an US official.

Addressing a seminar on business and investment in Vietnam's construction and building material sector held in New York on April 19, Virginia Foote, President of the Vietnam-US Trade Council, highlighted that there is now a great source of capital moving around and seeking places to settle in the Vietnamese market.

Delegates of 30 Vietnamese firms and some 100 representatives from 40 US enterprises participated in the seminar.

Prospective US investors were informed of business opportunities in Vietnam's contruction and building material market. Vietnam is in need of US $140 billion worth of foreign direct investment through 2010 for the development of all economic sectors, especially infrastructure. A series of mega construction projects of roads, bridges, airports, seaports, office buildings and residential areas are now waiting for foreign investment to kick off.

Vietnamese businesses, such as the Vietnam Glass and Ceramic Corporation (Viglacera) and the Song Da construction joint stock company, also presented their development plan to call for US investment. (VNA)

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